Optimal Finance Daily - Financial Independence and Money Advice
Optimal Living Daily | Diania Merriam
Optimal Finance Daily, hosted by Diania Merriam, the innovative mind behind the personal finance conference EconoMe, takes you on an enlightening journey through the world of personal finance. Each episode brings to life the most compelling and practical advice from leading financial bloggers and experts. Diania’s engaging narration and insightful commentary transform complex financial concepts into relatable, actionable insights. Whether it’s budgeting, investing, debt management, or money mindfulness, she covers it all, making financial wisdom accessible to everyone.Gain not just knowledge, but also the motivation to apply it in your daily life. It's not just a source of personal finance tips; it’s a daily companion that guides you towards financial independence and savvy money management, all delivered with Diania's trademark enthusiasm and expertise. By focusing on early retirement, financial independence, and saving money, each episode provides you with the tools needed to achieve your financial goals.This podcast is designed for those passionate about personal finance, early retirement, financial independence, and saving money. It’s your go-to source for practical advice on managing your finances, saving money, and working towards early retirement. Each episode offers actionable steps to foster financial independence and secure your financial future.Listen now, and become an OLD friend--your optimal life awaits...
Episodes
Mentioned books
Jan 9, 2025 • 11min
2999: When It Makes Sense to Refinance Your Mortgage (And When It Doesn’t) by Andy Hill of Marriage Kids And Money
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 2999:Discover when refinancing your mortgage could be a smart financial move and when it might not be worth the effort. This guide demystifies key factors like interest rates, loan terms, and closing costs to help you make informed decisions that align with your financial goals.Read along with the original article(s) here: https://marriagekidsandmoney.com/when-it-makes-sense-to-refinance-your-mortgage-when-it-doesntQuotes to ponder:"Refinancing isn't always about lowering your interest rate; it's about aligning your loan with your long-term financial goals.""The savings from refinancing depend on how long you stay in the home after the refinance closes.""Don't let lower rates fool you into forgetting the upfront costs - it’s the overall picture that counts." Learn more about your ad choices. Visit megaphone.fm/adchoices
Jan 8, 2025 • 11min
2998: The “Minus Your Age” Rule of Thumb for Asset Allocation by Craig Stephens of Retire Before Dad
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 2998:Craig Stephens explores various "minus your age" rules for determining a balanced stock-to-bond portfolio allocation. By adjusting the formula constants (100, 120, 130, or up to 140), investors can align their strategy with personal risk tolerance and investment horizons. With a flexible and data-backed approach, Stephens emphasizes that these rules of thumb serve as guidelines rather than strict laws, highlighting the importance of adjusting allocations over time as circumstances change.Read along with the original article(s) here: https://www.retirebeforedad.com/minus-your-age-rule-asset-allocation/Quotes to ponder:“Personal finance is littered with rules of thumb but devoid of concrete laws.”“Age should influence stock-to-bond allocation, and we should increase bond holdings as we age.”“Even if you reach your target asset allocation, the next day it will change when the market opens.”Episode references:The Little Book of Common Sense Investing by Jack Bogle: https://www.amazon.com/dp/0470102101Vanguard Research: https://investor.vanguard.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Jan 7, 2025 • 9min
2997: How Do You Balance Productivity and Creativity? by Tyler Tervooren of Riskology on Choosing Happiness
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 2997:Tyler Tervooren explores the hidden stress that comes with focusing on productivity and hourly earnings, revealing how it can unintentionally bleed into every aspect of life, even leisure. He emphasizes the need to prioritize creative downtime and personal moments to truly enhance productivity and happiness, suggesting strategies to balance efficiency with fulfillment.Read along with the original article(s) here: https://www.riskology.co/productivity-vs-creativity/Quotes to ponder:"I was falling into a subconscious trap: putting a dollar value on every hour—even if those hours shouldn’t be compared.""Will a painter create their best work doing nothing but mastering brush strokes, or do they need to spend time thinking about the purpose behind the strokes too?""Stepping back and looking at your work as a whole drives creativity. It helps you get out of your routine for a moment and look at the bigger picture." Learn more about your ad choices. Visit megaphone.fm/adchoices
Jan 6, 2025 • 12min
2996: [Part 2] Passive Income and Other Money Myths by Leif Dahleen of Physician on Fire on Intentional Spending
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 2996:Dr. Leif Dahleen debunks common financial misconceptions like "free" travel with credit card points, the necessity of budgeting, and the idea that everyone needs a side hustle. He explains how credit card rewards aren’t truly free and challenges the notion that earning more is always better than spending less, especially when taxes are factored in. His insights encourage intentional spending and a realistic approach to personal finance.Read along with the original article(s) here: https://www.physicianonfire.com/money-myths/Quotes to ponder:“You might be inclined to consider these flights as ‘free travel,’ but the truth is that you could have $500 cash in your pocket instead.”“A dollar saved is better than a dollar earned. Every $1.00 that you don’t spend is about $1.60 that you don’t have to earn.”“Side gigs can be great for non-financial reasons but a main gig ought to be enough to support you and your family financially.”Episode references:YNAB (You Need a Budget): https://www.youneedabudget.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Jan 5, 2025 • 12min
2995: [Part 1] Passive Income and Other Money Myths by Leif Dahleen of Physician on Fire on Side Hustles
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 2995:Dr. Leif Dahleen challenges the concept of passive income, illustrating how many success stories labeled as "passive" are far from it. From real estate to blogging, he highlights the substantial effort often hidden behind these narratives, debunking myths around dividend investing, side hustles, and more. This eye-opening critique urges readers to rethink popular financial advice and to focus on realistic financial planning.Read along with the original article(s) here: https://www.physicianonfire.com/money-myths/Quotes to ponder:"There is no shortcut to success. I worked many early mornings and late nights on my side hustles, especially early on.""What she’s earning is active income. Blogging is work. It’s flexible and fun work, but I doubt there were many weeks where I didn’t spend at least 20 hours doing something.""Yes, it can be profitable, and some of the work can be outsourced, but it’s way too much work for the word 'passive' to be anywhere near it."Episode references:NIIT Tax Information: https://www.irs.gov Learn more about your ad choices. Visit megaphone.fm/adchoices
Jan 5, 2025 • 11min
2994: How To Declutter Without Feeling Wasteful: Is Decluttering a Waste of Money? By Antonia Collins
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 2994:Antonia Collins explores the emotional and practical challenges of decluttering, particularly the guilt of wastefulness. She offers actionable strategies like donating, selling, and changing your mindset to make decluttering a positive and liberating experience. This article inspires readers to embrace simplicity while letting go of regret for past decisions.Read along with the original article(s) here: https://balancethroughsimplicity.com/how-to-declutter-without-feeling-wasteful-is-decluttering-a-waste-of-money/Quotes to ponder:"The waste comes when you purchase an item unwisely. Getting rid of something unworn for years doesn’t waste money less than buying it in the first place.""Shift your thoughts from a negative mindset and replace it with positive hope for the future and what a clutter-free home will give you instead.""Be kind to yourself, take power over your stuff instead of letting your stuff hold power over you."Episode references:You Need a Budget (YNAB): https://www.youneedabudget.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Jan 4, 2025 • 11min
2993: 8 Judgment-Free Ways to Change Your Shopping Habits by Courtney Carver of Be More With Less
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 2993:Courtney Carver offers a compassionate guide to breaking free from impulsive shopping patterns. She shares eight practical, judgment-free strategies to align your spending with your values, simplify your life, and foster intentional habits that nurture both your wallet and your well-being.Read along with the original article(s) here: https://bemorewithless.com/shopping-habits/Quotes to ponder:"Instead of finding gratification in owning, find it in appreciation for the item.""You’ve already paid enough with your money, time, attention, energy, and emotions. You don’t have to continue paying with guilt.""Simply becoming more aware of how you spend and why you buy will allow you to shift your shopping habits with more ease." Learn more about your ad choices. Visit megaphone.fm/adchoices
Jan 3, 2025 • 11min
2992: Sensationalizing Risk by Dave of Accidental Fire on A Rational Approach to Financial Independence
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 2992:Dave of AccidentalFIRE.com explores how sensationalized media and misplaced fears can lead to poor decision-making, particularly regarding child safety and financial risks. By comparing perceived versus actual threats, he emphasizes the importance of focusing on long-term risks and cultivating a rational approach to financial independence.Read along with the original article(s) here: https://accidentalfire.com/2017/12/19/sensationalizing-risk/Quotes to ponder:"Sure, in some cases knowledge can perhaps prevent injury or even death, but don’t fool yourself into thinking you can eliminate risk from your child’s life.""Most people seem to focus on the possible short-term threats to their financial security, and ignore the longer term ones.""To stay on track financially, you should assess the likelihood of a particular risk as compared to others especially with the timelines involved and act accordingly."Episode references:The Science of Fear: Why We Fear the Things We Shouldn't--and Put Ourselves in Greater Danger: https://www.amazon.com/Science-Fear-Shouldnt-Ourselves-Greater/dp/0452295467 Learn more about your ad choices. Visit megaphone.fm/adchoices
Jan 2, 2025 • 9min
2991: The Tale of Bad Car Bill by Mr. 1500 of 1500 Days on Frugality and Resisting Lifestyle Inflation
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 2991:Mr. 1500's story of "Bad Car Bill" highlights the power of frugality and resisting lifestyle inflation. Bill’s modest choices driving a clunker, packing lunches, and avoiding flashy expenses allowed him to quietly accumulate wealth while peers squandered theirs. This thought-provoking tale challenges us to reconsider the allure of materialism and embrace financial wisdom.Read along with the original article(s) here: https://www.1500days.com/the-tale-of-bad-car-bill/Quotes to ponder:"The consultants were a fascinating bunch to watch. They had no trouble finding ways to blow all of their new wealth very quickly.""Bad Car Bill lived the frugal life, saving and investing his money. Same old clothes, same old car and same old lunch in a paper sack from wherever home was.""Every once in a while, I think back on my days at that job, sitting on the patio at work eating lunch, I like to think he was laughing on the inside at the rest of them."Episode references:Mr. Money Mustache Blog: https://www.mrmoneymustache.comThe Millionaire Next Door: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474 Learn more about your ad choices. Visit megaphone.fm/adchoices
Jan 1, 2025 • 10min
2990: Reject The Everyone Has Debt Mentality by Paula Pant of Afford Anything on Long-Term Financial Health
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 2990:Paula Pant challenges the "everyone has debt" mentality, urging readers to focus on whether debt is beneficial rather than normal. By highlighting the opportunity cost of debt and the importance of intentional financial choices, she advocates rejecting societal norms in favor of long-term financial health.Read along with the original article(s) here: https://affordanything.com/reject-the-everyone-has-debt-mentality/Quotes to ponder:"Everybody has car loans, everyone has credit card debt, everyone has student loans, but it wasn’t until I added all these balances up that I knew we had a problem.""This mentality, the 'everyone has debt' mentality, is dangerous.""Reject the normalization of debt: focus on making good choices, not common ones."Episode references:Clark Howard's Money Blog: https://clark.com Learn more about your ad choices. Visit megaphone.fm/adchoices
