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
Jul 31, 2024 • 10min
2814: How to Save Money and Still Invest by Christine Sato with JenHayes on Financial 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 2814:Christine Sato, in collaboration with JenHayes.Me, explains how to save money and invest simultaneously, even on a low income. She outlines strategies for building savings for short-term needs and investing for long-term goals, emphasizing the importance of automatic transfers, taking advantage of employer 401(k) matches, and starting early to maximize compound interest.Read along with the original article(s) here: https://www.jenhayes.me//save-money-still-invest/Quotes to ponder:"Saving usually means putting your money into a savings account in a bank for easy access.""The stock market, on the other hand, while unpredictable in the short-term, generally does better than cash over long periods of time and generates greater returns on your money.""Putting aside $25 a week in an IRA, assuming an average return on your investment dollars of 8 percent over 40 years, will result in investments worth about $350,000 when it’s time to retire."Episode references:Investopedia - Roth IRA: https://www.investopedia.com/terms/r/rothira.asp Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 30, 2024 • 10min
2813: Debt Freedom Is Great But Payment Freedom Is Better by Chris 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 2813:Chris from KeepThrifty.com shares the transformative journey from debt freedom to the more profound concept of payment freedom. He explains how eliminating monthly expenses entirely, rather than merely paying off debt, leads to true financial independence and a liberating sense of freedom.Read along with the original article(s) here: https://www.keepthrifty.com/payment-freedom/Quotes to ponder:"Payment Freedom is the freedom you feel from the complete elimination of a line-item in your budget.""We’d imagined the world of debt freedom to be a magical carefree place. So, we waited for the feeling of joy, excitement, relief, and freedom to come. Only, that feeling never came.""The thing about our debt freedom that we had been so excited about wasn’t about the end of paying interest. It was about the end of paying for housing."Episode references:The Power of Now: https://www.amazon.com/Power-Now-Guide-Spiritual-Enlightenment/dp/1577314808 Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 29, 2024 • 11min
2812: One Big Expensive Investing Mistake to Avoid by Jay Delaworth on Building Wealth
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 2812:Jay Delaworth highlights the critical mistake of not having an exit strategy in investing. He emphasizes that without a plan for when to sell, investors risk making emotional decisions that can significantly damage their financial future. Understanding and establishing clear rules for selling can prevent costly errors and ensure more stable investment outcomes.Read along with the original article(s) here: https://moneyminiblog.com/investing/expensive-mistakeQuotes to ponder:"Just because your friend, colleague or favorite uncle is making an investment, doesn’t mean it’s a good one!""Without a logical and well-thought out exit strategy, you open yourself up to huge risk.""In my experience, the biggest losses come from betting on a specific stock or company and riding it all the way to zero." Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 28, 2024 • 10min
2811: Avoid These 3 Pitfalls of Debt Consolidation by Miranda Marquit of Good Financial Cents
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 2811:Miranda Marquit of GoodFinancialCents.com outlines the critical mistakes to avoid when consolidating debt, such as misusing newly available credit and not changing spending habits. Her advice helps ensure debt consolidation serves as a pathway to financial stability rather than a setback.Read along with the original article(s) here: https://www.goodfinancialcents.com/avoid-pitfalls-of-debt-consolidation/Quotes to ponder:"Debt isn’t the problem; it’s a symptom of your spending problem.""Don’t use your freed-up lines of credit unless you are done paying off your debt consolidation loan, and your spending is under control.""Missteps, such as falling back into old spending habits or mistaking settlement for consolidation, can exacerbate financial woes." Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 28, 2024 • 11min
2810: How to Create (And Stick With) a Weekly Schedule for Your Family by Kalen Bruce on Productivity
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 2810:Kalen Bruce of Freedom Sprout.com shares practical tips for creating and maintaining a weekly family schedule. By tracking time, planning each minute, and using a family calendar, you can reduce stress and foster a structured yet flexible environment, especially crucial for families with unpredictable schedules like those in the military.Read along with the original article(s) here: https://freedomsprout.com/weekly-family-schedule/Quotes to ponder:"It’s how we keep structure in such an unpredictable life that the military cultivates.""Whatever you do, don’t let your schedule dictate your life. Dictate your schedule.""Getting started is always the hardest part. You don’t have to get it right, just get it started."Episode references:Outschool: https://outschool.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 27, 2024 • 9min
2809: [Part 2] How My Perspective of the Fire Movement Changed After Turning 40 by Lisa Harrison of Mad Money Monster
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 2809:Lisa Harrison shares how turning 40 has shifted her perspective on the FIRE movement. She highlights the importance of balancing financial independence with enjoying life now, emphasizing the need for quality health care and the benefits of maintaining a job for financial security and personal fulfillment.Read along with the original article(s) here: https://madmoneymonster.com/2019/06/17/how-my-perspective-of-the-fire-movement-changed-after-turning-40/Quotes to ponder:"Even though my corporate job provides 25k toward fertility treatment, it doesn’t cover donor eggs. Wow, I never incorporated that expense into my FIRE plans.""In light of accepting that my health will likely not get better with age, having high-quality health care has suddenly become a MAJOR deal for me and my family.""My perspective after turning 40 is that I want to enjoy my life now and make sure I have plenty for later." Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 26, 2024 • 10min
2808: [Part 1] How My Perspective of the Fire Movement Changed After Turning 40 by Lisa Harrison of Mad Money Monster
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 2808:Lisa Harrison of MadMoneyMonster.com shares how turning 40 has reshaped her views on the FIRE movement. Emphasizing family, health, and enjoying the moment, she explains why the sacrifices required for early retirement no longer appeal to her, highlighting a shift from her youthful optimism to a more balanced, realistic approach to life.Read along with the original article(s) here: https://madmoneymonster.com/2019/06/17/how-my-perspective-of-the-fire-movement-changed-after-turning-40/Quotes to ponder:"After hitting 40, I started to realize there are 3 categories topping the list of important things in my life: Family, My health, and Enjoying the moment.""Although I’ve always been and thought of myself as healthy as a horse, I realized that I was aging, despite my identification with the younger crowd.""It took me more time to graduate from college than normal because I went part-time."Episode references:The Simple Path to Wealth: https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926 Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 25, 2024 • 11min
2807: 6 Things You Should ALWAYS Buy Secondhand by Amanda Brownlow of Hello Brownlow on Frugality
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 2807:Amanda Brownlow of HelloBrownlow.com reveals six essential items to always buy secondhand, highlighting significant savings and environmental benefits. From baby gear to home decor, Amanda shares practical tips for finding high-quality, affordable secondhand goods.Read along with the original article(s) here: https://hellobrownlow.com/2019/03/05/6-things-you-should-always-buy-secondhand/Quotes to ponder:"Why waste all that money and resources on purchasing something new, when you can buy it used?""Stores that specialize in re-selling games and movies make sure that the discs are in great condition.""Keep in mind that a DIY project can cost very little if the decor item you like is almost what you want it to be!"Episode references:Poshmark: https://poshmark.comeBay: https://www.ebay.com thredUp: https://www.thredup.comBarnes and Noble: https://www.barnesandnoble.com Vintage Stock: https://www.vintagestock.com Chegg: https://www.chegg.com Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 24, 2024 • 12min
2806: Financial Success Comes from Within by Harlan Landes with Get Rich Slowly on Personal Finance 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 2806:Harlan Landes explains that true financial success originates from within, emphasizing the importance of an internal locus of control. By adopting this mindset, individuals can better plan for long-term goals, accept responsibility for their actions, and achieve their financial aspirations.Read along with the original article(s) here: https://www.getrichslowly.org/financial-success-comes-from-within/Quotes to ponder:"It took some time for me to understand that I had more control over my situations than I was allowing myself to believe.""Success, defined by a personal goal, financial or otherwise, can be easier achieved by shifting to an internal locus of control.""Rather than blaming your financial situation on bad luck, a broken system, or your parents’ negative influence, determine which choices you made or didn’t make brought you to where you are, and make some new ones."Episode references:Mindset: The New Psychology of Success: https://www.amazon.com/Mindset-Psychology-Carol-S-Dweck/dp/0345472322The Millionaire Next Door: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474 Learn more about your ad choices. Visit megaphone.fm/adchoices
Jul 23, 2024 • 12min
2805: If You Work Your Whole Life, You're Doing It Wrong by Chris Reining 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 2805:Chris Reining shares a powerful reflection on financial freedom and purposeful living. He discusses how shifting from a mindset of earning to consume to earning to invest in what truly matters can transform your life. Reining emphasizes designing a life filled with meaningful experiences rather than material possessions, inspired by personal anecdotes and insights from thought leaders like Bronnie Ware and Ryan Holiday.Read along with the original article(s) here: https://chrisreining.com/3-retirement-options/Quotes to ponder:"I wish I’d had the courage to live a life true to myself, not the life others expect of me.""It’s easy to slip into a lifestyle where we work to earn, and earn to consume.""You can design your life to make sure you have the freedom to pursue what’s important to you."Episode references:Bronnie Ware's Regrets of the Dying: https://bronnieware.com/regrets-of-the-dyingThe 4-Hour Workweek: https://www.amazon.com/4-Hour-Workweek-Escape-Live-Anywhere/dp/0307465357 Learn more about your ad choices. Visit megaphone.fm/adchoices
