We’re Debt Free. Now What?

After years of paying off debt, many families wonder what to do next. In this episode, we answer a question from Brian in Michigan, who just became debt-free with his wife and wants to know how to make the most of their extra $1,000 per month.

We share five time freedom moves to help families use that money wisely, from building an emergency fund and reassessing insurance coverage to investing for Coast FIRE and starting a 529 plan for their new baby’s future. We also discuss how to avoid lifestyle inflation and use money to buy time, not things.

Then, in our Be The Change segment, we talk with Keith Wargo, President and CEO of Autism Speaks, about financial planning for families with special needs children and how their organization supports parents navigating the system.

Finally, we wrap up with a fun Money Quiz featuring Calvin Hill, testing his financial knowledge on debt, giving, and net worth.

PODCAST CHAPTERS

00:00 – Use money to buy time, not things
00:22 – Welcome and episode overview
01:00 – Question of the month from Brian in Michigan
02:10 – Step 1: Build savings and your safety net
03:40 – Step 2: Reassess insurance coverage
05:00 – The power of protecting your family
06:20 – Step 3: Invest for Coast FIRE
07:30 – Our Coast FIRE journey and growth
09:00 – Step 4: Start a 529 plan for your child’s future
10:00 – Lump sum investing and early start benefits
11:00 – Step 5: Focus on time freedom, not lifestyle inflation
14:00 – Be The Change with Autism Speaks
15:00 – Financial planning for special needs families
16:45 – ABLE accounts and special needs trusts
23:00 – How to get started with financial planning
25:30 – How to support Autism Speaks
28:20 – Money Quiz with Calvin Hill
34:20 – Closing message: time, freedom, and family

RESOURCES & NOTES

💰 Crew – Family-friendly banking with high-yield savings, kids’ debit cards, and shared budgeting for couples: https://marriagekidsandmoney.com/crew

💙 Autism Speaks – Learn more or donate to support families: https://www.autismspeaks.org

📘 Own Your Time – Pre-order our first book: https://marriagekidsandmoney.com/book
💰 Sponsors, Deals & Partners – See all current offers in one place: https://marriagekidsandmoney.com/sponsors
▶️ YouTube – Subscribe to watch videos and interviews: https://www.youtube.com/marriagekidsandmoney

HOW WE MAKE MONEY + DISCLAIMER

This show may contain affiliate links or links from our sponsors where we earn a commission, direct payment, or products at no extra cost to you.

Opinions are our own.

Information shared on this podcast is for entertainment purposes only and should not be considered professional financial advice. Always seek the guidance of a licensed financial professional for your specific situation.

Marriage Kids and Money (https://www.marriagekidsandmoney.com) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by linking to Amazon.com.

CREDITS
Podcast Artwork: Liz Theresa
Editor: Johnny Sohl

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EP405 香即是臭