Inside Out Money

Liz joins this week's podcast, and we introduce the concept of lifestyle inflation or creep and share how our lifestyles have inflated in the last 10-20 years. We discuss the research on what makes people happy, the concept of hedonic adaptation, and the hedonic treadmill, and we go deep on whether we can genuinely admit or realize when our ego is driving our purchase decisions. Lifestyle inflation isn’t always bad, though we both strive to be intentional with our spending. We then dig into individual spending categories and reveal how our lifestyles have inflated over the years.  Get the full show notes, show references, and more information here: https://insideoutmoney.org/007-do-118-yoga-pants-make-you-happier-lifestyle-creep-and-lifestyle-satisfaction/

The podcast discusses the top 10 foundations of personal finance, including spending less than you make, creating a budget, automating savings, accumulating appreciating assets, and avoiding depreciating assets. They also emphasize the importance of investing early and often, living almost debt-free, and taking responsibility for your retirement. Lastly, they highlight the need for partners to agree on financial principles. Throughout the podcast, the hosts also share personal anecdotes about cycling races, tie-dye shirts, and their podcast journey.

Greg joins this week's podcast, and we discuss our reflections and finances one year into early retirement. First, we share advice our campFI friends have given us along the way as we share how the first year of early retirement has been going. We then share what’s working well, what we’d like to improve, and the journey of feelings and experiences we’ve been through in our first year not working after each of us spent 20+ years working in Corporate America. We wrap up the episode by sharing what our family of 5 spent during our first 12 months early-retired and how our net worth looks a year later.   Get the full show notes, show references, and more information here: https://insideoutmoney.org/005-reflections-on-one-year-of-early-retirement/

We talk about the parallels between physical fitness and financial fitness, both taboo topics to many, and how they are both quite different yet also similar in some ways. Co-host Liz from @lizgetsloaded introduces herself as one of the rotating hosts and shares her passion for getting loaded and how she and Maggie met. We start off with sharing the easiest way to be thin and rich, while we delve into the systemic, psychological, genetic, and environmental factors that influence both. To close, we share thoughts on how you can make this discussion actionable and intentional.   Get the full show notes, show references, and more information here:  https://insideoutmoney.org/004-the-easiest-way-to-be-thin-and-rich/

Investing in index funds and dollar cost averaging are the boring yet effective ways to invest. Co-host Andrew introduces himself as one of the rotating hosts and shares his passion for personal finance, sourdough bread baking, and cycling. We discuss the history of index funds, the benefits of investing in index funds, and how dollar cost averaging works. We share the key messages from John Bogle’s book “The Little Book of Common Sense Investing.” We also delve into the concept of dollar-cost averaging, explaining what it is and why it is so powerful and how the psychology of it can help you avoid decision fatigue.   Get the full show notes, show references, and more information here: https://insideoutmoney.org/003-how-and-why-to-invest-in-index-funds/

Why do we spend money the way we spend it? We attempt to break down the psychology of spending, exploring the complex combination of personal, societal, and cultural factors that influence how we spend our money. Co-host Erica introduces herself as one of the rotating hosts and shares her background, money story, and her love of baseball. Next, we dig into the top reasons people overspend and explore how our upbringing, cultural background, and exposure to advertising and marketing can shape our attitudes and behaviors around money. Finally, we encourage you to reflect on your spending habits and set practical goals for improving your financial health. Ultimately we’re focused on understanding the psychological drivers of our spending behaviors and taking intentional steps toward financial well-being. Get the full show notes, show references, and more information here:  https://insideoutmoney.org/002-why-we-spend-the-way-we-spend/

Let this first episode be your fresh start as we discuss the fresh start effect. Co-host Greg introduces himself as one of the rotating hosts and shares his background, interests, and experience with early retirement. Next, we introduce the fresh start effect, a phenomenon where people are more likely to tackle their goals immediately following salient temporal landmarks, and how to use it as a tool for personal finance success. A temporal landmark can be developmental milestones, life transitions, and other occasions. Maggie discusses her experience with ending the friends on FIRE podcast and how Inside Out Money is her fresh start. We end with a discussion about how this podcast can help to be your fresh start with your finances, and the best part is you get an ongoing accountability partner every week with new episodes each Monday.  Get the full show notes, show references, and more information here: https://insideoutmoney.org/001-the-fresh-start-effect/

Welcome the the Inside Out Money podcast. Inside Out Money is a personal finance podcast focused on redefining wealth from the inside out. Improving your finances isn't just about the math, it's about the mind. The math is the easy part, the right mindset is the harder part. Join us for a FUN weekly podcast with your host Maggie and a rotating set of co-hosts, friends, and interviews. The first four episodes will launch May 15, 2022! Get the full show notes and more information here: https://insideoutmoney.org/000-welcome-to-inside-out-money/