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
Sep 28, 2024 • 10min
2881: 3 Times You Should Avoid Using Your Debit Card by Vekevia Tillman-Jones with Financial Finesse
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 2881:Vekevia Tillman-Jones outlines three situations where using a debit card can backfire, leading to financial headaches like overdraft fees and increased vulnerability to fraud. She offers practical alternatives to help you manage these risks while still sticking to a cash-based approach.Read along with the original article(s) here: https://www.financialfinesse.com/2018/02/20/3-times-you-should-avoid-using-your-debit-card/Quotes to ponder:"Trying to spend those held dollars before the hotel releases it could lead to an overdraft in your account, even though the hold eventually goes away.""Sometimes it seems like the internet is just one big hackathon with thieves stealing your info no matter how hard you work to protect it.""Credit card companies are also much quicker with crediting your account back to make you whole from unauthorized transactions." Learn more about your ad choices. Visit megaphone.fm/adchoices
Sep 27, 2024 • 13min
2880: Bumpy Road in Retirement? Learn How a Reverse Mortgage Can Be Your Spare Tire by Steve Chen of New Retirement
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 2880:Steve Chen explores how reverse mortgages can serve as a financial "spare tire" for retirees facing unexpected challenges. By tapping into home equity, retirees can maintain their lifestyle during downturns or emergencies, though it’s crucial to understand the complexities and potential risks before making this significant decision.Read along with the original article(s) here: https://www.newretirement.com/retirement/reverse-mortgage-as-back-up-plan/Quotes to ponder:"A reverse mortgage allows homeowners aged 62 and older to convert a portion of their home equity into funds that they may use at their own discretion.""For many retirees, their home is a valuable source of net worth.""The HECM line of credit has a growth feature, which means that the unused loan balance grows over time."Episode references:National Reverse Mortgage Lenders Association: https://www.nrmlaonline.org/The Reality of the Retirement Crisis: https://www.americanprogress.org/article/the-reality-of-the-retirement-crisis/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Sep 26, 2024 • 14min
2879: [Part 2] How to Rebuild your Credit (Using Credit Cards WISELY) by Ramit Sethi on 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 2879:Ramit Sethi shares actionable strategies to rebuild your credit, emphasizing the importance of negotiating a lower APR, maintaining long-term credit card accounts, and responsibly increasing your credit limit. He also provides guidance on selecting the right credit card, especially for those starting with bad credit or no credit history, to help you progress towards better financial health.Read along with the original article(s) here: https://www.iwillteachyoutoberich.com/blog/credit-cards-to-rebuild-credit/Quotes to ponder:"To avoid having your account shut down, set up an automatic payment on any card that is not your primary card.""Lower is preferred because lenders don’t want you regularly spending all the money you have available through credit.""Fees are only going to slow you down at this stage."Episode references:I Will Teach You to Be Rich by Ramit Sethi: https://www.amazon.com/Will-Teach-You-Rich-Second/dp/1523505745 Learn more about your ad choices. Visit megaphone.fm/adchoices
Sep 25, 2024 • 15min
2878: [Part 1] How to Rebuild your Credit (Using Credit Cards WISELY) by Ramit Sethi on Financial Planning
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 2878:Ramit Sethi breaks down the key strategies to rebuild your credit by leveraging credit cards responsibly. He emphasizes avoiding impulsive decisions like accepting unsolicited credit card offers, choosing the right card for your needs, and the critical importance of paying your bills on time. With practical advice, Sethi highlights how to maximize rewards and minimize fees to improve your credit score and overall financial health.Read along with the original article(s) here: https://www.iwillteachyoutoberich.com/blog/credit-cards-to-rebuild-credit/Quotes to ponder:"Taking a credit card offer you get in the mail is like marrying the first person who touches your arm.""If you can avoid the unreasonable fees and tricks, credit cards offer exceptional benefits.""The single most important thing you can do to improve your credit is to pay your bills on time."Episode references:Bankrate: https://www.bankrate.comFair Isaac Corporation: https://www.fico.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Sep 24, 2024 • 11min
2877: 6 Financial Planning Tips for Single Parents by Riya with The Budget Mom on Money Habits
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 2877:Navigating financial planning as a single parent can be daunting, but Riya from TheBudgetMom.com offers essential strategies to ensure financial stability for yourself and your children. From securing life insurance to preparing for retirement, these tips empower single parents to budget wisely, protect their families, and plan for a secure future.Read along with the original article(s) here: https://www.thebudgetmom.com/6-financial-planning-tips-for-single-parents/Quotes to ponder:"Prioritizing retirement over college is critical if you do not have money available to allocate to both.""By planning for these everyday expenses, you can avoid having to consider them as stressful, unexpected expenses.""A rainy-day fund provides you with the financial plan you need." Learn more about your ad choices. Visit megaphone.fm/adchoices
Sep 23, 2024 • 13min
2876: Life Without the Constraints of Time and Money by Craig Stephens of RetireBeforeDad on 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 2876:Craig Stephens reflects on the freedom of life without the constraints of time and money, drawing from his own experiences of traveling the world in his 20s and navigating adulthood responsibilities. He contrasts the carefree nature of childhood and the deliberate sacrifices made as an adult to achieve future freedom, inspiring a thoughtful approach to balancing life's pleasures and responsibilities.Read along with the original article(s) here: https://www.retirebeforedad.com/life-without-constraints-time-money/Quotes to ponder:"With a few thousand dollars in the bank, I was free to travel without the constraints of time and money.""I had all the time and money I needed to do exactly what I wanted to do every single day.""We choose this lifestyle knowing its costs and constraints." Learn more about your ad choices. Visit megaphone.fm/adchoices
Sep 22, 2024 • 12min
2875: Should You Max Out Your 401(k) Earlier in the Year? by Nick Maggiulli of Of Dollars and Data on Retirement Investing
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 2875:Nick Maggiulli explores whether maxing out your 401(k) contributions earlier in the year provides a significant financial advantage. While maxing early can offer a slight benefit due to market growth, the impact is modest unless done consistently over many years. The feasibility of this strategy depends on income level, and the importance of checking for employer matching provisions cannot be overstated.Read along with the original article(s) here: https://ofdollarsanddata.com/max-out-401k-early/Quotes to ponder:"Maxing out your 401(k) earlier in the year can make a bigger difference if you do it for multiple years in a row.""If you are someone who needs every extra dollar you can get, then maxing early should help.""The benefit of doing so isn’t worth the mental cost." Learn more about your ad choices. Visit megaphone.fm/adchoices
Sep 22, 2024 • 11min
2874: Life Balance Disruptors and Protectors: How to Find Better Life Balance and Improve Wellbeing by Rachael Kable
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 2874:Rachael Kable challenges the traditional concept of life balance, suggesting instead the importance of feeling balanced. She shares practical tips on recognizing personal life balance disruptors, like stress and social media, and emphasizes the role of balance protectors such as sleep and self-care. By identifying these elements and adjusting our actions, we can cultivate a more satisfying and well-rounded life.Read along with the original article(s) here: https://www.rachaelkable.com/blog/life-balance-disruptors-and-protectorsQuotes to ponder:"I don’t actually believe in life balance. However, I do believe in feeling balanced.""Awareness of your balance disruptors is great, however, you can also consciously choose to minimize the impact of them.""It’s important for me to engage in good self-care as much as I can to maintain a sense of balance!" Learn more about your ad choices. Visit megaphone.fm/adchoices
Sep 21, 2024 • 13min
2873: Simple Answers to 7 Common Debt Questions by Chelsea of Smart Money Mamas on Saving 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 2873:Chelsea from SmartMoneyMamas.com dispels common myths and provides clear answers to seven frequently asked questions about managing debt. She emphasizes the importance of understanding credit scores, balancing debt repayment with investments, and using credit cards responsibly. This practical guide helps you navigate financial decisions with confidence and clarity.Read along with the original article(s) here: https://smartmoneymamas.com/simple-answers-to-7-common-debt-questions/Quotes to ponder:"A high credit score does not necessarily mean that you are financially secure, nor does a low credit score mean that you are in financial trouble.""You never want to pay high interest rates to keep the option for low-interest rate debt. Plus, you don’t actually need to!""My rule of thumb is to first secure a decent emergency fund, then pay down high-interest (+9%) or variable rate debt, and then make sure you are putting away at least 10% for retirement."Episode references:Soldier’s Angels: https://soldiersangels.orgVantageScore Solutions: https://vantagescore.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Sep 20, 2024 • 10min
2872: I Lost My First Home to Foreclosure, Then Bought my Next Home in Cash! by Tiffany Aliche of The Budgetnista
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 2872:Tiffany Aliche shares her inspiring journey from losing her first home to foreclosure to buying her next home in cash. Through disciplined savings, a joint budget, and a strong partnership with her husband, Tiffany demonstrates the power of preparation and strategic financial planning to achieve seemingly impossible goals.Read along with the original article(s) here: https://thebudgetnista.com/lost-first-home-foreclosure-bought-next-home-cash/Quotes to ponder:“Prepare for future dreams before you even know what they are.”“A budget is not constricting; it gives you the freedom to strategically plan for your goals.”“Luck isn’t just about random chance it’s about being ready to act when the right moment comes.” Learn more about your ad choices. Visit megaphone.fm/adchoices
