How to Money

In this engaging conversation, listener Nick Gangwer shares his inspiring journey from an impoverished upbringing to achieving financial independence. He discusses the pivotal role scholarships played in his education and how saying 'yes' to opportunities fueled his success. Nick dives into his experiences with house hacking and the importance of resilience in overcoming adversity. He emphasizes setting realistic FIRE goals and the balance between ambition and personal well-being, all while encouraging continuous self-education. It's a must-listen for anyone seeking motivation in their financial path!

Listener questions spark lively discussions about financial strategies. Discover the benefits of establishing Roth IRAs for kids, promoting early investing. The hosts tackle the complexities of reverse mortgages, shedding light on their risks. Explore how to effectively manage investments during a sabbatical and the importance of maintaining an emergency fund. Tips on spousal contributions to retirement accounts and choosing the right savings accounts round out valuable advice for navigating personal finance.

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: home warranties, bringing down renovations costs, streaming sports, AMC Stubs, set-jetting to luxury resorts, Carvana making it too easy, car-free neighborhoods, ode to e-bike, AI lies, loneliness: there’s an app for that, Fortnite is back, tariff cease-fire, and financial anxiety.   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.

Callie Cox, part of the Ritholtz Wealth Management team and author of the newsletter OptimistiCallie, offers insightful investment advice for everyday investors. She delves into creating a ‘practical and beautiful’ portfolio amidst economic volatility. The discussion touches on navigating emotional challenges in investing, the impact of current policies, and the significance of understanding personal risk tolerance. Callie also highlights trends for younger investors shaped by technology and the importance of personal finance education in today’s complex market.

Listener questions kick off a lively discussion about the necessity of credit cards in daily life. Creative funding strategies for graduate school are explored, especially for mid-life career shifters. The hosts weigh the pros and cons of switching to Roth contributions with retirement on the horizon. Car insurance debates unfold, focusing on potential savings from dropping full coverage. They also touch on thoughtful ways to manage cash gifts for kids, blending finance with lighthearted anecdotes.

Explore the intriguing world of personal finance with insights on the paper wealth effect and the effectiveness of target date funds. Discover how gold is making a comeback as an investment, potentially outpacing the S&P 500. Laugh along as they dissect recent retail news from Best Buy and Walmart, while discussing the implications of shrinking living spaces. Learn about the risks of fintech banks, the future of Social Security, and the importance of estate planning amidst evolving investment trends. Plus, tips on credit repair and protecting your identity!

Marlo Lyons, a seasoned career coach with over 20 years of experience and author of 'Wanted: A New Career,' shares invaluable advice on navigating today’s uncertain job market. She discusses the emotional and financial impacts of layoffs, emphasizing the need to reassess your worth and explore new opportunities. Marlo highlights the importance of networking and aligning job searches with personal values. Additionally, she offers practical steps for creating effective post-layoff action plans and adapting financial strategies for future success.

Listeners dive into practical financial advice, exploring strategies to escape the paycheck-to-paycheck cycle. They discuss the pros and cons of money market accounts for saving for a home. The conversation expands to student loan forgiveness options and managing debts, including medical expenses. Insights on working with financial coaches for personalized budgeting emerge, along with considerations for selling vehicles to expedite mortgage payments. Lastly, the show highlights the emotional aspects of finances and community support in navigating these challenges.

This week’s financial scoop dives into the world of thrifty gifting, showcasing the charm of secondhand presents. Key insights include the critical importance of building an emergency fund for financial stability. Explore the rise of budget-friendly electric trucks and the shocking costs of airport parking. Plus, uncover smart strategies for saving on travel expenses and the impact of 'buy now, pay later' schemes on young consumers. As always, mindful spending and food waste management take center stage!

The Feds are cracking down on defaulted student loans! According to the new US Education Secretary, it’s time for student borrowers with federal loans to begin making payments. The clock is ticking and May 5th is the date that nearly 2 million borrowers are going to be moved into repayment plans and collections will begin for loans that are in default with over 5 million borrowers at risk of garnished wages. This is a massive shakeup from what borrowers have experienced over the past 5 years, and we’re thankful to be joined by founder and CEO of Student Loan Planner, Travis Hornsby to parse the details. Travis has a massive amount of experience having consulted on several billion dollars of student debt and today we discuss what borrowers should do to avoid wage garnishments, whether PSLF is under fire, some simple steps to take to ensure that borrowers are paying as little as legally possible, and 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 an Only Calling Hours Pull Me Back To These Midwestern Roots by Burial and Hop Butcher (yes, that’s the actual name of that beer)! 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.