So Money with Farnoosh Torabi 1893: Ask Farnoosh: Smart Budgeting Hacks, Earning More Outside Work and Tackling Credit Card Fees
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Oct 17, 2025 Discover how to simplify budgeting without tracking every penny while maintaining a solid savings rate. Learn to leverage paid time off for side income and the importance of transparency with employers. Navigate high credit card fees with practical tips on downgrading or negotiating. Plus, find out how to handle medical bills wisely by delaying payments until after insurance reviews. Tune in for insightful advice to spruce up your finances and boost your income!
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Gen Z's Soft Saving Mindset
- Gen Z prioritizes quality of life over aggressive saving, often choosing present experiences over extra bank balances.
- Farnoosh cautions to still save a small percentage now because even modest investing compounds into meaningful future gains.
Financial Grit Drives Bigger Retirement Savings
- Financial grit — persistence and resisting short-term temptations — correlates with nearly 50% higher retirement savings, independent of income.
- Farnoosh notes grit can be built through small wins like forming an emergency fund to boost resilience and saving habits.
Automate Savings, Then Spend Intentionally
- Automate savings and fixed costs at the start of the month, then intentionally spend the remainder to avoid overspending.
- Use a flexible rule like 45% needs, 25% wants, 30% savings if your current savings rate is higher than typical benchmarks.
