The Money with Katie Show

What advice would we go back and tell ourselves in our early 20s, and how has our perspective on money changed as we approach our 30s? Katie and Henah chat through 10 tips they'd share, from intimately understanding your spending to prioritizing experiences to saving for childcare costs long-term.Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.-Mentioned in the Episode The importance of starting to save early for retirement: https://moneywithkatie.com/blog/more-money-retirement-financial-literacy Consumption theory: https://www.britannica.com/topic/consumption/Consumption-theory -Read Money with Katie: https://moneywithkatie.com/Follow Money with Katie!Instagram - https://www.instagram.com/moneywithkatieTwitter - https://twitter.com/moneywithkatieTikTok - https://www.tiktok.com/@moneywithkatie Learn more about your ad choices. Visit megaphone.fm/adchoices

CARDS MENTIONED IN THIS EPISODE, IN ORDER: http://www.moneywithkatie.com/2023travelIf you’ve ever wanted to take a more intentional approach to your credit cards and travel (or just tune up an existing approach!), this week’s episode is a must-listen. File “travel rewards” under the “sounds too good to be true but isn’t” category, with the major caveat that it’s a little like playing with fire: As long as your spending habits aren’t flammable, you stand to gain a lot.We called in travel rewards pro Benét Wilson—former Senior Cards Editor at The Points Guy and freelance aviation journalist—to weigh in and pressure-test our Money with Katie strategy, because this landscape is always changing—and the episode made me realize there’s at least one hotel card I need to consider adding to my wallet lineup.Learn more about our sponsor, Vin Social: https://www.vinsocial.vipLearn more about our sponsor, Fidelity: https://fidelity.com/stocksbythesliceLearn more about The CFA Institute: https://www.cfainstitute.org/en/programs/cfaTranscripts can be found at podcast.moneywithkatie.com.—Mentioned in the Episode Money with Katie's 2023 Travel Rewards Strategy: http://www.moneywithkatie.com/2023travel How to Travel For Free 101 Series: https://www.morningbrew.com/money-with-katie/subscribe/travel-rewards-101 The Points Guy's 10 Commandments of Credit Card Rewards: https://thepointsguy.com/guide/ten-credit-card-commandments/amp/ Rich Girl Roundup on how credit works: https://link.chtbl.com/QXmxdYU_ How TPG staffers track their credit card miles/points: https://thepointsguy.com/guide/tpg-strategies-track-points-miles-cards/amp/ Chase 5/24 rule: https://thepointsguy.com/guide/ultimate-guide-chase-5-24-rule/ Chase Sapphire sign-up bonus: https://financebuzz.com/chase-sapphire-48-month-rule How to redeem points: https://thepointsguy.com/credit-cards/airlines/beginners/ Cash or points for travel? Here's how to decide: https://moneywithkatie.com/blog/cash-or-points-for-travel The Points Guy calculator: https://thepointsguy.com/calculator/ Chase transfer partners (as of April 2023): https://www.nerdwallet.com/article/travel/chase-transfer-partners-guide American Express transfer partners (as of April 2023): https://thepointsguy.com/guide/membership-rewards-partner-guide/ —Follow Along at Money with Katie: https://moneywithkatie.com/Watch on YouTube: https://www.youtube.com/@MoneywithKatieFollow Money with Katie!- Instagram: https://www.instagram.com/moneywithkatie/- Twitter: https://twitter.com/moneywithkatie Subscribe to The Money with Katie Newsletter- Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2Follow the Brew!- Instagram: https://www.instagram.com/morningbrew/- Twitter: https://twitter.com/MorningBrew- TikTok: https://www.tiktok.com/@morningbrew Learn more about your ad choices. Visit megaphone.fm/adchoices

Whether you receive an inheritance or win the lottery, they can both be treated like receiving new income. Katie and Henah chat through what they would do with a big lump sum, including paying off debts, investing in experiences and companies, and if Katie would continue to rent. 👀Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.-Mentioned in the Episode Inheritance taxes: https://turbotax.intuit.com/tax-tips/estates/what-are-inheritance-taxes/L93IUc3sC Estate taxes: https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax Treading lightly on unexpected income: https://podcast.moneywithkatie.com/how-to-deal-with-unexpected-expenses/ -Read Money with Katie: https://moneywithkatie.com/Follow Money with Katie!Instagram - https://www.instagram.com/moneywithkatieTwitter - https://twitter.com/moneywithkatieTikTok - https://www.tiktok.com/@moneywithkatie Learn more about your ad choices. Visit megaphone.fm/adchoices

“Dude, why is being alive so expensive?”—an actual sentence I said aloud to Henah back in January when my dog needed surgery, my husband and I got a giant tax bill, Henah’s travel insurance wouldn’t come through, and a formerly in-network doctor informed her she owed them a large sum since they were now (surprise!) out-of-network. (USA! USA!)One of the rudest awakenings of adulthood is the realization that simply paying for the boring stuff eats up a lot of your income, which can be incredibly demoralizing when you’re trying to make progress.So which tactics (both financial and psychological) can help you plan for the mundane or unexpected? Will this ever stop, or do your financial problems just scale proportionally with your net worth?Learn more about our sponsor, Vin Social: https://www.vinsocial.vipLearn more about our sponsor, Droplette: https://droplette.io/. Use promo code MONEYWITHKATIE for 50% off.Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbythesliceTranscripts can be found at podcast.moneywithkatie.com.—Mentioned in the Episode Money with Katie blog, "Being Poor is Expensive": https://moneywithkatie.com/blog/the-paradox-of-riches-being-poor-is-expensive Preventive care services in the US: https://www.healthcare.gov/coverage/preventive-care-benefits/ —Follow Along at Money with Katie: https://moneywithkatie.com/Watch on YouTube: https://www.youtube.com/@MoneywithKatieFollow Money with Katie!- Instagram: https://www.instagram.com/moneywithkatie/- Twitter: https://twitter.com/moneywithkatie- Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2Follow the Brew!- Instagram: https://www.instagram.com/morningbrew/- Twitter: https://twitter.com/MorningBrew- TikTok: https://www.tiktok.com/@morningbrew Learn more about your ad choices. Visit megaphone.fm/adchoices

A listener asks, "How can I plan for my parents' later years in life, and how can I start that conversation?" Katie and Henah reflect on conversations they've had with their own families, what to do (hint: prep a life audit!), and caveats to consider. (And, if you want us to go into this topic more in-depth, email us at moneywithkatie@morningbrew.com!)Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.-Mentioned in the Episode 92% of Americans say it's important to discuss wishes for end-of-life care, but only 32% of had the conversation, per The Conversation Project: https://theconversationproject.org/about/ Where to start with end-of-life planning with loved ones: https://www.vox.com/even-better/23378958/end-of-life-planning-elders-parents-grandparents-loved-ones -Read Money with Katie: https://moneywithkatie.com/Follow Money with Katie!Instagram - https://www.instagram.com/moneywithkatieTwitter - https://twitter.com/moneywithkatieTikTok - https://www.tiktok.com/@moneywithkatie Learn more about your ad choices. Visit megaphone.fm/adchoices

When Amazon Prime dropped the LuLaRich documentary in 2021, it was one of the first times the population at large got to peek behind the curtain at one of the largest multilevel marketing companies in the world—and boy, did it take internet voyeurs by storm.The timing of (and snark generated by) such an explosive exposé was especially interesting, given the other pyramid scheme-y thing playing out in 2022: NFTs, shitcoins, and meme stocks.It feels like we should’ve learned our collective lesson by now—but are the get-rich-quick schemes that plague our DMs and Twitter feeds evolving faster than we are? What’s a Boss Babe to do?Learn more about our sponsor, Vin Social: https://www.vinsocial.vipLearn more about our sponsor, Droplette: https://droplette.io/. Use promo code MONEYWITHKATIE for 50% off.Learn more about our sponsor, Fidelity: https://fidelity.com/stocksbythesliceTranscripts can be found at podcast.moneywithkatie.com.—Mentioned in the Episode Amanda Montell's Cultish: https://bookshop.org/a/90396/9780062993151 LuLaRich: https://www.amazon.com/LuLaRich-Season-1/dp/B09CFXPNSX LuLaRich trailer: https://www.youtube.com/watch?v=mIkcrQzTr8w&ab_channel=AmazonPrimeVideoUK How LuLaRoe worked: https://www.youtube.com/watch?v=4411N0nAELY&ab_channel=AmazonPrimeVideoUK The Sam Dee on YouTube, sharing their experience as a LuLaRoe retailer: https://www.youtube.com/watch?v=u-TO2-d10S0&ab_channel=TheSamDee The Dream podcast: https://podcasts.apple.com/us/podcast/s1-e1-wanna-swim-in-cash/id1435743296?i=1000420324159 The Airplane Game from the 1980s: https://apnews.com/article/7894d03521da555b7ea45e6f78323fbb "Blessing Loom" scam alert: https://www.bbb.org/article/news-releases/22255-bbb-scam-alert-easy-money-blessing-loom-nope-pyramid-scheme Benjamin M. Friedman's Religion and the Rise of Capitalism: https://bookshop.org/a/90396/9780593311097 Protestant ethic, per the Encyclopedia Britannica: https://www.britannica.com/topic/Protestant-ethic James Jani on YouTube, sharing about the prosperity gospel: https://www.youtube.com/watch?v=hTfKpAWkgJY&t=771s&ab_channel=JamesJani —Follow Along at Money with Katie: https://moneywithkatie.com/Watch on YouTube: https://www.youtube.com/@MoneywithKatieFollow Money with Katie!- Instagram: https://www.instagram.com/moneywithkatie/- Twitter: https://twitter.com/moneywithkatie Subscribe to The Money with Katie Newsletter- Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2Follow the Brew!- Instagram: https://www.instagram.com/morningbrew/- Twitter: https://twitter.com/MorningBrew- TikTok: https://www.tiktok.com/@morningbrew Learn more about your ad choices. Visit megaphone.fm/adchoices

Understanding credit can be tricky—but it's an invaluable part of our financial toolboxes since it affects our ability to buy a home, access loans, etc. Katie and Henah break down the history of credit, how it works, tips to keep in mind while building your credit score, and more.Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.-Mentioned in the Episode Consumer Finance statistic on 26M Americans being credit invisible: https://www.consumerfinance.gov/about-us/newsroom/cfpb-report-finds-26-million-consumers-are-credit-invisible/ How Your Credit is Calculated: https://www.equifax.com/personal/education/credit/score/how-is-credit-score-calculated/ Annual Credit Report: https://www.annualcreditreport.com/index.action Credit Karma: https://creditkarma.com/ How to Save for Your Child's Future: https://link.chtbl.com/u7JzWqOz -Read Money with Katie: https://moneywithkatie.com/Follow Money with Katie!Instagram - https://www.instagram.com/moneywithkatieTwitter - https://twitter.com/moneywithkatieTikTok - https://www.tiktok.com/@moneywithkatie Learn more about your ad choices. Visit megaphone.fm/adchoices

Bill Bengen, who established the 4% safe maximum withdrawal rate (the rule on which most of financial planning relies), is a straight shooter, and his perspective on whether or not we’re currently in uncharted waters surprised me.But fear not—there’s a little-discussed element of planning for early (as well as regular!) retirement that might be our saving grace. We’ll unpack that, too.Learn more about our sponsor, Vin Social: https://www.vinsocial.vipLearn more about our sponsor, TaxAct: https://www.taxact.com/moneywithkatieLearn more about our sponsor, Fidelity: https://fidelity.com/stocksbythesliceTranscripts can be found at podcast.moneywithkatie.com.—Mentioned in the Episode The 4% Rule by Bill Bengen: https://www.retailinvestor.org/pdf/Bengen1.pdf Our previous episode on the 4% Rule: https://podcast.moneywithkatie.com/the-most-dangerous-misconceptions-about-the-4-safe-withdrawal-rate/ —Follow Along at Money with Katie: https://moneywithkatie.com/Watch on YouTube: https://www.youtube.com/@MoneywithKatieFollow Money with Katie!- Instagram: https://www.instagram.com/moneywithkatie/- Twitter: https://twitter.com/moneywithkatie Subscribe to The Money with Katie Newsletter- Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2Follow the Brew!- Instagram: https://www.instagram.com/morningbrew/- Twitter: https://twitter.com/MorningBrew- TikTok: https://www.tiktok.com/@morningbrew Learn more about your ad choices. Visit megaphone.fm/adchoices

Whether it's for tuition expenses or weekly allowances, Katie and Henah chat through short-, middle-, and long-term strategies on saving for your children's future, including the 529, Roth IRA, and UGMA/UTMA for minors.Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week.-Mentioned in the Episode Previous RGR on Teaching Kids About Money: https://youtu.be/Y2Y-cOAKBuM Best Debit & Credit Cards for Kids (updated monthly): https://www.businessinsider.com/personal-finance/best-debit-card-for-kids The 529 (Qualified Tuition Programs): https://www.irs.gov/taxtopics/tc313 UTMA & UGMA for Minors: https://www.nerdwallet.com/article/investing/utma-ugma -Read Money with Katie: https://moneywithkatie.com/Follow Money with Katie!Instagram - https://www.instagram.com/moneywithkatieTwitter - https://twitter.com/moneywithkatieTikTok - https://www.tiktok.com/@moneywithkatie Learn more about your ad choices. Visit megaphone.fm/adchoices

“Luck” is where opportunity meets preparation, right? Fantastic financial outcomes are the culmination of a lot of factors coalescing in a very specific way, but we tend to only focus on one: effort.So much American lore (and by extension, American…personal finance advice?) is constructed on the foundation of the self-made meritocracy. One such “statistic” that often gets touted in these conversations: Somewhere in the ballpark of 88% of US millionaires are “self-made.” But where does that figure come from? How was it determined? And where do its implications fall dangerously short?We chat with Shannon McNamara, host of the Fluently Forward podcast, all about it.Learn more about our sponsor, Vin Social: https://www.vinsocial.vipLearn more about our sponsor, TaxAct: https://www.taxact.com/moneywithkatieLearn more about our sponsor, Fidelity: https://fidelity.com/stocksbythesliceTranscripts can be found at podcast.moneywithkatie.com.—Mentioned in the Episode The Fluently Forward podcast: https://podcasts.apple.com/mk/podcast/fluentlyforward/id1589952385 Here's How 9 Billionaires Start Their Mornings, per Insider: https://www.businessinsider.com/billionaire-morning-routine-mornings-oprah-zuckerberg-bezos-musk-buffett-gates-2019-1 A History of Hating the Rich for the Saturday Evening Post: https://www.saturdayeveningpost.com/2020/02/a-history-of-hating-the-rich/ "88% of all millionaires are self-made," per US News: https://money.usnews.com/money/blogs/on-retirement/articles/7-myths-about-millionaires 2017 Fidelity Investments Study: https://institutional.fidelity.com/app/proxy/content?literatureURL=/9884619.PDF The National Study of Millionaires from Ramsey Solutions: https://www.ramseysolutions.com/retirement/the-national-study-of-millionaires-research US Bureau of Labor Statistics on inheritances: https://www.bls.gov/osmr/research-papers/2011/pdf/ec110030.pdf Hailey Baldwin Bieber on the Forbes 30 Under 30: https://people.com/style/hailey-bieber-lands-cover-of-forbes-30-under-30/ Kendall Jenner on work: https://www.refinery29.com/en-us/2018/08/207820/kendall-jenner-modeling-comments-response Kendall Jenner on "having to fly all over Europe:" https://www.the-sun.com/entertainment/6416481/kendall-jenner-kardashian-out-touch-delusional-modeling-career/ Elon Musk on now-deleted Forbes article on his father's emerald mine: https://web.archive.org/web/20140802011449/http://www.forbes.com/sites/jimclash/2014/07/28/elon-musk-tells-me-his-secret-of-success-hint-it-aint-about-the-money/ 90% of millionaires are male: https://www.verdict.co.uk/90-percent-millionaires-male/ 8 Ways Rich People View the World Differently: https://www.cnbc.com/2016/10/11/8-ways-rich-people-view-the-world-differently-than-the-average-person.html —Follow Along at Money with Katie: https://moneywithkatie.com/Watch on YouTube: https://www.youtube.com/@MoneywithKatieFollow Money with Katie!- Instagram: https://www.instagram.com/moneywithkatie/- Twitter: https://twitter.com/moneywithkatie Subscribe to The Money with Katie Newsletter- Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2Follow the Brew!- Instagram: https://www.instagram.com/morningbrew/- Twitter: https://twitter.com/MorningBrew- TikTok: https://www.tiktok.com/@morningbrew Learn more about your ad choices. Visit megaphone.fm/adchoices