Optimal Finance Daily - Financial Independence and Money Advice

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.Episode 3012:Jen Hayes breaks down five common money habits that could be keeping you broke. From emotional spending to avoiding financial planning, these behaviors can quietly sabotage your financial health. Learn how to spot these habits and replace them with smarter choices to build long-term financial security.Read along with the original article(s) here: https://www.jenhayes.me/5-terrible-money-habits-keeping-you-broke/Quotes to ponder:"Emotional spending feels good in the moment, but it can wreck your budget in the long run.""Small daily expenses, like coffee runs and impulse buys, add up faster than you think.""Without a plan, money disappears - it’s time to take control and tell it where to go."Join 250K readers (20% of which have hit 7 figures) who are already building a brighter financial future - subscribe now. Sign up at readthejoe.com/subscribe-swap Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.Episode 3011:Julien Saunders challenges us to rethink common expenses, from greeting cards to kitchen gadgets, that drain resources unnecessarily. By examining these habits, he highlights the power of questioning societal norms and embracing creative alternatives to better align spending with personal values and financial goals.Read along with the original article(s) here: https://richandregular.com/5-things-you-should-stop-wasting-money-on/Quotes to ponder:"Do I literally hate greeting cards? Of course not. Well, at least not as much as I hate the excuses some people make for not having enough money to save and invest.""In a world where we can push a button on a screen and actually see someone’s face in real-time, the process of sending greeting cards seems more like a wasteful commitment to clutter and inefficiency than a heartfelt notion.""Whether it’s finally pulling the plug on a stalled career, quitting a cash-draining hobby turned business endeavor, or realizing that we may actually never grow into our home, there are likely better decisions we could all be making with our money."Join 250K readers (20% of which have hit 7 figures) who are already building a brighter financial future - subscribe now. Sign up at readthejoe.com/subscribe-swap Learn more about your ad choices. Visit megaphone.fm/adchoices

Zoe Kim, a minimalism expert focused on emotional well-being, shares her insights on simplifying life. She discusses the challenges of persuading family members to adopt minimalism, highlighting the importance of compassion and understanding family dynamics. Zoe offers practical strategies to inspire a collective embrace of simplicity, emphasizing that minimalism isn’t about deprivation but intention. Her thoughtful perspective reveals how wanting less can lead to greater clarity and emotional fulfillment.

Explore the debate of prepaying your mortgage versus investing in the stock market. Discover the stability of mortgage prepayments contrasted with potential investment risks. Learn how historical performance and personal risk tolerance affect financial choices. The speaker shares their journey to reducing mortgage debt, encouraging listeners to evaluate their financial priorities before making major decisions. Ultimately, it’s about finding harmony between financial security and growth.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.Episode 3008:Sam from Financial Samurai explores the consequences of closing credit cards, sharing personal insights and practical advice to safeguard your credit score and financial health. By understanding key factors like credit history, credit line usage, and account management, you can make informed decisions about whether to keep or close your credit cards.Read along with the original article(s) here: https://www.financialsamurai.com/should-i-close-out-my-credit-cards/Quotes to ponder:"To build a good credit score, you need to prove you can handle credit!""If a credit card doesn’t have an annual fee, I see little reason to close it unless, of course, you think it will tempt you to overspend.""Work on kicking your addictive habits first, before using a credit card."Join 250K readers (20% of which have hit 7 figures) who are already building a brighter financial future - subscribe now. Sign up at readthejoe.com/subscribe-swap Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.Episode 3007:Explore the advantages of setting up a family trust to secure your assets, streamline estate planning, and ensure your legacy is protected. This guide highlights the steps, benefits, and key considerations to help you decide if a family trust aligns with your financial goals.Read along with the original article(s) here: https://www.goodfinancialcents.com/family-trust-benefits-setting-up-trust/Quotes to ponder:"A family trust can offer a combination of asset protection and peace of mind for generations.""Setting up a trust isn't just for the wealthy; it's for anyone who wants their assets managed with care and foresight.""A trust simplifies estate management, making it easier for your loved ones to focus on what truly matters."Join 250K readers (20% of which have hit 7 figures) who are already building a brighter financial future - subscribe now. Sign up at readthejoe.com/subscribe-swap Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.Episode 3006:ESI from ESIMoney.com breaks down the transformative power of investing, the third step in the "Earn, Save, Invest" wealth-building strategy. By focusing on amount, time, and return, investments compound to multiply your net worth over time. With insights into index funds, real estate, and more, this guide simplifies how to grow wealth efficiently.Read along with the original article(s) here: https://esimoney.com/invest-overview-fueling-your-net-worth/Quotes to ponder:"Time is the best way to maximize your investment return because your money starts to make money. And then that money starts making money.""Investing is the step that supercharges your net worth and opens the door to high levels of wealth.""Done well, your net worth will shoot to the moon."Episode references:The Simple Path to Wealth by JL Collins: https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926Join 250K readers (20% of which have hit 7 figures) who are already building a brighter financial future - subscribe now. Sign up at readthejoe.com/subscribe-swap Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.Episode 3005:Chelsea from SmartMoneyMamas.com explains the practical steps to safeguard your budget from unexpected expenses by dividing them into predictable and unpredictable categories. She highlights the importance of building annual budgets, creating sinking funds, and prioritizing an emergency fund to transform financial stress into manageable bumps in the road.Read along with the original article(s) here: https://smartmoneymamas.com/how-to-plan-for-unexpected-expenses/Quotes to ponder:"Building irregular expenses into your budget is one of the pillars of creating a budget that works long-term.""It always seems impossible until it is done.""An emergency fund is your financial life jacket. It keeps you from sinking into debt just because you didn’t budget for something."Episode references:YNAB (You Need a Budget): https://oldpodcast.com/trackQube Money: https://qubemoney.comUniversity of Minnesota Extension on family clothing budgets: https://extension.umn.edu Learn more about your ad choices. Visit megaphone.fm/adchoices

In this discussion, Chris Reining, an expert on investment returns and market volatility, shares insights from his article "Risk Gets the Reward." He illustrates how calculated risk-taking, inspired by Arnold Schwarzenegger's career, can lead to success. Reining emphasizes tailoring investment strategies to one's risk tolerance, balancing safety with potential gains. He highlights the importance of a long-term perspective in navigating market fluctuations and leveraging dips as opportunities for greater rewards.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.Episode 3003:Kelley Long shares practical advice for navigating the complexities of hiring a tax professional. Whether you're a self-employed entrepreneur or have straightforward tax needs, she clarifies the roles of tax preparers, EAs, and CPAs, and offers actionable tips to ensure you find the right expert to save time, money, and stress.Read along with the original article(s) here: https://www.financialfinesse.com/2017/04/26/how-to-find-a-good-tax-preparer/Quotes to ponder:"Pretty much anyone can call themselves a tax preparer, although the IRS has started to regulate that by requiring people who accept payment for preparing taxes to have a PTIN.""If time is money, then the money we pay our accountant to prepare and file our taxes is money well spent.""The sad fact is that there aren’t a lot of CPAs out there that actually want to do income taxes for regular families who just have jobs, kids, a house, and a few charitable donations."Episode references:Illinois CPA Society: https://www.icpas.orgNational Association of Enrolled Agents: https://www.naea.org Learn more about your ad choices. Visit megaphone.fm/adchoices