How to Money

Dive into the world of personal finance insights with discussions on long loan terms and the implications of higher heating bills. Learn about the FTC's efforts to simplify service cancellations for consumers. Explore the rising costs of luxury goods and the allure of tattoos. Understand the challenges of car loans and the impact of AI on real estate, particularly in streamlining home buying. Plus, get practical tips on managing mortgage and utility costs amidst changing economic conditions.

In this engaging discussion, Daniel Crosby, a psychologist and Chief Behavioral Officer at Orion Advisor Solutions, delves into the essence of true wealth beyond finances. He highlights how personal fulfillment, relationships, and experiences define real richness in life. Crosby examines the balance between passion projects and profit, and how societal influences can shape our financial behaviors. He emphasizes the importance of delayed gratification and using wealth to enhance life experiences, ultimately advocating for a more holistic approach to personal finance.

Listener questions guide the discussion on savvy saving strategies, including unique methods like donating plasma for extra cash. The hosts dive into smart investment choices for a $60,000 windfall, weighing the pros and cons of dollar-cost averaging versus lump-sum investing. They also tackle the intricacies of Roth IRA conversions and the accompanying tax implications. Plus, unconventional tips for frugal living are shared, such as thrift shopping and the joys of trying rice lagers. Tune in for tips that blend finance with fun!

This week, the discussion dives into the downside of using debit cards and the tricky arbitration rules consumers face. There's a humorous take on the economics of sports, especially around the Atlanta Braves. The group critiques a new debit card that claims to improve credit scores but raises skepticism instead. Listeners also learn how job changes can mess with retirement savings and the importance of being financially prepared for insurance challenges after natural disasters. Tune in for some wise financial insights!

Scott Hodge, a tax policy expert with over 35 years of experience, dives into how taxes shape our daily lives in surprising ways. He highlights how tax policies influence everything from consumer choices to personal financial decisions. Discover the unintended consequences of tax legislation, the allure of alternative tax models like Estonia's, and the importance of reforming the U.S. tax system. Hodge reframes taxes as a powerful, albeit unseen, force guiding behavior and decision-making, turning a mundane topic into a must-listen discussion.

This podcast dives into listener questions about investing for a newborn, using a HELOC for down payments, and the tax implications of various financial moves. They explore the balance between stock investments and safer options while discussing the merits of house hacking. Tips for maximizing home repairs using credit cards are also covered. Along the way, the hosts share humorous Halloween anecdotes, blending fun with practical financial advice for both seasoned investors and those just starting out.

This week delves into crucial financial topics, like strategies for booking holiday travel amid fluctuating gas prices. Listeners learn about the impacts of labor strikes and the importance of disaster relief support. The discussion also highlights student loan shifts and the risks tied to modern trading apps like Robinhood. Additionally, there are insights on effective financial preparedness, passport renewal tips, and a critique of current economic policies, encouraging a thoughtful approach to managing personal finances.

Ok, here us out: retirement is a topic that we talk about all the time here at How To Money, but simultaneously we probably don’t talk about it nearly enough! How is that possible you might ask? Well, we are oftentimes discussing retirement through the lens of investing – spending less and cutting costs so you can invest more… for retirement, maxing out your Roth IRA… for retirement! We’re typically approaching retirement from our personal perspective and it’s no surprise to anyone that we’re not actually retired. We still *think* we’re young bucks even though we’re arguably in mid-life, but because of that we might not cover the nuts and bolts that go into actually retiring, as often as maybe we should. We definitely don’t do it as well as Christine Benz which is just one of the reasons we’re pumped to have her join us today. Christine is a long-time contributor to Morningstar, the fantastic investment research site that we often reference here on the pod. Specifically, she’s the director of personal finance for Morningstar as well as author of the new book, “How to Retire: 20 lessons for a happy, successful, and wealthy retirement.” We get into Chrinstine’s investing shortcomings, how the Morningstar rating system has evolved over the years, how the definition of retirement is also evolving, the value of work, the impact of retirement on relationships, 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. Don’t be cheap and forego getting a life insurance policy. Compare rates with Policygenius.   During this episode we enjoyed a Strangest of Places by Pure Project! 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 pros and cons of combining our finances as newlyweds? 2 - How much more should I be willing to pay for health insurance if it means I can contribute to an HSA? 3 - Should I consider extra money over the limit in my 401k as an emergency fund or as retirement savings? 4 - I purchased an expensive car during the pandemic at 5%. I’m currently paying extra on it but should I unload it completely?   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 Head Full of Dynomite by Fremont 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.

We have a very special episode for you this Friday as we were interviewed by our friend Jordan Grumet for his podcast Earn & Invest! Jordan is a friend of ours and we’ve had extensive conversations about personal finances but we always end up finding ourselves talking about life fulfillment and ultimate happiness. And that’s exactly what happened during this episode with Jordan as he asked us about our own personal spending, how we’ve seen our expenses swell, whether we should love or leave lifestyle creep, and plenty more during today’s episode!   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.