Inside Out Money

Learn about the CAPE ratio and SORR metrics in investing, their calculations, and importance for future planning. Discover how these metrics can impact early retirement plans, market valuation, and risk mitigation strategies.

Three families share what we spent in the first half of 2024. Who’s spending is the highest and lowest? And is there really a winner or loser!? We’re big fans of intentional spending and not spending more than you earn. We share the nitty gritty details of our spending so far in 2024.   Liz, Andrew, and Greg join this week’s podcast as we talk about: - Why we track our expenses - How we track our expenses and why we’ve all shifted to using Monarch - How much are families spent for the first six months of 2024 - Category breakdowns of our spending, from travel to medical to groceries - What we feel good about and what we want to improve in the second half of 2024 - Intentional spending Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/066-mid-year-spend-review-with-liz-andrew-and-greg/

Secondhand products can save you money, save the planet, help others earn money, build community, and so much more! We encourage everyone to think secondhand first anytime they want or need something. Liz joins this week’s podcast as we talk about: - Benefits of shopping secondhand and thrifting - Best practices and tips for shopping secondhand - How to keep an eye out for scammers when buying used items on Facebook marketplace - Resources for where to shop secondhand - Some of our best secondhand purchases - What we’re willing to buy secondhand versus what we’d prefer to buy new Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/065-get-apple-products-80-off-and-save-the-planet-shopping-secondhand-for-the-win/

Packing less and spending less while traveling abroad or domestically is possible and can make travel much more enjoyable! Travel a bit lighter and spend a bit less to splurge on the stuff that matters. Join us for a discussion on intentional travel spending. Greg joins this week’s podcast as we talk about: - Why we pack light when traveling with our three kids - What we pack and how we make it work - How we spend light when traveling - What we spend less on versus where we splurge while traveling - How trip budgets have transformed traveling with kids - Actionable tips for saving money on airfare, rental cars, accommodations, international cell phone plans, and more Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/064-packing-light-and-spending-light-white-traveling/

It’s not about what you make, it’s about the difference between what you make and what you spend. If you know those two numbers you can calculate your savings rates, and if you know it you can improve upon it. Liz joins this week’s podcast as we talk about: - The number one most important metric for achieving early retirement - How to calculate your savings rate - What our savings rates are and have been - How your savings rate equates to the number of years you need to work - How to increase your savings rate Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/063-number-one-early-retirement-metric-your-savings-rate/

Learn about tracking expenses, negotiating realtor fees, saving money on housing expenses, and strategic ways to optimize streaming subscriptions. Discover tips on mindful spending, financial values, and the cost vs. benefits of hiring a lawn service.

Start doing the things rather than just saying the things. Learn how to transform your intentions into actions and, in the process, close the execution gap that many of us struggle with.  Erica joins this week’s podcast as we talk about: - How to transform your intentions into actions - Closing the execution gap - The power of habits and our favorite book on building habits - The challenges we all face in translating intentions into consistent actions - The psychological factors that influence the execution gap - How intentions alone don’t lead to results - Specific tactics for shifting from intentions to actions - A challenge to choose one actionable step each day to move forward toward your goals Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/061-transform-intentions-into-action-navigating-the-execution-gap/

In this discussion, Greg, an expert on the science of perfectionism, sheds light on its dual nature—both motivational and harmful. He breaks down the three types of perfectionism and distinguishes it from imposter syndrome. Greg emphasizes the importance of prioritizing progress over perfection in finances. Tips for combating perfectionism highlight the need for self-compassion and a healthy balance in personal standards. Overall, this enlightening conversation encourages embracing vulnerabilities to foster personal growth and effective financial habits.

Finances can be one of the most stressful parts of a relationship, but they don’t need to be. We share actionable advice for setting up your finances with your partner, focusing on transparency and alignment. Liz joins this week’s podcast as we talk about: - The various ways to organize your finances with a partner or spouse - The pros and cons of splitting versus combining finances - Multiple ways to tactically split expenses  - Importance of a money management philosophy and approach with your partner - The value of financial transparency with your partner - Prenups and what we think of them - Why and how to have money dates with your partner Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/059-splitting-finances-with-your-partner-practical-approaches-for-financial-transparency/

The financial services industry often profits from the misconception that managing your investments is too complex, leading you to believe that you should pay them to do it for you. This just isn’t true, and we debunk this myth and explain how to transition from relying on a financial advisor to managing your own investments. Andrew joins this week’s podcast as we talk about: - Why it’s so important to consider the long-term cost of financial advisor’s fees - The differences between a commission-based and fee-based/hourly financial advisor - Why you don’t need a commission-based financial advisor or planner - Examples of how much fees add up and impact your financial growth - Historically average market returns beat financial advisor portfolios  - How to break up with your financial advisor  - A specific email or phone script for what to say to end the relationship - The specific process of transitioning from an advisor to managing on your own - Gain the confidence to learn how to invest in low cost index funds yourself Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/058-breaking-up-with-your-financial-planner-why-and-how-to-do-it/