In this engaging conversation, financial expert Paula Pant shares insights from her journey as the host of the Afford Anything podcast. She emphasizes that while you can afford anything, you can't afford everything. Paula discusses the importance of identifying personal values as the foundation for financial health. She uses a tree metaphor to illustrate how solid financial roots enable long-term independence. Discover simple steps and the 20% rule that can enhance your financial decision-making, even in challenging economic times.
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insights INSIGHT
Trade-Offs Define Every Choice
Every choice involves trade-offs because resources like money, time, and attention are limited.
Managing money well trains you to manage life better and prioritize what matters most.
insights INSIGHT
Root Your Money Decisions In Values
First-principles thinking strips away tactics to reveal core values and goals as the foundation for financial decisions.
Build strategy and tactics only after clarifying values and your philosophy of life.
insights INSIGHT
What Financial Independence Really Buys
Financial independence (FI) means passive income covers your basic bills and unlocks freedom of choice.
FI enables career changes, parenting, travel, or staying put without money-driven stress.
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Financial expert Paula Pant explains how you can afford anything, but not everything.
It's oh-so-easy to look at shiny, quickly rewarding options for your money as a ticket to financial independence. A big hit on the stock market; a hockey sticking cryptocurrency; an app that can put you on the path to easy street. But truly building financial independence is a life-long process, says Paula Pant, the host of the Afford Anything podcast.
Think of your finances like a tree. While the leaves and fruit are grabby and exciting, they aren't where the tree's strength lies: that's in the roots. So too do healthy finances begin from a core base: figuring out what you value most, what you truly want to afford.
From there, you can make the long term plans to see that come to fruition. With a stable, value-driven approach and some discipline, a world of freedom can open before you. You may not be able to buy everything, but you can buy anything.
0:00 Afford anything (not everything)
1:03 First principles thinking
2:30 Financial independence
3:35 Simple steps to independence
4:31 The 20% rule
5:18 Survive a scary economy
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About Paula Pant:
Paula Pant is the host of the Afford Anything podcast, an award-winning show with more than 24 million downloads. It was named by the New York Times as one of “7 Podcasts Your Wallet Will Love.”
She is also the founder of Afford Anything, a personal finance brand with more than 75,000 newsletter subscribers.
She is a Knight-Bagehot Business and Economics Journalism Fellow at Columbia University.
Pant is frequently featured in financial media including Money Magazine, the Washington Post, Oprah.com, CNBC, Fortune, Marie Claire, Marketplace Money, Men’s Health, Real Simple, Outside Magazine, Cosmopolitan, the New York Times, and more. She’s spoken at the “Talks at Google” series and guest lectured at Georgetown University. She lives in New York City.
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