Frugal Friends Podcast

The Frugal Friends take a look at the fundamental need and expense of shelter! In this episode Jill shares her adventures in non-traditional housing solutions and Jen talks house hacks and how she uses her home as income property. A number of internet articles are explored and the pros and cons of renting versus buying are equitably discussed.Notable Notes What the Internet has to say  Market Watch Article Jacob Passy boldy supports his claims that, in some cases, it makes more sense to rent than buy. Citing shifts in economics and the housing market, Jacob gives a convincing argument to stick with the landlord, and enjoy the freedom that comes with renting.  You do run the risk of rent inflation but when you own your taxes increase too so you’re not immune. Renting includes being absolved from fixing anything that breaks, renters insurance is a fraction of the cost of homeowners insurance, you don’t have to pay property taxes, there is no interest lost when you rent. Jen -"we love our house but it's a luxury". The house you live in isn’t an investment, it’s a home. Until you’re ready to incur the cost of maintenance, upkeep, and designing it to be a place you love, no one, including yourself, should rush you into buying. You’re not missing out on anything by renting, it’s the frugal thing to do. mic drop. What Jen and Jill have to say The Case for Renting Jill shares on her journey of renting inexpensively, living in an RV, house-sitting, and living with grandma!Get paid to care for your elderly family membersCaring for Elderly Alternative Housing 1) rates are always at “attractive lows” and housing prices are always “only going up from here” 2) Start doing best practices to increase your credit score and decrease your your debt-to-income ratio (less than 28%). Better yet, get out of debt first! Your goal is to qualify for a conventional loan. 3) Save your downpayment (the more you save the lower your interest rate and less PMI you’ll have to pay.) And look at grants. Things to Remember Coach Carson Article Chad Carson gives a very thorough description (with pictures!) of his 'house hacking' journey. The article includes Chad's own break down of the costs incurred and revenue accrued from his fourplex, along with a creative guide for others who are interested in 'house hacking'.  Chad Carson is who Jen learned house hacking from - she always assumed it was an option, but Chad actually gave it a name!  Jen's version of 'house hacking' includes renting out a room in their single family home on Airbnb What Jen and Jill have to say What the Internet has to say Ready to Buy Mr. Money Mustache Article Mr. Money exposes the true cost of commuting and dispels the myth that 'commuting is a good way to save money'  Some people think opting for lower rent outside the city and settling for a 30-40 minute commute is the smart thing to do, but the frugal friends disagree. Jen agrees with Mr. Money Mustache that you should pay the higher rent to live close to your work and life if you’re willing to 1) bike to work 2) sell you What Jen and Jill have to say What the Internet has to sayThe Case Against a Commute See omnystudio.com/listener for privacy information.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Frugal Friends discuss FOOD! Jen and Jill turn to the internet to see what others have to say about saving money on food, reducing waste, and still maintaining a healthy diet. Of course, the organic debate does come up; but thank you Aldi for not polarizing us!Notable Notes Root and Revel Article In this article, Kate lists 30 ways to save money and eat healthy on a budget. Included is the 'cheat sheet' on where to prioritize purchasing organic, how to make your own condiments, and resources to buy and support local agriculture.  Buy food, use food Reduce animal product consumption Disagree with meal kit delivery service one Drink water! It's good for you! What Jen and Jill have to say Sustainable Baby Steps Article This writer argues that healthy food does not have to be expensive, and gives a strong case for why eating smart only appears to cost a lot of money. A long list of cheap, healthy food is given, and links to recipes are provided.  Sustainable baby steps show you save money with whole foods but you pay in time The list of healthy and inexpensive snacks and foods is a winner! Learning how to cook, and the flavors you enjoy is key to embracing food the frugal way What Jen and Jill have to say What the internet has to say THANK YOU Aldi!The Organic Debate BILL OF THE WEEK  Eating healthy is cheaper, but you pay in time and taste (unless you learn how to cook!) Budget your time (i.e. meal prep) Improve taste; research & practice makes perfect Wrap Up See omnystudio.com/listener for privacy information.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We discuss one of our most basic needs and how to spend and save smartly on our clothing. Beyond the purchase of clothing, the Frugal Friends also explore proper care, and maintenance to increase the longevity of our clothing.Notable Notes: Penny Hoarder Article The article shares 20 ways to save money on clothes. Tips include saving, spending intentionally, and even preserving and properly washing clothing. Thrift stores - YES! Hang dry clothing - Frugal Friends call this a 'two birds, one stone' situation; preserve clothes, AND save on utility costs Compartments in the washing machine explained HERE Dry Clean at home DIY Dry Cleaning What Jen and Jill have to say Money Talks Article Angela Colley shares 23 money saving tips on clothing. In a culture where the average American spends $1,800 a year on clothing, the Frugal Friends agree; we can do better! Buy out of season  Skip expensive workout clothes Organize a clothing swap with friends - another 'two birds, one stone' scenario; hanging out with friends AND getting 'new to you' clothing! What Jen and Jill have to say What the internet has to say Jen - buying quality, buying out of season, referral programs Jill - thrift stores, mending, and swapping How Jen and Jill save money on clothes underwear (the line has to be drawn somewhere!) staple shoes (i.e. boots, quality sandals) coats (out of season is still best!) What Jen and Jill WILL spend money on Thanks Lisa! The Frugal Friends think 'Bill' the dog sounds like a real gem!BILL OF THE WEEK  Wrap Up Challenge yourself to not spend money on clothes Clothing swap with friends If you have kids, clothes swap with other parents Utilize referral programs - ThredUp & Schoola See omnystudio.com/listener for privacy information.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this episode, we introduce the Frugal Friends Podcast, share a bit about ourselves, and a lot about frugality.We're excited to create a platform for sharing and learning together on this frugal journey!Frugality is for everyone; so join us by listening, engaging with our Facebook Group, taking the 90 Day Frugalizer challenge, and utilizing the links below for more resources and information on living frugally!Notable Notes: - Categories to anticipate with Frugal Friends podcast episodes  Clothing/Shopping Bills/Utilities Transportation Housing 4 Pillars Frugalwoods Article Mrs. Frugalwoods (a.k.a. Liz Thames) identifies 19 reasons why frugality is the best - and the frugal friends agree! Frugality helps you identify your true priorities Frugality builds community Frugality means you'll never be bored Frugality leads to gratitude and joy What Jen and Jill have to say: Millennial Money Article Grant went from a frugal guy who amassed $1M to flippantly spending over $200K in one year. In short; the spending didn’t make him feel better. Frugality is about spending wisely Frugality is about the journey, not the destination It is never too late to 'course correct' What Jen and Jill have to say: What the internet has to say Introduction of the most anticipated, interactive segment! Leave us a voicemail with your BILL OF THE WEEK at: 570-995-1540 BILL OF THE WEEK  (i.e. at some point you're wasting your time)The Law of Diminishing Returns ( i.e. if frugality keeps you from what you love its cheapness)Frugality allows you to discover what you truly value (i.e. you can’t buy your way to green) Frugality is good for the environment (i.e. you can have better things when you buy used and you’ll eventually stop buying those souvenir t-shirts you’ll never wear)Frugality refines your taste and style (i.e. the best way to not spend money is to spend time making it!)Frugality allows you more time to increase your income (i.e. sorry, not sorry)Frugality will not make you rich Tenets of Frugality  #frugalnotcheap See omnystudio.com/listener for privacy information.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Hi! We're Jill & Jen, your new frugal friends. We're here to help you embrace frugality and all the benefits that come with it.Are you trying to pay off debt or reach other financial goals?Do you often wonder where all your money went? Have you been looking for a community that will help you grow to your fullest frugal potential?Then join us on the where we help you save money on things you need, buy less of the things you don't, and leave more for the things you really want.Frugal Friends PodcastFrugal Friends is an accessible and informative podcast for anyone who wants to make better decisions with their money. We’re a place where people can learn together and share what’s worked for them.Everyone’s invited! We're finding joy in the simplicity of less. To follow along, Subscribe in Apple Podcasts, Stitcher, and Google Play.See omnystudio.com/listener for privacy information.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.