How to Money

Who remembers fire and tornado drills back when they were in school?! Even though in the moment they seemed like a complete waste of time, looking back as adults it’s easy to see how important it is to run a drill of what you would do in the event of a fire. And if you were in the scary scenario where you DID have a fire at your school, you were probably glad to have gone through the motions and rehearsed exactly what you should do. Insurance is kind of like a fire drill- most of the time it feels completely unnecessary, but in the rare instances where you actually need to put it to use, you’re more than happy to know you have that policy in place. And while virtually everyone is required to have car insurance, fewer folks have had the misfortune of being in an accident. So one of the problems we’re addressing today is what you should do after you’ve been involved in a car accident- it’s a surreal experience that can catch you off guard. We discuss things like diminished value and notifying your insurance company, but we also discuss how you can be financially prepared for accidents and the steps you can take to reduce the cost of insurance.   Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.  Sign up for the weekly HTM newsletter. It’s fun, free, & practical. Join a thriving community of fellow money in the HTM Facebook group. Find the best credit card for you with our new credit card tool! Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.   During this episode we enjoyed an A OK Marzen by Gruner Brothers- thanks for donating this one to the show Katie! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!   Best friends out!See omnystudio.com/listener for privacy information.

Author Katy Milkman discusses strategies for making lasting money changes, including temptation bundling, commitment devices, and peer influence. The conversation also covers the power of bonding financial habits with enjoyable activities to enhance personal finance success.

You might be tempted to think that an alternative name for this episode could be “emotionless investing”, but there’s a lot more to Stoicism and finances than that! We’re excited to be joined by Darius Foroux – he’s a prolific author, entrepreneur, and productivity expert known for his work on personal development. Much of his writing can be found over at his site, DariusForoux.com, where he focuses on wealth building, productivity, and finding meaning in work which are all topics we discuss today! Darius has written several books, including the newly published "The Stoic Path to Wealth," which blends ancient Stoic philosophy with modern financial wisdom. We cover how to create distance between you and your money, gaining a sense of calm, forming the habit of investing, building your career on top of your strengths, and much more!   Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.  Sign up for the weekly HTM newsletter. It’s fun, free, & practical. Join a thriving community of fellow money in the HTM Facebook group. Find the best credit card for you with our new credit card tool! Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.   During this episode we enjoyed a Field Trip by Monday Night Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!   Best friends out!See omnystudio.com/listener for privacy information.

Listener questions cover investing in 401k with limited options, index fund losses despite market gains, investing in carbon credits, and savings vs. home buying. Discussion on wedding costs, financial fitness, AARP preparation, avoiding high-fee products, housing market challenges, and beer tasting.

Time for a Friday Flight- our little sampling of the week’s financial news and what it means for your personal finances. There are a lot of headlines out there, but we boil them down to specific takeaways that will allow you to kick off the weekend informed and help you to get ahead with your money. In this episode we explain some relevant and helpful stories like: forever ever stamps, Costco membership price increases, personal finance 101, cohabitating to save, forgotten free streaming, ubiquitous betting, big bank threats, buh-bye paper checks, credit card disputes on the rise, longevity by design, & no dice noncompetes.   Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.  Sign up for the weekly HTM newsletter. It’s fun, free, & practical. Join a thriving community of fellow money in the HTM Facebook group. Find the best credit card for you with our new credit card tool! Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.   And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money. Have an awesome weekend!   Best friends out!See omnystudio.com/listener for privacy information.

Teaching isn’t typically synonymous with accumulating vast quantities of wealth but our guest today, Dan Otter, is here to say otherwise. And actually, it turns out that teachers have a way to totally supercharge their retirement by investing even more money than they otherwise thought possible – that’s just one of the many topics we cover. But Dan Otter is an elementary school teacher turned 403b hero in the world higher ed and teachers. He is the founder of the much referenced site, 403bWise.org, and we’re pumped to discuss the different ways that teachers (a massively underappreciated profession BTW) can financially prepare for their futures. We discuss how to know whether your 403b is any good, why more options doesn’t necessarily mean better options, alternative paths to consider if your 403b is crummy, and plenty more today!   Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.  Sign up for the weekly HTM newsletter. It’s fun, free, & practical. Join a thriving community of fellow money in the HTM Facebook group. Find the best credit card for you with our new credit card tool! Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.   During this episode we enjoyed a Blanche De Nashville by Yazoo Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!   Best friends out!See omnystudio.com/listener for privacy information.

Let’s dive into the week with some fresh listener questions we have lined up for you! And don't just stand on the sidelines- if you have a question you’d like us to answer, toss your voice memo our way. It only takes about 90 seconds to record and you can find a step by step guide over at HowToMoney.com/ask . Regardless of how random or bizarre you might think it is, we want to hear it!   1 - Is it a good idea to grab some home equity using sites like HomeTap? 2 - Why did I lose a big chunk of my retirement funds when I withdrew some of my investments? 3 - Should I consider buying the house I rent from my landlord? 4 - Do I count extra mortgage payments made to the bank when calculating my savings rate?   Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.  Sign up for the weekly HTM newsletter. It’s fun, free, & practical. Join a thriving community of fellow money in the HTM Facebook group. Find the best credit card for you with our new credit card tool! Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.   During this episode we enjoyed a Hammer Red by Sweetwater Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!   Best friends out!See omnystudio.com/listener for privacy information.

Time for a Friday Flight- our little sampling of the week’s financial news and what it means for your personal finances. There are a lot of headlines out there, but we boil them down to specific takeaways that will allow you to kick off the weekend informed and help you to get ahead with your money. In this episode we explain some relevant and helpful stories like: the slowest workday of the summer, the SAVE seesaw, overspending own goals, a new attractive unlimited MVNO, brand warmth, exes getting millions, auto-enroll to the rescue, money avoidance, & saving like BTS.   Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.  Sign up for the weekly HTM newsletter. It’s fun, free, & practical. Join a thriving community of fellow money in the HTM Facebook group. Find the best credit card for you with our new credit card tool! Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.   And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money. Have an awesome weekend!   Best friends out!See omnystudio.com/listener for privacy information.

Nobody likes to be late to a party – the good snacks and drinks are gone, you’ve missed out on some inside jokes, and other friends may have already dipped out! It’s a bummer to feel like you’re out of the loop, because once you finally do learn about something important, like investing for your future, you’re in the disadvantaged position of having to make up for lost time. And I think that’s how a lot of folks feel when they first learn about FIRE, Financial Independence Retire early, “Sure, I’d be able to retire early too if I had heard about this 30 years ago!” But we’re here to tell you that it’s not too late, and our guest Jackie Cummings Koski is living proof that you didn’t have to start investing in your 20s in order to reach FIRE. Having only woken up to handling her finances responsibly at the age of 38, it only took her around a decade to call it quits (earning less than $100k/year), proving that you can achieve financial freedom even as a late comer. Jackie is a CFP, the author of the recently published FIRE for Dummies, and she’s also the co-host of the podcast Catching Up to FI which is going to be our theme for this episode – getting caught up with your investments!   Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.  Sign up for the weekly HTM newsletter. It’s fun, free, & practical. Join a thriving community of fellow money in the HTM Facebook group. Find the best credit card for you with our new credit card tool! Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.   During this episode we enjoyed a Pretty Bird by Gate City Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!   Best friends out!See omnystudio.com/listener for privacy information.

Let’s dive into the week with some fresh listener questions we have lined up for you! And don't just stand on the sidelines- if you have a question you’d like us to answer, toss your voice memo our way. It only takes about 90 seconds to record and you can find a step by step guide over at HowToMoney.com/ask . Regardless of how random or bizarre you might think it is, we want to hear it!   1 - What are some drawbacks of the SAVE Plan for high-income earners? (***note: we didn't mention the federal judge pause to certain aspects of the SAVE Plan as that news broke after we recorded this episode!) 2 - Is tax loss harvesting and sector specific investing enough of a benefit to pay for a financial advisor? 3 - How can I tap my Roth 401k in order to pay off some credit card debt? 4 - Does it make sense to purchase a home if it means paying less than my rent?   Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances: Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.  Sign up for the weekly HTM newsletter. It’s fun, free, & practical. Join a thriving community of fellow money in the HTM Facebook group. Find the best credit card for you with our new credit card tool! Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.   During this episode we enjoyed a classic: Duchesse de Bourgogne by Brouwerij Verhaeghe! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!   Best friends out!See omnystudio.com/listener for privacy information.