Episode 106 - Finding the Joy in NOT Buying Things

Frugality is a muscle but luckily it’s a muscle that fills your life with meaning and purpose. By choosing to focus on things that make you happy and only adding items to your life that bring meaning you reduce the amount of money you spend while increasing your overall happiness. It takes a while to change your mindset but once you do it’s a really powerful lesson that continue to reap benefits for years to come.

Episode 105 - Fear of Taking the First Step

On today’s episode we chat about how to get started with personal finance. It can be intimidating to take an inventory of where you currently stand and compare it against where you want to go but as they say “A Journey of a thousand miles begins with the first step” - today we talk about how to take the first step.and begin learning about personal finances.

A couple good books I would recommend for those interested in reading more about personal finance:

The Millionaire Next Door by Thomas J. Stanley

Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter

The Simple Path to Wealth by by JL Collins

Episode 104 - Decoding Mutual Fund Information

Most of us that have 401k’s or IRA’s or even a taxable account will have something called a mutual fund. This is essentially just a collection of stock, which takes the guess work out of picking choosing stocks and sets us up on a path to success. However, if you ever take a step back and click on your 5-character ticker symbol your head might start spinning as you try to make sense of it all. On this weeks episode we open up a Fidelity fund and walk through what all the different information means - you’ll find similar information no matter who your service provider is, but if you want to follow along with us, here’s the fund we were looking at: https://fundresearch.fidelity.com/mutual-funds/analysis/315911693?documentType=QFR

Episode 103 - Sinking Fund Strategy

What do you do when you have a large expense in a month? For most people this might have to go on a credit card - but today we chat about sinking funds and how setting them up can help absorb large expenses. While emergency funds help to cover unplanned expenses, sinking funds are a great idea for semi-annual tax bills, annual insurance payments, and things that you might not know the exact dollar amount of but can save for anyway like car repair. Tune in to hear how we’ve used sinking funds and how they might benefit you.

Episode 99 - Buying Your First Rental Unit

Okay guys get ready for one of our longest episodes ever. We’ve been landlords for a few years now and we’ve learned a lot along that way that we wanted to share with you in this episode. From how we got started in real estate to tips on marketing your property or figuring out if your property will cashflow we cover all of the basics on this episode.

Episode 97 - Learn to Entertain Yourself

When I was a kid if I complained about being bored my parents always told me to “use my imagination”. As adults it seems like we have lost our ability to use our imagination. I recently saw an article talking about how the average American spends $2,500 a year on entertainment and several people in the comments mentioned they couldn’t imagine cutting their spending in this category. So the challenge this week is to think about ways to be entertained that cost absolutely nothing (or very little). From free content you can stream on your TV to free apps that teach you how to plan an instrument and much more there is something for everybody to explore. You can have a good time, and save some extra dough!

Episode 96 - Budget with an Open Mind

This episode is a bit different than our usual so buckle in and get ready for a rant. We discuss various spending categories and why it’s important to keep an open mind when you are starting to make budget cuts. Instead of immediately thinking it would be impossible to spend a lower amount each month why not set a goal to spend 5% less in a category than the month before? All these baby steps add up and after all, a Millionaire is Made $10 at a time.

Episode 92 - Content Creators

In a world with so much free content how will the payment system change in the future? Patreon has done a lot to help smaller creators make a living but at the same time that passes the burden onto the listeners to support their favorite producers. It’s a fast-changing industry so on this weeks episode we talk about the various models and discuss why we personally haven’t tried to monetize just yet.

Episode 91 - Guilt-Free Spending

In this weeks episode we chat about the things we actually spend money on and when we do spend money we don’t have any guilt about it! We chatted last week about how we don’t follow a strict budget so while we don’t go overboard in any of these categories we’ve learned to be at peace with our spending levels.

Episode 89 - How Much Should You Save for College?

A large goal for many of our listeners is to help pay for their childs college education. With college costs increasing by 4% each year this can quickly inflate to a large amount. In this episode we tackle how much you need to save per month if you want to pitch in $20k each year for your childs education, this information can be found in the table below. We also chat about how to offset that cost with scholarships, community college programs and even exploring other options to education.

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