Episodes
Much of our financial life often revolves around one number- our credit score. It’s really important that your score is in a healthy range as it impacts loan terms, insurance rates, and even job offers. Luckily we all have free access to our credit scores, credit reports, and the steps we need to take to ensure that our credit score is in great shape. We’re sharing that information with you in this episode. Depending on your history, it could be a long road of rebuilding your credit, but...
Published 08/14/19
This week on the pod we’re answering your questions! 1 - Should I continue investing with an impending market correction? 2 - What should I do with the money I’m setting aside for new baby expenses? 3 - After some hail damage, should I fix my car or keep the insurance money? 4 - How does compounding work for investments like stocks? 5 - Do I have to pay quarterly estimates or should I invest that money instead?And if you have a question for us, we’d love for you to submit your own via...
Published 08/12/19
What do you do for fun? This might seem like a trivial question, but discovering your hobbies can have some pretty large impacts on your financial health and overall well-being. Of course we want to ensure that we’re pursuing frugal hobbies and that we’re being intentional by curating our interests. The mindless pursuit of expensive hobbies is never a good thing- but reaching the end of our working career and finding ourselves bored and restless sounds like a nightmare scenario! We live in a...
Published 08/07/19
This episode is chock full of personal finance gold. Sure, we spend a good amount of time talking about negotiating, but we also cover intentional spending, the psychology behind being smart with your money, and rethinking the money ‘truths’ we’ve grown up with. We are stoked to have Ramit Sethi join us as we cover all those topics and more, which can also be found in his book ‘I Will Teach You to be Rich’ (and stick around to the end as we’re giving away a few copies as well)! Ramit has...
Published 08/05/19
If you have a difficult time setting aside money for the future and saving towards retirement, then identifying why it is that you’re saving might be what you’re missing. Studies have even shown that we will save more money for retirement when we’re able to see an older version of ourselves- so maybe trying out FaceApp is a good thing after all! Even though we all might have different motivators, it’s healthy to remind ourselves of why it is so important to save and invest. And actually...
Published 07/31/19
This week on the pod we’re answering your questions! 1 - Is it OK to buy a new car if I’m going to keep it for 15 years? 2 - What receipts should I keep for tax purposes on the portion of my duplex I’m renting? 3 - What were y’all taught and what should I be teaching my kid about money? 4 - As a higher earner, is there any tax benefit to contributing to my IRA when I’m already covered by a retirement plan at work? 5 - Where should I consider opening a small business account for my new...
Published 07/29/19
We should all probably watch a little less TV than we do, but that doesn’t mean we shouldn’t be getting a deal in the process! The television bundle is the priciest way to watch and you should consider a free or streaming option because there are now so many choices. And you don’t have to sacrifice and give up a particular show or live sports if that’s your thing- there’s a really good chance you can find a video service, providing the content you’re looking for, that will be substantially...
Published 07/24/19
The leading cause of bankruptcy in America is the inability to pay medical bills- an estimated half a million people file for this reason every year! Almost no one is immune to the rising cost of healthcare, and fellow podcaster Dan Weissmann is here to commiserate. Dan’s podcast, An Arm and a Leg, is part journalism part personal narrative as he dives into real life experiences of Americans with their health coverage. Healthcare is definitely confusing, and based on the fact that our country...
Published 07/22/19
Health Savings Accounts aren’t just for paying your medical bills- when used properly, they are pure retirement gold! If you have a qualifying healthcare plan and aren’t taking advantage of an HSA, you’re missing out on massive amounts of money that you could be socking away. This is because an HSA is the most tax advantaged retirement account that exists, maybe even dethroning the Roth IRA as our favorite retirement account! Have a listen as to why we think you should seriously consider...
Published 07/17/19
This week on the pod we’re answering your questions! 1 - Should I keep my car payment around in order to boost my credit score? 2 - When does it make sense to replace old light bulbs with new LEDs? 3 - Is it worth disputing my property tax bill? 4 - How can I negotiate a lower APR on my credit cards? 5 - I’m considering joining Lending Club as an alternative way to invest my money- is this a good idea?And if you have a question for us, we’d love for you to submit your own via...
Published 07/15/19
Whether you’re planning to score a deal on Amazon Prime day or not, chances are you do a good bit of purchasing online. Obviously we love getting a great deal and the convenience of online shopping is unmatched, but what other considerations should be taken into account? Just because we’re getting a deal now, does that mean we’re spending less money in the long run? During this episode we cover when shopping at a local brick and mortar is better, some serious downsides of shopping online, and...
Published 07/10/19
Getting your significant other on-board when it comes to personal finance goals may be no small task- which is just one of the reasons we’re excited to have Andy Hill join us for this episode. Andy and his wife started their life together 50k in debt. They put in the hard work of confronting their individual unhealthy financial patterns, set some serious goals, and in just 4 years were completely debt free (including a 195k mortgage!) and now 8 years later have grown their net worth to over...
Published 07/08/19
Many of us have our own personalized, specific goals when it comes to our money, so it’s no surprise that we also have many different views of what financial independence means to each of us. Since tomorrow is the 4th of July, we wanted to take a moment and reflect on how our views of financial independence have changed over the years. We also posted this question in the How To Money Facebook group, and we look forward to digging into and sharing your wisdom regarding what financial freedom...
Published 07/03/19
This week on the pod we’re answering your questions! 1 - What does it mean to put index funds in my Roth IRA? 2 - Should I invest in Fundrise and REITs in order to learn more about real estate investing? 3 - Should we consider getting a home warranty? 4 - How will my credit score be impacted if I pay off a debt in collections? 5 - Am I crazy to consider buying a new $65,000 electric truck?And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/askDuring this...
Published 07/01/19
Understanding what our time is worth allows us to make more informed decisions regarding our time and money. Your hourly rate informs your decision to DIY a project at home, determine whether you’re spending too much time searching for a deal, or whether its time to negotiate a raise or other benefits at work. Your personal hourly rate shouldn’t be the only consideration but understanding the relationship between our time and money will allow us to live more meaningful and optimized...
Published 06/26/19
So many of us grew up without any sort of formal or informal education about personal finance. Few states offer a personal finance course in their public schools and even fewer participate in any sort of standardized testing for the courses they do offer. That’s why we’re really excited to have Dan LaSalle join us for this episode. Dan saw a need for this type of education in the high school where he was teaching and four years ago he took it upon himself to create a personal finance program...
Published 06/24/19
More and more investors want their money to be going to companies who are doing good in the world, or at least to companies who are being responsible when it comes to the environment, social issues, and governance. Companies who are leading in this front may also be better positioned for future challenges and experience fewer instances of bribery, corruption, and fraud (bonus: giving you better returns on your investment)! Unfortunately, with socially responsible investing being fairly new on...
Published 06/19/19
This week on the pod we’re answering your questions! 1 - Should I get umbrella insurance or put each investment property in it’s own LLC? 2 - Should I change my tax withholdings to pay off debt? 3 - How should my partner and I split bills and pursue financial independence when we have very different incomes? 4 - When should I consider switching to a bank that pays a higher interest rate? 5 - How should I structure a group of friends to discuss talking about money?And if you have a question...
Published 06/17/19
Here on How to Money, we often debate the merits of a purchase, not because we hate spending money and try to avoid doing so at all costs, but because we are constantly checking ourselves to avoid the MINDLESS spending of our money. It is a challenge to make every financial decision with the same level of intentionality but we find we are often more wasteful when we are feeling too tired or lazy to be intentional. But just being aware of some of the triggers and circumstances that lead us to...
Published 06/12/19
There is so much more to handling your finances and investing well, than just knowing the correct information. Oftentimes we’re blind to the factors all around us, including our own tendencies and biases which can have a much bigger impact on how well we money. Willpower is limited and context matters way more than we might think. That’s why we're pumped to sit down with Dr. Daniel Crosby- he is a psychologist and behavioral finance expert who helps folks understand the intersection of their...
Published 06/10/19
Anyone who has heard of the different warehouse clubs like Costco, Sam’s Club, and BJ’s has also heard that they’re a great place to save you money. But are they? With the proliferation of discount grocery stores and the ability to easily find a great deal on pretty much any product online, some are questioning whether the annual membership fees are worth it. Have a listen as we break down a bunch of the benefits, but also some of the drawbacks associated with warehouse clubs.During this...
Published 06/05/19
This week on the pod we’re answering your questions! 1 - Having just started my career, how much should I have in my emergency fund? 2 - Should I still move forward with my credit freeze? 3 - My insurance agent is recommending an insurance policy with a cash value. Should I consider it? 4 - Should we get a variable or fixed rate mortgage for our first home purchase? 5 - How do I keep my car insurance rates down after getting in a wreck?And if you have a question for us, we’d love for you to...
Published 06/03/19
How much are you paying to invest in your 401k or IRA? You might see fees as an unavoidable cost of investing, but even a 1% fee could easily cost you more than a half million dollars over your investing lifetime. Fees not only erode how much money you have to invest now, but they lessen the amount of money that is compounding in your account year after year- the impact is twofold! Listen as we discuss the different types of fees, how to look for them, and then where to go in order to avoid...
Published 05/29/19
Pretty much everyone we know would love to have more hours in their day- more time to spend with friends and family, more time to read or exercise (or any time), or even some extra hours to work on that side hustle you’ve been thinking about. We are really excited to have time management expert Laura Vanderkam on the podcast as she helps people spend more time on what matters, and less on what doesn’t. We discuss her latest book, Juliet’s School of Possibilities where she says that...
Published 05/27/19
How much are you spending on your car? Aside from housing, Americans spend more money on cars and transportation costs than any other category, accounting for 14% of the average budget. That’s $9,000 annually according to the US Consumer Expenditure Survey but it could be a lot less! Luckily, some cars cost WAY less than others to purchase and maintain, and in this episode we make some car recommendations for frugal folks.During this episode we enjoyed a Bitter by FORM Fermentery and Blendery...
Published 05/22/19