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.

College cost.jpg

Episode 84 - Being Rich versus Being Wealthy

When you look at the average person down the street you probably would never think they are the millionaire right? Surely that’s the person driving a fancy car and living in the bigger house right? Well typically that’s wrong! Usually it’s the frugal badasses that make less but save better than become wealthy while those that make a large income but spend it all on appearing rich never see their net worth grow.

*I was thinking of Jay Leno by the way but the car example was the wrong one to use. Here’s that article: https://www.cnbc.com/2017/03/16/jay-lenos-brilliant-money-saving-strategy-is-something-anyone-can-try.html

So probably my brain merged in this article where Jay Leno is mentioned:

https://www.hotcars.com/15-filthy-rich-celebrities-who-drive-garbage-cars/

Episode 82 - The Financial Diet

We all know that the best diets in life are the ones that are sustainable for the long run, that make us feel good about ourselves, and that work for our needs and wants to make it easier to stick with it. When you apply that same practice to your finances it actually makes a lot of sense! Whenever you create a budget you need to make sure it includes indulgences every once it a while so that you can stick with it. You also will realize that at some point when you’re in the middle of your journey it doesn’t feel exciting anymore - this is when putting things on auto pilot is your best friend. Just set it, and forget it, and you’ll be amazed how quickly you can grow your savings.

Episode 79 - How Much Does Driving Really Cost?

How many of us actually take the time to figure out how much we’re paying per mile? The answer is typically very few. In this weeks episode we break down how much your car is really costing you per mile and look at various examples to illustrate the point. What if I told you you could be $100k richer in 10 years just by driving a different car? If we think about it that way it almost feels like a no-brainer to pick the economical choice! Plus, what’s the deal with Teslas? We chat about all of that and more on this weeks episode so tune in to find out how driving a Prius can help build wealth.

Per mile cost and annual cost for various vehicles

Per mile cost and annual cost for various vehicles

Episode 77 - How to get an Auto Loan

While we’ve talked a lot about reducing vehicle expenses or using alternative forms of transportation we know that the reality is most people will eventually need an auto loan. In this weeks episode we sit down and chat about what terms you should look for, how you should get an auto loan, and how much you should spend. Once you decide to buy a car here’s the steps you should take:

  1. Figure out how much you can spend using a financial calculator like this one for example. If you enter 5% for the interest rate, $115 for the payment, 60 for the number of periods, 0 for the future value, and then change it to monthly, payments to see in that case you could spend 6,093 on a car if you wanted a 5 year loan and payments of $115.

  2. Head to your local bank or credit union to see if you can get approved for the $6,000 loan you want above and see what their interest rate would be.

  3. Find a car you want!

  4. Head to the dealer; if you qualify for their promotional financing GREAT. If not you already have financing through your credit union which is awesome and probably is a lower rate than they can give you.

  5. Don’t budge on your price, don’t get emotional. Walk if you can’t get the car you want at the price you need.

  6. Eventually, you will find the perfect car at the perfect price and drive off into the sunshine :)

Episode 76 - Stoicism: Voluntary Discomfort

Join us for the second episode for our special series on Stoicism. This week we jump in and chat about voluntary discomfort and how it can improve your life by making you more confident, more resilient, and more frugal! I know it will sound counter-intuitive but listen to this weeks episode to understand how you can actually be happier by making yourself uncomfortable.

Episode 75 - What Debt Should you Tackle First?

Join us this week as we dive into the world of being in debt. It sucks, it’s not fun, but with consumer debt rising year after year it’s a reality for most of us. We’ll talk about “good debt” versus “bad debt” and everything in between. Then we’ll break down a plan to get you started on your debt payoff journey and even talk about which debts to prioritize paying off!

Episode 74 - Stoicism - Hedonic Adaption

What if I told you I knew the secret to a happy life? A life full of peace and tranquility? Most people assume that money buys happiness and luxury is the secret to eternal bliss. In fact, that’s almost the opposite of the truth. As a famous philosopher said: “Mo money, mo problems” - oh wait that was Biggie… but he wasn’t really wrong! In fact there are some simple exercises you can do to trick your brain into valuing what you have even more and realizing that upgrading your life is not the key to happiness. The principle is hedonic adaption and really it’s a fancy way of describing that feeling you get after you take that first sip of your double espresso - but eventually as we all know, that caffeine high wears off and you are no better off than you were before. By tricking ourselves to appreciate what we have; we can come out ahead financially but more importantly in the game of life!