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How to Money

Ask HTM - Consolidating Multiple Retirement Accounts, Rolling Equity into a New Home, & Keeping Up with an Allowance #832

May 27, 2024
Topics covered in this episode include managing equity when buying a new home, tracking kids' savings while shopping, prioritizing retirement accounts, and standing out in rental competitions. Also discussed are teaching financial skills at work, real estate investment strategies, teaching kids financial responsibility, and streamlining finances for better investments. The hosts also highlight strategies for finding housing in competitive rental markets and rate a beer tasting experience.
53:25

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Quick takeaways

  • Equity in current home should be factored when shopping for a new one, aiding in financial planning.
  • Using a mix of physical jars for savings and digital allowance systems can enhance financial education.

Deep dives

Teaching Finances to Kids

Empowering children to manage their money is crucial. Megan instills financial responsibility by using the 'spend, save, share' jar system for her kids' allowances. By allowing them to make mistakes with low stakes, she fosters financial learning. To track their funds effectively, options like the Greenlight credit card or digital apps can provide real-time oversight, while teaching kids financial autonomy and accountability.

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