How to Money

This week on the pod we’re answering your questions! 1 - Should I continue investing with an impending market correction? 2 - What should I do with the money I’m setting aside for new baby expenses? 3 - After some hail damage, should I fix my car or keep the insurance money? 4 - How does compounding work for investments like stocks? 5 - Do I have to pay quarterly estimates or should I invest that money instead?And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/askDuring this episode we enjoyed a Fancy Dance by Skydance Brewing Co- a big thanks to Patrick in Oklahoma for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

What do you do for fun? This might seem like a trivial question, but discovering your hobbies can have some pretty large impacts on your financial health and overall well-being. Of course we want to ensure that we’re pursuing frugal hobbies and that we’re being intentional by curating our interests. The mindless pursuit of expensive hobbies is never a good thing- but reaching the end of our working career and finding ourselves bored and restless sounds like a nightmare scenario! We live in a work driven culture, and so we need to cultivate these hobbies and interests now so that we have something to look forward to in retirement other than just ‘not working’. We talk long-term about our money all the time, so this week we’re talking long-term about our hobbies.During this episode we each enjoyed a Bourbon Barrel Peach Cider by Tieton Cider Works- a big thanks to Jenna there at the cidery for donating this one to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

This episode is chock full of personal finance gold. Sure, we spend a good amount of time talking about negotiating, but we also cover intentional spending, the psychology behind being smart with your money, and rethinking the money ‘truths’ we’ve grown up with. We are stoked to have Ramit Sethi join us as we cover all those topics and more, which can also be found in his book ‘I Will Teach You to be Rich’ (and stick around to the end as we’re giving away a few copies as well)! Ramit has written about personal finance for the Wall Street Journal and the New York Times and is a veteran in the personal finance community. Living a rich life is different for everyone and we’re glad to have Ramit Sethi on this episode to remind us to dream big.During this episode we each enjoyed a cold brewed coffee since we recorded this episode in the morning (back with craft beer next week)! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

If you have a difficult time setting aside money for the future and saving towards retirement, then identifying why it is that you’re saving might be what you’re missing. Studies have even shown that we will save more money for retirement when we’re able to see an older version of ourselves- so maybe trying out FaceApp is a good thing after all! Even though we all might have different motivators, it’s healthy to remind ourselves of why it is so important to save and invest. And actually realizing and understanding that we’re going to be old one day is crucial when it comes to maintaining a high savings rate in our 401k, IRA, and other investment vehicles.During this episode we enjoyed a Christmas Bomb by Prairie- a big thanks to Jeff for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

This week on the pod we’re answering your questions! 1 - Is it OK to buy a new car if I’m going to keep it for 15 years? 2 - What receipts should I keep for tax purposes on the portion of my duplex I’m renting? 3 - What were y’all taught and what should I be teaching my kid about money? 4 - As a higher earner, is there any tax benefit to contributing to my IRA when I’m already covered by a retirement plan at work? 5 - Where should I consider opening a small business account for my new business?And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/askDuring this episode we enjoyed an Okie by Prairie Artisan Ales- a big thanks to our friend Abe here in Atlanta for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

We should all probably watch a little less TV than we do, but that doesn’t mean we shouldn’t be getting a deal in the process! The television bundle is the priciest way to watch and you should consider a free or streaming option because there are now so many choices. And you don’t have to sacrifice and give up a particular show or live sports if that’s your thing- there’s a really good chance you can find a video service, providing the content you’re looking for, that will be substantially more affordable than your local cable or satellite provider.During this episode we enjoyed a Saison Du Ble by Side Project- a big thanks to our buddy David here in Atlanta for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

The leading cause of bankruptcy in America is the inability to pay medical bills- an estimated half a million people file for this reason every year! Almost no one is immune to the rising cost of healthcare, and fellow podcaster Dan Weissmann is here to commiserate. Dan’s podcast, An Arm and a Leg, is part journalism part personal narrative as he dives into real life experiences of Americans with their health coverage. Healthcare is definitely confusing, and based on the fact that our country spends almost 20% of our GDP on medical spending- it is also clear that costs are out of control. During this episode we each enjoyed an SKB IPA by Sun King Brewery- a big thanks to James for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Health Savings Accounts aren’t just for paying your medical bills- when used properly, they are pure retirement gold! If you have a qualifying healthcare plan and aren’t taking advantage of an HSA, you’re missing out on massive amounts of money that you could be socking away. This is because an HSA is the most tax advantaged retirement account that exists, maybe even dethroning the Roth IRA as our favorite retirement account! Have a listen as to why we think you should seriously consider opening a Health Savings Account.If you want to learn more, head over to Lively as they have lots of helpful information and answers to your eligibility questions. It's completely free for individuals and families and they make it easy to open your HSA to start investing today.During this episode we enjoyed a Mirror Universe by Fair State Brewing Cooperative- another big thanks to Riley in Minnesota for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

This week on the pod we’re answering your questions! 1 - Should I keep my car payment around in order to boost my credit score? 2 - When does it make sense to replace old light bulbs with new LEDs? 3 - Is it worth disputing my property tax bill? 4 - How can I negotiate a lower APR on my credit cards? 5 - I’m considering joining Lending Club as an alternative way to invest my money- is this a good idea?And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/askDuring this episode we enjoyed A Visit to My Crazy Aunt by Insight Brewing- a big thanks to Riley in Minnesota for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Whether you’re planning to score a deal on Amazon Prime day or not, chances are you do a good bit of purchasing online. Obviously we love getting a great deal and the convenience of online shopping is unmatched, but what other considerations should be taken into account? Just because we’re getting a deal now, does that mean we’re spending less money in the long run? During this episode we cover when shopping at a local brick and mortar is better, some serious downsides of shopping online, and then we wrap things up by covering our favorite ways to get deals buying online using deal sites, techniques, and our favorite Chrome extension.During this episode we enjoyed a Fort by Dogfish Head- another big thanks to our friend Tyler here in Atlanta for donating this rare (to us!) beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Getting your significant other on-board when it comes to personal finance goals may be no small task- which is just one of the reasons we’re excited to have Andy Hill join us for this episode. Andy and his wife started their life together 50k in debt. They put in the hard work of confronting their individual unhealthy financial patterns, set some serious goals, and in just 4 years were completely debt free (including a 195k mortgage!) and now 8 years later have grown their net worth to over 750k! Andy’s podcast is called Marriage, Kids, & Money, and today we’re excited to talk with him about a variety of topics including clever ways he’s been able to diversify his income, as well as some tips for avoiding money fights with your partner and communicating well with regard to money and goals.During this episode we each enjoyed a Cream Weaver by Three Taverns Brewery - a big thanks to our friend Tyler here in Atlanta for donating this tasty beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Many of us have our own personalized, specific goals when it comes to our money, so it’s no surprise that we also have many different views of what financial independence means to each of us. Since tomorrow is the 4th of July, we wanted to take a moment and reflect on how our views of financial independence have changed over the years. We also posted this question in the How To Money Facebook group, and we look forward to digging into and sharing your wisdom regarding what financial freedom means to you! Just like we often discuss regarding knowing the ‘why’ behind our money, when we’re able to identify why it is we’re seeking after financial freedom, we can endure almost any ‘how.’ Happy 4th!During this episode we each enjoyed an Order of Magnitude by Edmund’s Oast which you can find on Untappd. A big thanks to Andrew in South Carolina for donating this amazing beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

This week on the pod we’re answering your questions! 1 - What does it mean to put index funds in my Roth IRA? 2 - Should I invest in Fundrise and REITs in order to learn more about real estate investing? 3 - Should we consider getting a home warranty? 4 - How will my credit score be impacted if I pay off a debt in collections? 5 - Am I crazy to consider buying a new $65,000 electric truck?And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/askDuring this episode we enjoyed a Ninja vs Unicorn Double IPA by Pipeworks Brewing Co which you can find on Untappd. Another big thanks to Russ for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Understanding what our time is worth allows us to make more informed decisions regarding our time and money. Your hourly rate informs your decision to DIY a project at home, determine whether you’re spending too much time searching for a deal, or whether its time to negotiate a raise or other benefits at work. Your personal hourly rate shouldn’t be the only consideration but understanding the relationship between our time and money will allow us to live more meaningful and optimized lives.During this episode we enjoyed a Seismic Positivity by Pipeworks Brewing Co which you can find on Untappd. A big thanks to Russ here in Atlanta for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

So many of us grew up without any sort of formal or informal education about personal finance. Few states offer a personal finance course in their public schools and even fewer participate in any sort of standardized testing for the courses they do offer. That’s why we’re really excited to have Dan LaSalle join us for this episode. Dan saw a need for this type of education in the high school where he was teaching and four years ago he took it upon himself to create a personal finance program that not only teaches students the importance of budgeting, saving, and investing, but also gives them the opportunity to earn up to $5,000 a year, and put that money into a bank account of their own. We truly believe that this kind of approach could be the future of financial education!During this episode we enjoyed a Happy Trees by ANXO which you can find on Untappd. A big thanks to good buddy Andrew for donating another tasty beer cider to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

More and more investors want their money to be going to companies who are doing good in the world, or at least to companies who are being responsible when it comes to the environment, social issues, and governance. Companies who are leading in this front may also be better positioned for future challenges and experience fewer instances of bribery, corruption, and fraud (bonus: giving you better returns on your investment)! Unfortunately, with socially responsible investing being fairly new on the scene, definitions can be unclear and terms are often used interchangeably. Listen as we dive into this topic, giving you the knowledge to help you decide what socially responsible investing means to you.During this episode we both enjoyed a Toffee Stout by Carolina Brewery which you can find on Untappd. Another big thanks to Emma in NC for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

This week on the pod we’re answering your questions! 1 - Should I get umbrella insurance or put each investment property in it’s own LLC? 2 - Should I change my tax withholdings to pay off debt? 3 - How should my partner and I split bills and pursue financial independence when we have very different incomes? 4 - When should I consider switching to a bank that pays a higher interest rate? 5 - How should I structure a group of friends to discuss talking about money?And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/askDuring this episode we enjoyed a Pink Robots by Birdsong Brewing which you can find on Untappd. A big thanks to Emma for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Here on How to Money, we often debate the merits of a purchase, not because we hate spending money and try to avoid doing so at all costs, but because we are constantly checking ourselves to avoid the MINDLESS spending of our money. It is a challenge to make every financial decision with the same level of intentionality but we find we are often more wasteful when we are feeling too tired or lazy to be intentional. But just being aware of some of the triggers and circumstances that lead us to spend in ways that don't align with our financial goals can help us see it and own it when it happens, and lead us to effectively change our habits for good. Being excited to spend our money mindfully on a purchase that aligns with our financial goals is a good, healthy feeling- whereas impulse spending can leave a spending hangover, often accompanied by debt. Listen as we run through several rules that help us be mindful spenders.During this episode we enjoyed a National Cherry Blossom FestivAle by Old Ox Brewery which you can find on Untappd. A big thanks to our good buddy Andrew for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

There is so much more to handling your finances and investing well, than just knowing the correct information. Oftentimes we’re blind to the factors all around us, including our own tendencies and biases which can have a much bigger impact on how well we money. Willpower is limited and context matters way more than we might think. That’s why we're pumped to sit down with Dr. Daniel Crosby- he is a psychologist and behavioral finance expert who helps folks understand the intersection of their minds and their money. Daniel is a NYT bestselling author on behavioral finance, and his latest book The Behavioral Investor, looks at the psychology, physiology, and sociology of financial decision making. By the end of this episode, you’ll have a better understanding of what steps you need to take in order to be a successful investor.During this episode we both enjoyed a Hoplanta by Atlanta Brewing Co which you can find on Untappd. A big thanks to Daniel himself, for not only showing up talking with us in person, but for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review over in Apple Podcasts - that's how you can enter to win a copy of Daniel's latest book The Behavioral Investor. Once you leave that review, just shoot us an email at [email protected] with your screen or user name and you'll be set!Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Anyone who has heard of the different warehouse clubs like Costco, Sam’s Club, and BJ’s has also heard that they’re a great place to save you money. But are they? With the proliferation of discount grocery stores and the ability to easily find a great deal on pretty much any product online, some are questioning whether the annual membership fees are worth it. Have a listen as we break down a bunch of the benefits, but also some of the drawbacks associated with warehouse clubs.During this episode we both enjoyed a Buffalo Soldier by UTOG Brewing Co which you can find on Untappd. Another big thanks to Andy for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

This week on the pod we’re answering your questions! 1 - Having just started my career, how much should I have in my emergency fund? 2 - Should I still move forward with my credit freeze? 3 - My insurance agent is recommending an insurance policy with a cash value. Should I consider it? 4 - Should we get a variable or fixed rate mortgage for our first home purchase? 5 - How do I keep my car insurance rates down after getting in a wreck?And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/askDuring this episode we enjoyed a Killer Grove by Talisman Brewing Co which you can find on Untappd. A big thanks to Andy for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

How much are you paying to invest in your 401k or IRA? You might see fees as an unavoidable cost of investing, but even a 1% fee could easily cost you more than a half million dollars over your investing lifetime. Fees not only erode how much money you have to invest now, but they lessen the amount of money that is compounding in your account year after year- the impact is twofold! Listen as we discuss the different types of fees, how to look for them, and then where to go in order to avoid fees altogether.During this episode we both enjoyed a Bent De Garde by Braindead Brewing which you can find on Untappd. A big thanks to Jerrod and our friends out there in Dallas for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Pretty much everyone we know would love to have more hours in their day- more time to spend with friends and family, more time to read or exercise (or any time), or even some extra hours to work on that side hustle you’ve been thinking about. We are really excited to have time management expert Laura Vanderkam on the podcast as she helps people spend more time on what matters, and less on what doesn’t. We discuss her latest book, Juliet’s School of Possibilities where she says that “Expectations are infinite, time is finite, you are always choosing, choose well.” In this conversation we dive into ways to be more efficient at work, how we should be thinking about our time at home while we’re ‘off the clock’, and some tips on how we can better manage distractions.During this episode we both enjoyed an Infinity Bloom by Newgrass Brewing Co. which you can find on Untappd. A big thanks to Mano and Pop (Matt’s in-laws) for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

How much are you spending on your car? Aside from housing, Americans spend more money on cars and transportation costs than any other category, accounting for 14% of the average budget. That’s $9,000 annually according to the US Consumer Expenditure Survey but it could be a lot less! Luckily, some cars cost WAY less than others to purchase and maintain, and in this episode we make some car recommendations for frugal folks.During this episode we enjoyed a Bitter by FORM Fermentery and Blendery which you can find on Untappd. Another big thanks to Adam for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

This week on the pod we’re answering your questions! 1 - Is it possible to create a side hustle using the different grocery or exercise apps that promise to pay? 2 - Should I diversify and have more than one Roth IRA account? 3 - As a highschool teacher preparing my students for the real world, what personal finance topics should I be sure to include? 4 - What are the best methods for accepting rent? 5 - What are some ways to cut the cost of cosmetics?And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/AskDuring this episode we enjoyed a Form to Table by FORM Fermentery and Blendery which you can find on Untappd. A big thanks to Adam for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Every month we waste a lot of money on utility bills that could be back in our pockets if we would only be more intentional about making our homes more energy efficient. Not only could we save more money now, but there is massive potential for what that money could grow into if we invested it every month - don’t forget the rule of 173! Regardless of whether you’re renting an apartment or living in your own house, listen as we discuss lots of different ways that you can cut your water, gas, and electric bills. Recurring monthly expenses have a huge impact on your ability to save for the future!During this episode we enjoyed a Challenge Series 11 by Bear Republic Brewing which you can find on Untappd. A big thanks to our friends at Bear Republic for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Is it possible to pay down $200,000 of debt while living in a big city, and still find enjoyment in everyday life? Yes! In this episode we’re lucky enough to sit down with Kiersten and Julien Saunders who blog at RichAndRegular.com where they document their journey to financial independence. During this episode we hear from Kiersten and Julien about the unique struggles of African Americans in the corporate world, how they stayed motivated to pay down debt, their approach to effective budgeting, and how Julien’s background as a professional chef keeps their monthly expenses down. During this episode we all shared a beer- The Last Blockbuster by 10 Barrel Brewing which you can find on Untappd. A huge thanks to our friend Scott out in Bend, Or for donating this beer to the show! And it’s incredibly appropriate that he sent this one to us as he just finished up his documentary on financial independence titled Playing With Fire, be sure to check it out as the Saunders are featured! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

What is the best way to pay down debt? Americans are in tremendous amounts of debt (think over 400 billion on just credit cards alone)! Not only is this debt keeping folks from reaching their financial goals, but it’s also taking a toll on the mental health of borrowers. Knowing the best strategy to get out of this debt is a big deal and could be the difference between living paycheck to paycheck or achieving financial freedom. Listen as we cover both approaches so you can decide which is better for you: the debt snowball (popularized by Dave Ramsey) and the debt avalanche (also known as debt stacking).During this episode we enjoyed a Maple Vanilla Copra Kai by Southern Grist Brewing which you can find on Untappd. Another big thanks to Jamie and friends up there in Nashville for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

This week on the pod we’re answering your questions! 1 - What’s the difference between annuities and life insurance? 2 - Ways to improve my credit score after a chapter 7 bankruptcy? 3 - Robo advisors: are they too good to be true? 4 - Should I open a college savings account for my toddler? 5 - What kind of equipment do you use to record the podcast?And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/AskDuring this episode we enjoyed a Bio-Rhythm by Southern Grist Brewing which you can find on Untappd. A big thanks to Jamie and friends up there in Nashville for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

We think it’s a great decision for almost everyone to invest in a Roth IRA. Second only to an employer matched 401k, a Roth IRA is very often the best retirement savings vehicle due to tax advantages and flexibility within that account. Listen as we cover some of the reasons we’re huge fans of the Roth IRA.During this episode we enjoyed a Superior BarleyLime by tripelroot - a big thanks to Heather for donating this delicious beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

It’s time to dispel the myth that you need to have a huge salary, or that you need to work and save for decades, in order to eventually retire. This week we’re excited to hear from Jillian Johnsrud as she shares with us how she became financially independent at the age of 32, despite her and her husband never making more than 60k a year. We cover how they paid cash for their first house, how they continue to save and invest with 5 kids at home, as well as the importance of their "quit list" as they seek to live an intentional and adventure filled life.During this episode we enjoyed an Official IPA by Bell’s Brewery- a big thanks to our friends at Bell’s for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

For most people car and home insurance policies are expected, necessary costs of owning those things. Because we automatically set up these policies, we tend to forget to continually shop them around- which may mean we’re significantly overpaying! Loyalty with a particular insurer doesn’t save you money over the years so continually shopping your provider is one of the best ways to get your rates down. Listen as we cover several other ways to save big on car and home insurance, plus we answer the question: When should I even use my insurance?!During this episode we both enjoyed a Uroboros Stout by Anthem Brewing which you can find on Untappd. A big thanks to Sy in Oklahoma City for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

This week on the pod we’re answering your questions! 1 - Where should I keep money that I’m saving for a down payment for real estate? 2 - Should I be investing in my retirement while I still have student loan debt? 3 - When should I consider selling my clunker and buying a ‘new’ car? 4 - Is wrapping your car in ads a legit way to make money? 5 - What are some ways to save money while on the road touring with my band? And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/AskDuring this episode we both enjoyed a Forgotten Lake Blueberry Ale by Lake of the Woods Brewing which you can find on Untappd. A big thanks to David in Keswick, Ontario for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

There are a host of reasons why renting a place instead of buying might be a great idea for you (we even dedicated an entire episode to the topic!). But when it comes to renting and entering into a lease agreement with a landlord, you want to make sure that you’re prepared and taking the proper steps to protect yourself. Listen as we cover everything from Wall Street landlords to negotiating leases to the low cost of renters insurance.During this episode we both enjoyed a Russell Kelly Pale Ale by Telluride Brewing which you can find on Untappd. A big thanks to Tiffany in Colorado for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

What kind of life do you really want to lead? Does consumption and stuff dictate your life more than you’d like? It is so important to examine your own life to discover the small changes you can make right now to give you more freedom to do the things that truly matter most to you. For this interview, we sat down with Chris and Cristi from Life Opted Out to talk about how and why they chose to leave a life they loved in NYC for a much simpler, more affordable life traveling the country in their van. They share that so many of the lessons they’ve learned are not specific to life on the road, and can be applied to anyone looking for more purpose and fulfillment.During this episode we both enjoyed a Nothing Left to Give by Orpheus Brewing which you can find on Untappd. A big thanks to Jimmy for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

US households owe a total of $420 billion in credit card debt so it’s no surprise that everyone is looking for an easy solution. Debt consolidation (and debt settlement) companies offer a quick fix but they often cost you a lot, wreck your credit score, and they may even completely scam you without performing any of the promised work. Rather than consolidation and settlement companies, consider the sure route- ‘manually’ consolidating your own debt and, if needed, utilizing loan companies like Lending Club or SoFi- just make sure to do your homework and read the fine print! In the end, make sure you have a plan to keep yourself from taking on new debt- you don’t want to end up back in the same situation!During this episode we enjoyed a Secret Lovers - the Sequel by Wilmington Brewing Company which you can find on Untappd. A big thanks to Naomi for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Do you feel comfortable with the expectations of your job and the number of hours you work? Or do you sense impending burnout with the constant demands and grueling schedule required of you? This week's $Pro, Tanja Hester, is here to talk about how to begin making your job a smaller part of your life. Her first step to achieve this is saving up just enough money to shift that power imbalance that you may feel with your boss, and give you confidence and bargaining power. We will also cover three routes to consider taking to make work optional for you and the different ways that retirement can look. Let's take the proper steps now to make work more optional!During this episode we each enjoyed a Quadrahopic by Land-Grant Brewing which you can find on Untappd. A big thanks to Kayla for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Even though the federal government published a report that determined the average cost of raising a child from birth to age 18 is $233,000- that doesn’t mean you HAVE to spend that much! When calculating how much YOU will spend on a child, start by asking yourself: what are my current expenses? Because really the best indicator of how much you’ll spend on your kids is how much money you are already spending on yourself. The cost of children will be an extension of your values and what you’re already spending money on. Listen as we cover how much kids cost, ranging from specifics like the cost of car seats to a broader, principled approach towards entertainment and spending in general.During this episode we each enjoyed a Heavy Hands DIPA by Spindletap Brewery which you can find on Untappd. Another huge thanks to Leo for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

It's always encouraging to be reminded that the hard work you're putting in and the sacrifices you're making now can mean a much smoother ride in the future when it comes to your personal finances. Our $Pro this week, Doc G, is here to discuss the compounding effects of extra work, saving, and investing early on. Even if you're not so young, this episode is a call to get started now- not next month or next year- get your money in order today!During this episode we each enjoyed an Aggressive Additions IPA by Spindletap Brewery which you can find on Untappd. A huge thanks to Leo for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Nearly 80% of Americans wouldn’t be able to pay their bills if they missed a paycheck. When you’re used to living paycheck to paycheck, the idea of setting aside some extra money is almost laughable. How do you even consider setting financial goals when every dollar you make is already going somewhere necessary? In this episode we talk through how to choose to set goals regardless of your financial situation. The goal of an emergency fund for some breathing room and financial cushion is the very thing that will allow you to still pay your bills if you miss a paycheck! Even saving $1,000 can be enough to end the cycle and allow you to escape that paycheck to paycheck lifestyle.During this episode we each enjoyed a Roast Beast by Modern Methods which you can find on Untappd. A huge thanks to Krista for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Rampant consumerism and consumption is becoming the norm, and this is partly due to the fact that it is so easy to make purchases online. $Pro Katy Wolk-Stanley is challenging that notion by refusing to buy new stuff, and instead, she’s prioritizing her goals and values when it comes to consumption. Free piles of stuff on the sidewalk and your local Buy Nothing group can be great, but they’re not the only way to drastically cut back. Listen as we’re challenged by Katy and as we seek to save more of our money by spending less on junk we don’t need.During this episode we enjoyed an AZ Dreamsicle by Arizona Wilderness which you can find on Untappd. A huge thanks to Brandon for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Working hard for money isn't a foreign concept, but working hard to receive good customer service often is- we so rarely advocate for ourselves! The first step when you're looking for great customer service is to be sure to do business with a reputable company. After that, there are plenty of additional elements to consider to not only save you money, but allow you to walk away from a transaction completely satisfied and raving about how great of an experience you had when you needed assistance. Listen as we help you to make the best use of your time when advocating for great customer service.During this episode we each enjoyed an Atrial Rubicite by Jester King which you can find on Untappd. A huge thanks to Jerrod at BrainDead Brewing for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

The cost of college is higher than ever. On average, students today are paying 213% more to go to college than their parents paid 30 years ago (and that includes adjustment for inflation!). $Pro Cody Berman is with us this week to discuss finding smart and creative ways to cut college costs, so that graduates can launch their professional careers unhampered by massive student loans. So whether you're in school, considering going back, or have kids - listen to hear some advice on ways to cut those college costs.During this episode we each enjoyed a PowerShark by BrainDead Brewing which you can find on Untappd. A special thanks to Jerrod at @braindeadbrew for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

People don’t invest in the stock market because of a perceived ‘risk’- their minds immediately jump back to the Great Recession or even the Great Depression. And then from that position of fear, they decide their money is better left in a nice and familiar savings account- except this is an instance where slow and steady doesn’t win the race. It turns out that one of the biggests, actual risks to your money is not investing at all, in an attempt to avoid ‘risk’ from the stock market. Listen as we cover some popular perceived risks and then the real risks associated with investing in the stock market.During this episode we each enjoyed a Center of the Sun IPA by Civil Society Brewing which you can find on Untappd. A special thanks to our good buddy Pat with B10 union for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Do you have federal student loans? Are you wondering if you have any refinancing options? There is a lot to consider in a refinance beyond the advertised interest rate, and this week’s $Pro, Meagan Landress, will help us wade through it all. We also spend a large part of this episode answering specific student loan related questions from the How to Money Facebook group.During this episode we each enjoyed a Can Can (red wine barrel-aged) by Westbrook Brewing Co which you can learn all about on Untappd. A special thanks to Jeff at Peachtree Road Package Store for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

The difference between scoring a home vs. missing out can be incredibly small- and a lot of it comes down to your offer. There are lots of little things that can help your offer stand out and make the buying process move along smoothly. However, since most of us only buy a home once or twice in our lifetime, not knowing or forgetting a step can cost us a place we really want or cause us to make unwise decisions. Listen as we cover some important steps in the home buying process and how you can get a leg up when you are actually buying a home.During this episode we each enjoyed a Space Camper Cosmic IPA by Boulevard Brewing which you can learn all about on Untappd. A special thanks to Hillary and all of our friends at Boulevard for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Over 45 million Americans are saddled with over 1.5 trillion in student loan debt- this is a nationwide epidemic! With such a massive burden, how do you even begin repaying your student loans? Our $Pro this week, student loan expert Meagan Landress, is here to shed some light on the many different student loan repayment programs and how to choose the plan that best fits your financial situation and goals. At the end of this episode we answer some specific student loan related questions from the How to Money Facebook community.During this episode we each enjoyed a Nostalgia IPA by Slow Pour Brewing which you can learn all about on Untappd. A special thanks to our $Pro Meagan for donating and sharing this beer with us! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Buying a house will likely be the most expensive purchase you’ll ever make, so it’s no surprise that it can be an intimidating process. But this is the very same reason you should be a well informed buyer- so much money is on the line! Today we’re covering several steps everyone needs to take before purchasing to make sure that you’re getting the best deal possible on a house that you love.During this episode we enjoyed an Ink Imperial Stout by Rhinegeist Brewery which you can learn all about on Untappd. A special thanks to Natalie and all of our friends at Rhinegeist for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

The fact is that everyone wants to travel, but nobody wants to pay more than they need to for airfare. Who doesn’t want a deal?! Our $Pro today is Scott of Scott’s Cheap Flights, and he’s going to explain how we’ve been going about booking our vacations all wrong. It’s time to turn the way we plan for trips completely upside down! Listen as we discuss ways to save money when booking airfare.During this episode we enjoyed a Penguin Blonde Stout by Rhinegeist Brewery which you can learn all about on Untappd. A special thanks to Natalie and all of our friends at Rhinegeist for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Weddings are expensive, but they don’t have to be! Spend your money on the things that truly matter to you and your fiancé and let the rest go. Cutting out elements that don’t mean much to you, however traditional or expected, will save you a ton. Once you’ve decided on your most important elements and it is time to spend some serious money, do it wisely! Listen as we cover a variety of ways to plan a beautiful and meaningful wedding, without going broke.During this episode we enjoyed a Juice Pack DDH Pale Ale by Tupps Brewery which you can find and learn all about on Untappd. A huge thanks to Jake in Texas for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.