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
Apr 20, 2024 • 11min
2697: Can’t Stick to a Budget? Here’s the Solution by Jen Hayes on Dave Ramsey's Cash Envelope System
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 2697:Jen Hayes brings to light the modern dilemma of overspending due to the convenience of digital transactions in her article. She introduces Dave Ramsey's cash envelope system as a tactile and visual method to regain control over personal finances. By allocating specific amounts to different spending categories and only using cash, this method forces individuals to become more mindful and intentional with their purchases, ultimately helping them stick to their budgets.Read along with the original article(s) here: https://www.jenhayes.me/cant-stick-to-a-budget-heres-the-solution/Quotes to ponder:"Americans have lost our ability to 'feel' money. Society has made it far too easy for us to spend money on autopilot.""When we can physically see the money being taken away from us, we’re more mindful about the purchases we make.""If you can’t control your money, the lack of it will forever control you."Episode references:How to Budget With the Cash Envelope System By Dave Ramsey: https://www.ramseysolutions.com/budgeting/envelope-system-explained Learn more about your ad choices. Visit megaphone.fm/adchoices
Apr 19, 2024 • 9min
2696: [Part 2] We’re Mortgage Free! Our 10 Steps to Get a $500,000 Paid Off House in 5 Years 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 2696:Andy Hill from MarriageKidsAndMoney.com shares transformative strategies for achieving mortgage freedom in just five years on a $500,000 home. Through a blend of income-increasing tactics, budgeting mastery, and mindful spending, Hill outlines a roadmap to financial liberation that's both inspirational and practical.Read along with the original article(s) here: https://marriagekidsandmoney.com/how-to-pay-off-your-mortgage-early-in-10-not-so-easy-stepsQuotes to ponder:"It’s truly amazing how much STUFF we accumulated in our house that we didn’t need or didn’t bring us joy. Turn the trash into cash, right?""The budget we create together is a 'zero-based budget'. This means that every dollar we have has a job." Learn more about your ad choices. Visit megaphone.fm/adchoices
Apr 18, 2024 • 10min
2695: [Part 1] We’re Mortgage Free! Our 10 Steps to Get a $500,000 Paid Off House in 5 Years 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 number: 2695Andy Hill shares his triumphant journey to financial freedom in "We’re Mortgage Free! Our 10 Steps to Get a $500,000 Paid Off House in 5 Years" on MarriageKidsAndMoney.com. With a combination of strategic planning, family teamwork, and intentional living, Andy and his wife Nicole have not only freed themselves from the burden of a mortgage but have also laid down a legacy of debt-free living for their children, showcasing the power of financial independence and the joy it brings.Read along with the original article(s) here: https://marriagekidsandmoney.com/how-to-pay-off-your-mortgage-early-in-10-not-so-easy-stepsQuotes to ponder:"After years of focus and partnership with my wife Nicole, we’re mortgage-free and thrilled about the future ahead of us.""We were intentional, determined, and ready to do something incredible for our family." Learn more about your ad choices. Visit megaphone.fm/adchoices
Apr 17, 2024 • 10min
2694: How Do I Budget with a Variable Income? by Laura Gariepy of Women Who Money on Personal 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 2694:Laura Gariepy, through her collaboration with WomenWhoMoney.com, offers practical and actionable strategies for individuals dealing with the complexities of budgeting on a variable income. Her guidance illuminates a path toward financial stability by focusing on essential expenses, optimizing savings, and strategic account management, proving that with the right approach, managing fluctuating finances can lead to successful budgeting and peace of mind.Read along with the original article(s) here: https://womenwhomoney.com/budget-variable-income/Quotes to ponder:"Successful use of a budget gets your money working for you so you can attain your financial goals.""Improperly managed variable income can lead to severe financial stress. However, by working through the steps in this article, you can find stability using a budget.""Knowing both your real bottom line or threshold and your preferred bottom line will establish (and maintain) financial priorities." Learn more about your ad choices. Visit megaphone.fm/adchoices
Apr 16, 2024 • 9min
2693: How Do I Get My Spouse To Go Along With My Frugal Plans? By Jacob Lund Fisker on Marriage & 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 2693:Jacob Lund Fisker of EarlyRetirementExtreme.com guides us through the delicate process of aligning your partner with your frugal lifestyle and early retirement dreams. He offers practical tips on leading by example, demonstrating the benefits through your actions, and smartly navigating conversations to inspire a mutual journey toward financial independence.Read along with the original article(s) here: http://earlyretirementextreme.com/how-do-i-get-my-spouse-to-go-along-with-my-frugal-plans.htmlQuotes to ponder:"The first and most important thing is that a person sounds a whole lot smarter and more intelligent when you agree with what the person is saying.""Most people (and especially children) will follow your example rather than your suggestions.""If you want your spouse to adopt some change, another thing to try is to find something they are familiar with."Episode references:Tumbleweed Houses: https://www.tumbleweedhouses.com/The concept of Freecycling: https://www.freecycle.org/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Apr 15, 2024 • 11min
2692: Why My 77 Percent Savings Rate Means Nothing by Paula Pant of Afford Anything on FIRE & Early 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 2692:Paula Pant from AffordAnything.com shares her journey from celebrating a 77% savings rate to realizing its limited value in achieving financial freedom. Through a detailed analysis, she illustrates the importance of distinguishing between savings for deferred spending and investing for wealth growth, urging readers to focus on investing rates over savings rates for true financial independence.Read along with the original article(s) here: https://affordanything.com/77-savings-rate-means-nothing/Quotes to ponder:"Savings is money that you’re setting aside for the future. Which means that “savings” is deferred spending.""Savings won’t bring you financial freedom. Investing will."“Investing,” on the other hand, allows you to supercharge your net worth." Learn more about your ad choices. Visit megaphone.fm/adchoices
Apr 14, 2024 • 11min
2691: Is It Ever OK To Borrow From Your 401K? by Mark Dennis of Financial Finesse on Retirement 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 2691:Mark Dennis of FinancialFinesse.com sheds light on the complexities of borrowing from your 401(k). He outlines the seductive ease of tapping into retirement savings for immediate financial needs but cautions against the long-term repercussions such actions may have on one's financial health and retirement planning. Dennis meticulously explores the benefits and pitfalls, emphasizing smarter alternatives to safeguard one’s financial future.Read along with the original article(s) here: https://www.financialfinesse.com/2017/10/23/is-it-ever-ok-to-borrow-from-your-401k/Quotes to ponder:"Plundering our retirement piggy banks can be tempting when a financial emergency arises, but this type of short-term fix may have some long-term consequences that are more expensive than we realize.""Once you dip into your retirement stash and use it to relieve some type of financial pain, you can begin to slide down a slippery financial behavior slope.""Bottom line: make sure you have carefully considered all other alternatives before you undo much of the hard work you have already invested in growing your retirement nest egg." Learn more about your ad choices. Visit megaphone.fm/adchoices
Apr 14, 2024 • 9min
2690: Three Vital Reasons To Say “I’m Sorry” In Your Marriage by Dr. Margaret Rutherford on Improving Relationships
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 2690:Dr. Margaret Rutherford's enlightening article sheds light on the profound importance of apologies in strengthening marriages. By navigating through the common pitfalls of a bad apology, Rutherford emphasizes how genuine apologies foster integrity, build trust, and maintain mutual respect between partners, serving as a vital component for a healthy and enduring relationship.Read along with the original article(s) here: https://drmargaretrutherford.com/three-vital-reasons-to-say-im-sorry-in-your-marriage/Quotes to ponder:"Love means you say you’re sorry and you mean it. Sincerely.""Saying you’re sorry means that you recognize your behavior has an impact on those around you.""It’s a gift that reflects your integrity." Learn more about your ad choices. Visit megaphone.fm/adchoices
Apr 13, 2024 • 10min
2689: How We Paid Off $17,000+ in Student Loan Debt in Just 54 Days by Dave Cahill with JackieBeck.com
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 2689:Dave Cahill's transformative journey with JackieBeck.com sheds light on overcoming $17,000 in student loan debt within a mere 54 days. Through extreme frugality and strategic planning, Cahill and his wife turned their financial desperation into liberation, offering valuable insights into the power of dedication and financial freedom.Read along with the original article(s) here: https://www.jackiebeck.com/how-we-paid-off-17000-in-student-loan-debt-in-54-days/Quotes to ponder:"Our methods may not be realistic in your circumstances. But don’t be afraid to bet on yourself and take reasonable risks to achieve debt freedom.""In the darkest moments, our vision for a better future was what kept us moving forward." Learn more about your ad choices. Visit megaphone.fm/adchoices
Apr 12, 2024 • 8min
2688: Resisting Lifestyle Inflation by Lisa Harrison of Mad Money Monster on Hedonic Adaptation
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 2688:Lisa Harrison of MadMoneyMonster.com shares her journey of resisting lifestyle inflation, especially the allure of upgrading her living situation, which many find relatable. Through candid experiences, she underscores the importance of financial prudence, the power of minimalism, and the value of instilling good spending habits to secure a more stable and fulfilling future.Read along with the original article(s) here: https://madmoneymonster.com/2016/02/03/resisting-lifestyle-inflation/Quotes to ponder:"It’s worry that is born out of fear, fear that you can’t comfortably afford to do something.""Committing to minimalism has given us focus and the ability to say NO to unnecessary clutter in our lives.""My emotional, arbitrary indicators of wealth have nothing to do with what we need or what makes the best financial sense." Learn more about your ad choices. Visit megaphone.fm/adchoices
