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How to Money

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Best friends Joel and Matt believe that when you handle your money in a purposeful, thoughtful way that works for your lifestyle, you can really start living a rich life.

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Personal levels of indebtedness are at all time highs in our country. Consumer spending is growing, student loans are ever-present, and car loans are becoming even more of an issue as consumers take out 72 and 84 month loans. The reality and feeling of drowning in debt is compounded when folks don’t know how to get out from underneath this crushing weight. Where do you even begin?! What we need is a plan to help us get out of debt and get our feet set in the right direction this year. Now is the time to get your personal finances in order and creating a debt payoff plan is vital to achieving your financial goals. During this episode we enjoyed a Barrel Aged Yeti Imperial Stout- thanks to our friends there at the brewery for donating this one! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
If you’re thinking about starting your own side hustle, then this episode is a #MustListen! Vincent Pugliese is a husband, dad, and a professional photographer who started out at making $15 an hour working for the local newspaper, to paying off $140,000 in debt in 4 years. Through his journey to become debt free, he discovered the power of being self-employed, and the impact it can have towards not only achieving financial freedom, but time freedom and life freedom as well. During this process, Vincent wrote the book Freelance to Freedom which has inspired many who want to quit their day jobs and start their own businesses in order to take control of their lives. During this episode we enjoyed a S’Mores Yeti by Great Divide- thanks to our friends there at the brewery for donating this one! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
We can only go so far with being frugal, before we venture into the realm of cheap. Now don’t get us wrong- frugality is a great tool in your personal finance swiss army knife. We’re frugal fellas ourselves, and we love seeing what money saving steps our friends and listeners are implementing into their lives, but frugality alone doesn’t cut it. There are times when you need to make larger cuts and prioritize the other tools in your personal finance swiss army knife to help you achieve your money goals. Today we’re going to discuss the role frugality should play in our financial lives and how to use the other tools at your disposal when adding more frugal hacks to your life just won’t do the trick. During this episode we enjoyed a Hibernation Ale by Great Divide- thanks to our friends there at the brewery for donating this one! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
This week on the podcast we’re answering your questions! 1 - I was overpaid by my employer, what should I do now? 2 - Should I convert my 401k into an IRA? What considerations should I keep in mind? 3 - I have some IRS debt. Should I prioritize my debt snowball or get after that tax debt owed to the IRS? 4 - What’s the deal with my savings account interest rate dropping? 5 - I have an ESPP that is offered at work. Should I participate, and if so, how should I go about taking advantage of my employee stock purchase plan? And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/ask/ During this episode we enjoyed a Mexican Chocolate Yeti by Great Divide - a big thanks to our friends there at the brewery! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
For most normal people, personal finance is boring! There are many reasons why Americans have a really difficult time getting their money act together, but today we’re addressing the fact that we’d rather spend our time doing almost anything else. This is a problem as it takes intentional action for the rubber to meet the road and for our hopes and dreams to be turned into a debt slaying, wealth building reality. Gamifying our personal finances can help us to actually achieve some of those goals when it would otherwise be something we wouldn’t do at all. When we can figure out what it is about a particular game that we love, then we can bridge that gap and take some of the elements from the games we love and apply them to our personal finances. We really believe that gamification will level up your money game. During this episode we enjoyed a Astral Prism by Modern Times Beer- another big thanks to our friend Craig there at the brewery for donating this one! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
It’s probably going to be hard, but waking up earlier this year can help you to get your personal finances in order! We’re excited to talk with our friend 5am Joel about how he got started waking up early and how this has impacted him personally. We both met Joel at a personal finance conference and immediately bonded over a mutual love of craft beer as well as talking about nerdy money things like investing in real estate and financial independence. He’s been waking up early for years now and we’re curious to hear how he does it so that we can begin implementing some of his tips into our daily routine as well. During this episode we enjoyed a Black House by Modern Times Beer- another big thanks to our friend Craig there at the brewery for donating this one! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
When 80% of folks report that they’re living paycheck to paycheck, it’s clear that this lack of margin in our lives is a major contributing factor to why we have some much stress in our lives. It’s true of our money and it’s true of our time as well. And with it being the new year, it’s easier to believe that a new and better narrative is possible- and it is! We have the power to change our previous negative money associations and to start handling our personal finances better this year. In this episode we’ll cover why margin is so important, some of the different things that keep us from having more of it, as well as some practical steps that we can take in order to create more margin in our lives. During this episode we enjoyed a Visible World by Modern Times Beer - a big thanks to our friend Craig there at the brewery! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
This week on the podcast we’re answering your questions! 1 - Should I consider renting out a furnished spare room, and do I go about to vet possible roommates? 2 - How diversified are index funds? 3 - Can I use funds from a car loan to pay off some high interest credit card debt? 4 - When should I transition my side hustle to a legit small business and how do I start deducting my expenses come tax season? 5 - Should I invest in my 403b with pre-tax or post-tax dollars? And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/ask/ During this episode we enjoyed a Farmhouse Pale Ale by Oxbow Brewing Co - a big thanks to our friends there at the brewery! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
Merry Christmas and happy holidays! In the midst of all the festivities, now is a good time to ask ourselves: “Buying new stuff makes us happy, right?” Well if you have a need that is now being met, there is certainly some value that item is now providing. But value isn’t the same as happiness. Hedonic adaptation, or the hedonic treadmill, helps us understand the effect of consumption. Coming to grips with that can help us end unhealthy cycles of mindless consumerism and set us on a path to a healthier way of thinking about money, spending, and saving for the future. Listen to the full episode to learn how hedonic adaptation can be terrible, how it can actually be a good thing, and then finally to learn how to hack it and truly control how happy you really are. During this episode we enjoyed a Mangifera Flux by Marz Community Brewing- a huge thanks to our buddy Andrew for bringing this beer all the way back from Chicago. And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
Our guest today is Keith Schroeder who began working in the backwoods of Wisconsin on a family farm fixing silo unloaders- not the kind of job most of us had growing up! But his passionate distaste for that work led him to file tax returns on the side and that hustle led to Keith being able to retire at age 22 however he didn’t stay retired for long. His tax preparation business exploded into a full on accounting firm where at his busiest, he was serving over 2,000 clients. He started his own blog in 2016 called The Wealthy Accountant to inspire people to “live life well” and also help them not screw up their taxes. In this episode we’ll cover Keith’s thoughts on the best tax advantaged retirement accounts, whether your side business should really be a hobby, and some important considerations as you begin to get your 2019 tax forms together! During this episode we enjoyed an Alpha Abstraction Vol. 9 by Wild Leap which you can learn all about on Untappd! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
How we pay for things has a LOT of implications. Chances are whether you use “cash, debit, or credit” is more a result of habit than a thoughtful approach to your spending. “I use my check card because that’s just what I do- and it’s easy!”. But it’s important to note that some payment methods are more secure than others, while others provide better rewards, peace of mind, or might even cause you to spend less of your money. So how do you know whether you should be pulling out your debit or credit card? Or should you stick to using cash? We’ll discuss the pros and cons and why how you pay is so important. During this episode we enjoyed an Oro Negro by Jackie O's Brewery- a big thanks to Art, Mackenzie, and all of our friends there at the brewery! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
This week on the podcast we’re answering your questions! 1 - Should we go with a cash out mortgage refinance in order to pay off student loans? 2 - Can I contribute to a self employed retirement account while also contributing to my employer sponsored plan? 3 - What does it take to be a HUD landlord and how do I balance community renovation with gentrification? 4 - We have a lot of available credit through our credit cards, but we never use it. Should we keep those cards open or close those accounts? 5 - Considering the stock market is hot and a correction is imminent, is dollar cost averaging or lump sum investing a better approach for me? And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/ask/ During this episode we enjoyed an Ogee by Jackie O's Brewery - a big thanks to Art, Mackenzie, and all of our friends there at the brewery! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
Fees are a major pain and they’ve worked their way into so many different industries! We recently talked about travel lodging and discussed the annoyance of the countless fees that might get tacked on: resort fees are some of the most confusing, but parking and WiFi fees abound too! With fees becoming so prevalent across our financial lives, we need to be aware of how and when we encounter them so we can be vigilant and intentional to avoid them whenever possible. While we understand and will readily admit that certain services and products have a cost, we really don’t like it when those fees are hidden until the last minute or when companies go about adding them in an underhanded way. During this episode we enjoyed a Bourbon Barrel Dark Apparition by Jackie O's Brewery- a big thanks to Art, Mackenzie, and all of our friends there at the brewery! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
On average, we lose 3 hours of productivity every single day due to distractions! There are countless ways that we’re distracted in our lives today, and these distractions are keeping us from doing the things we truly need to do. MAYBE YOU’RE CURRENTLY DISTRACTED RIGHT NOW. It is very easy to allow ourselves to be constantly barraged by notifications, social media, or by email and these distractions are keeping us from being good friends and family members at home, and they’re keeping us from being productive and engaged at work. This is why we’re stoked to be talking with distraction expert Curt Steinhorst today. Curt wrote the book Can I Have Your Attention? Inspiring Better Work Habits, Focusing Your Team, and Getting Stuff Done in the Constantly Connected Workplace. We often talk about ways to save money but today’s conversation will focus on how we can do a better job earning money by focusing our attention on what matters most. During this episode we enjoyed a Quatrefoil by Jackie O's Brewery- a big thanks to Art, Mackenzie, and all of our friends there at the brewery! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
When 99% of American companies are small businesses, it’s no exaggeration to say that these businesses are the backbone of our country. These startups have been responsible for almost all new job creation over the past 3 decades! And not only are small businesses important to our economy but they’re important to us on a personal level as well. These are the storefronts and people who make up our communities and neighborhoods- they’re a part of our identity! However as technology marches on, small businesses also need to adapt and utilize this innovation to continue to reach their customers where and how they want to be reached. We’re going to cover some of our favorite ways that small businesses are able to use technology to stand out in really cool ways and contribute to their local community. During this episode we enjoyed a Double Purple Chroma by Other Half Brewing. Since we recorded this episode live in NYC, we were excited to enjoy a local craft beer from the borough of Brooklyn. And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
This week on the podcast we’re answering your questions! 1 - Should I close a credit card that has a $40 annual fee? 2 - As a minor with my first job, where should I save and invest my money? 3 - How do I get my spouse on board using one of the budgeting apps? And with those apps are there any security concerns? 4 - I have a chunk of money that I plan to live off of in the coming years- where should I put it? 5 - Should I consider financing a car in order to keep my credit score high? And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/ask/ During this episode we enjoyed a Chance IPA by Wild Leap Brew Co which you can learn all about on Untappd! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
Before you’re tempted to rush out and pounce on those Black Friday deals: How amazing is it that we live in a world where there are so many ‘free’ things all around us? And how unfortunate it is, that we often don’t even see these ‘free’ resources because we’re so used to purchasing and consumption- we don’t even think to make use of them. Our technology and culture steers us in the direction to spend. Chances are you’re not taking advantage of this ‘free’ stuff and you’re overspending because maybe you haven’t thought about it or there are some things you’re not even aware of yet. Putting these resources to use will make you smarter, save you money, and will overall lead to a healthier and more balanced life. During this episode we enjoyed a Sticky Hands IPA by Block 15 Brewing Company- a big thanks to Dale for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
Kristin Wong is passionate about helping people understand money in an accessible way. She started Lifehacker’s personal finance blog called Two Cents and she also authored the book “Get Money” last year - which is a great beginner’s guide to personal finance. She has also been featured in other major publications like Refinery29 and Glamour Magazine and you can currently find her writing in Smarter Living and the NYT. Even though Kristin is not a fan of Costco, we still had a great time talking about how we can gamify our personal finances, tips for being a digital nomad, and salary transparency in the workplace. During this episode we enjoyed a Lundi IPA by Monday Night Brewing- which you can learn all about on Untappd! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
When Debt Makes Sense #141

When Debt Makes Sense #141

2019-11-2000:39:21

There are times in our lives as consumers, that we’re faced with a decision: even though I can’t afford it, do I buy this thing that I really want? “Ohhh, that new iPhone looks really awesome” or “It would be a ton of fun to take a trip to the mountains next month!”. We often already know that the answer to these questions should be “No, I don’t have the money” because we know it’s not worth going into debt for these types of expenses. But sometimes the answer isn’t always as cut and dried as we’d like it to be. What if, as someone looking to invest in yourself, you’re thinking about taking out some student loans? Or what if you’re considering purchasing a home and you don’t have hundreds of thousands of dollars set aside? Occasionally, we find ourselves in these situations where debt might make sense. Listen as we talk through some of those scenarios as well as what else to keep in mind when you’re considering taking on debt. During this episode we enjoyed a Czech Pilsner by yEAST Atlanta Brewers- a big thanks to our beer brewing friend John Francis for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
This week on the podcast we’re answering your questions! 1 - Should I make additional principal payments on my mortgage? 2 - I want to open a flexible account for my daughters- what should it be? 3 - Would you recommend a foreclosure or pre-foreclosure for us as first-time homebuyers? 4 - What do y’all think about investing in gold and other precious metals? 5 - While shopping for a house, should we take into account the potential rent from house hacking with our friend, as we consider what we can afford? And how about some specific tips for renting to a friend? And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/ask/ During this episode we enjoyed a 6A, which is a New England style saison pale ale by yEAST Atlanta Brewers- a big thanks to our beer brewing friend John Francis for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers
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Comments (59)

Levi Andersen

My style of podcast, has been helpful teaching me insights into better money management

Sep 16th
Reply

William Edwards

I can't help but comment. I love love love this show. But this woman is incredibly annoying. Her parents are responsible for her shift. And 44 cents in the 90s in China isnt so bad for food. She talks way too fast and throws buzzwords around like flies. Imagine trying to get a word in or disagreeing with her. And newsflash if you're spending 40k a year living overseas and that's somehow cheaper than living in the states, you're doing it wrong. Nobody I know considers 40k cheap.

Sep 6th
Reply

lisa white

please make a show about how to buy a cheap used car in good condition. im talking under 5000. ty. keep it up. i love you guys❣

Aug 19th
Reply (1)

Kevin Castellano

Can you guys do an episode on Prize Linked Savings Account PLSA?

Aug 9th
Reply (1)

Ruby

Bookmarked for job security

Aug 7th
Reply

Morgan Besterman

fantastic episode!

Aug 6th
Reply (1)

James Little

I think this podcast is excellent and accessable. Ideally public education would teach these kinds of money concepts. Since it doesn't (at least not in New Mexico) I'm very happy to learn about them from two engaging people who are clearly great friends. It's an easy podcast to listen to and it teaches you quite a bit along the way.

Jun 26th
Reply

podperson

she offered nothing concrete aside from live minimally and invest in rental properties. im calling bullshit on this lady, shes leaving out key info.

Apr 30th
Reply

Jonny

Finally, an episode for the masses.

Apr 29th
Reply

Eva Ramirez

Thanks for the podcast! I appreciate that it is not as preachy as some other financial podcasts. We all make mistakes but we all came here to better ourselves.

Apr 10th
Reply

Sean Koniarz

loving the podcast. trying to get better with money and this podcast is for sure helping. I don't really care about the beer drinking but I just skip thru it if I want to end the episode a few minutes faster. and it keeps the podcast at the roots of where it started

Apr 7th
Reply

gamisou

I really like these guys but it's unbelievabably annoying when they talk about craft beer and other garbage for 15 minutes

Apr 5th
Reply

Ethan Pcolar

Light-hearted, easy listening with a solid structure. I like how they keep beer as the end caps on an episode and avoid financial jargon that may derail less savvy listeners. This podcast and the guys' attitudes throughout help paint money in an approachable and fun way. Whether it's a quick tip, advice from financial big dogs, or a grounded anecdote at the root of a financial lesson; these guys deliver great insight on the seemingly complex world of $$$. Overall: a great addition to your podcast quiver.

Mar 28th
Reply

Mo Hossain

Fantastic podcast, with lots of insights into personal finance and life hacks. Recommended for everyone!

Mar 20th
Reply

L.

I just got my first credit card and I had NO IDEA that credit utilization effected my score. great podcast!

Mar 14th
Reply

Nicole Jakubiak

I love, love 😍 this podcast. Money stuff can be so intimidating, but you guys make it easy to listen, and learn, and enable the tips you talk about! Plus, I don't feel down on myself for some things that I could be doing better! Thanks for making this podcast!

Mar 10th
Reply

jason monday

go small and enjoy your home!

Mar 8th
Reply

chetan patil

if you guys could start the actual podcast a little early!!!! that's the only issue I have!!!......it tales a good 25 to 20 min for you guys to get to the point

Mar 2nd
Reply

Jarrett Ford

Did you just scramble our brains?

Feb 27th
Reply

Kyler Christian

I just completed the gauntlet of episodes in record time. I think started listening around a month ago and ran out new shows! Awesome stuff, we share many of the same philosophies on life, traffic, beer and money! I too hopped on the electric bike train early on, about 4-5 years ago now. 10 mile commute both ways but with the traffic here in Santa Cruz California I actually got to work faster than driving. Definitely a good time for reflection, fresh air, and maybe a podcast in one ear. Keep up the good work guys, you have an awesome thing here.

Feb 24th
Reply
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