Couple Money Podcast (personal finance)

We're doing a listener Q and a, and we're answering two big marriage and money-related questions: finding better banking options and how to decide whether or not to loan money to friends or family!

Answering Your Marriage and Money Questions

Last Q&A we covered getting back on track with financial goals, raising credit scores, and jumpstarting your financial cushion. 

So what’s on your minds now? 

For one, it looks like you’re looking for a better banking option. That’s a smart move as many of us realize how key our checking and savings are in family finances. Getting hit with needless fees not only is draining your account, but most times it’s not for your benefit, but instead about growing their profit. 

We’ll also look at how to help out a friend financially without hurting your own finances.

We got a lot to cover, so let's get started!

Resources to Tackle Your Money Together

Thanks to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

See how Coastal can help you with your mortgage needs and Daymark Realty has a fantastic team ready to help find the perfect house for you in the Triangle area! 

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more. 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit of an IRA is choosing how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start to finish – for FREE. And yes, that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple , Spotify, or Audible.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Ever dream of getting away from it? Learn how to prepare and plan your own adventure as Mike shares how he and his wife took their family on an RV trip across the Americas!

Family Adventure: How to Plan for an Epic RV Trip

Get your next family adventure planned! Catch this week's show and see how Mike and his family took a year long RV trip across the Americas!

We've been talking in a series of episodes about travel all this month- how to plan these different types of trips for your family that you'll enjoy and remember for a long time. But have you thought about doing something bigger? 

Something where you don't just go away for a week on a vacation or a cruise, but actually take a break from your job, your house, and explore a different part of the world for a while?

Sounds pretty crazy, right? I think most people would have a few things. That immediately come to mind about why it wouldn't work.

  • How would we pay for this?
  • Would we be able to find a job after we return?
  • Could we sell your house?
  • If you have kids, how would they deal with things?

They're normal questions and concerns to have. I'd take it as a sign that you're someone who thinks things through. But wouldn't it be fun to shake up things a little?

Mike Heroux of Dividend Guy is on the show to help you go from dream to reality by sharing his story and take on things. He and his wife are wrapping a trip they took as a family five through the Americas.

In this episode, we look into:

  • how they prepare their finances and themselves for their RV trip
  • dealing with difficulties on the road
  • how you can start building some income on the side for your own adventure

Hope you enjoy it!

 

Resources to Travel More

Thinking about traveling more this year? Here are some resources to check out to get you up and running with travel hacking:

Don't forget to send in your marriage and money questions for our upcoming listener mailbag episode!

Thanks to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

See how Coastal can help you with your mortgage needs and Daymark Realty has a fantastic team ready to help find the perfect house for you in the Triangle area! 

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more. 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit of an IRA is choosing how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start to finish – for FREE. And yes, that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple , Spotify, or Audible.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
    
 
 
 
 
 
 
 
 
 
Direct download: 21_Family_Adventure_RV_Trip_Across_the_Americas.mp3
Category:personal finance -- posted at: 7:14am EDT

Want to see more of the world, but are limited by budget? Learn how one couple used travel hacking so their entire family could take fantastic trips! 

Travel Hacking as a Family

While, I know many families are eager to get out there and traveled to summer. I also know that one of the holdups they have is their budget.

Whether you're flying, renting cars. Staying at an Airbnb hotel. Everything has gotten more expensive. Traveling as a couple can be pricey, but still feasible. But it can be a financial challenge when you add kids to the mix.

That's why I want to share from the archive and interview I had with Dan Miller, founder of Points With a Crew.

Dan's managed to score some wonderful deals on his trips including getting plane tickets for his entire family to lake Tahoe and a cross country train ride. Did I mention they're a family of eight?

Hopefully we'll show how you can keep more money in your pocket and still have your family seeing the world around them.

In today's episode he shares:

  • how to choose the right credit cards to maximize rewards
  • staying out of debt while staying on top of their credit cards
  • tricks and tips on getting kids ready for traveling

Hope you enjoy!

 

If you're looking for more travel tips from a couple with kids, please check out my interview with early retiree Justin from Root of Good.

Travel Hacking Resources and More

Want to learn more about travel hacking? Here are some resources to check out:

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

See how Coastal can help you with your mortgage needs and Daymark Realty has a fantastic team ready to help find the perfect house for you in the Triangle area! 

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf.

Support the Podcast

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple , Spotify, or Audible.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

This episode was originally released in April 2015. Show notes have been updated in May 2022.

 

 

Find out how and get started today!

Direct download: 20_Family_Travel_Hacking_with_Points_with_a_Crew.mp3
Category:personal finance -- posted at: 7:09am EDT

Want to Take Cross Country Road Trip Together?

How many times have you guys thought about traveling? Not just a weekend getaway or a vacation, but really seeing another place? What's stopping you? 

These last few years with the pandemic have been..well, alot. We’ve had lockdowns, restrictions, and having to adjust work for the norm. On top of that, if you have kids, school looked completely different. 

While we’re understandably cautious and keeping an eye on things, I believe many of us are also hoping not just to travel like before but want to try something different. 

That Trip Advisor survey I mentioned last week about travel trends highlighted that more people wanted to explore different locations. It was less about visiting tourist traps and more about embracing their destination’s uniqueness.

That’s why I’d think you enjoyed my interview with Derek and Carrie Olsen. Years ago, they, along with their then toddler, took a cross-country trip with their trusty travel trailer. 

Even now, it’s one of my favorite interviews. They’re a sweet couple but they also had some fantastic tips and thoughts on how to simplify things and have a true family adventure. 

So whether you’re thinking about taking an epic trip or pivoting in your career or life, I think you’ll enjoy this chat. 

In this episode, we get into: 

  • how Derek and Carrie prepare for this trip
  • how you can purge and shed your stuff to either get rid of the clutter or make some money 
  • how you stay motivated so you can achieve your goal 

I hope you enjoy!

Resources to Have a Memorable and Affordable Trip

 Here are some resources to check out:

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

See how Coastal can help you with your mortgage needs and Daymark Realty has a fantastic team ready to help find the perfect house for you in the Triangle area! 

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

pport the Podcast

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple , Spotify, or Audible.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

This episode was originally released February 2016. Shownotes and episode were updated May 2022.

 

Direct download: 19_Planning_and_Taking_Cross_Country_Road_Trip_.mp3
Category:personal finance -- posted at: 7:46am EDT

Want to get out and travel more this year without breaking your budget? Learn how you can use travel hacking as a couple to get great deals on your trips!  

Travel Hacking Together

As we move into May, I’m hearing more and more couples talk about travel. With better weather and after an unprecedented - yeah I said it - two years, many are looking for a change in scenery. 

According to Trip Advisor, 68% of Americans are looking to travel domestically and 29% are considering a trip abroad. Travel can be a fantastic way to shift our perspectives and rest a bit. 

Because many in our community are trying to work toward financial goals as well, it’s even more important to find ways to get deals on vacations. 

That’s why I want to pull from the archives and share an interview I had with Peter and Ruby, from  A Journey We Love.

They had some wonderful travel hacking tips on how to keep your trips low stress, fun, and affordable. 

During our chat, we got into: 

  • their process for finding deals with their trips
  • how they budget during their travels
  • tips for first-time travelers

Hope you enjoy it!

Travel Hacking Resources and More

Want to learn more about travel hacking? Here are some resources to check out:

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

See how Coastal can help you with your mortgage needs and Daymark Realty has a fantastic team ready to help find the perfect house for you in the Triangle area! 

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple , Spotify, or Audible.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

This episode was originally released in January 2017. Show notes have been updated April 2022.

Direct download: 18_Travel_Hacking_Couples_Edition.mp3
Category:personal finance -- posted at: 7:10am EDT

Thinking of selling your house? Today we’ll go over how to prepare your place so you can get the best price for it!

What You Need to Know to Sell Your House for More

Thinking of selling your house? Today we’ll go over how to prepare your place so you can get the best price for it! #realestate

So far this month, we’ve been focused on buying a house. We looked at mortgages last week, discussed how to find some hidden gems in your city, and what mistakes to avoid during your house hunt.

Now we’re looking at the other side: selling your place. 

Right now in Raleigh, it’s a seller’s market. On the plus side, houses are selling faster and for more. Still, it can feel overwhelming, especially if you’re also trying to find your next place at the same time.  

So how can you prepare your place to maximize your sales price? Which updates can attract more interest and which can hurt? Is there a good time to list your house?

These are a few questions that can pop up so that’s why I’m thrilled to share from the vault an interview I had with Mariella Guillama is here today. She’s an award -winning Real Estate Broker at Daymark Realty.

We used Daymark when we sold our first home and for buying our current place. We’re super happy with the experience. 

In this episode, we’ll get into:

  • finding the best price to list it 
  • what mistakes to avoid so you’re not wasting time or money
  • how to prepare your place so it wows potential buyers and you get top dollar offers 

We have a lot to cover, so let’s get started!

Resources to Get Top Dollar When Selling Your House

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

See how Coastal can help you with your mortgage needs and Daymark Realty has a fantastic team ready to help find the perfect house for you in the Triangle area! 

 

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple , Spotify, or Audible.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

This episode and show notes have been updated April 2022.

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

Direct download: 17_How_to_Get_Top_Dollar_When_Selling_Your_House.mp3
Category:personal finance -- posted at: 7:16am EDT

Buying a house is typically the biggest purchase couples make so you want to have your numbers line up with your goals and budget. Learn how you can find the best mortgage rates when you house hunt! 

Buying a house is typically the biggest purchase couples make. Learn how you can get the best deal with your house and mortgage and save tens of thousands of dollars! 

Finding the Best Mortgages Rates

Are you two getting ready to start house hunting? Congratulations!

When we were looking for our now current house, I remember the excitement of visiting and touring places.

I also remember the other side of the house hunt: getting paperwork for the preapproval letter, running the numbers to figure out our budget, and reviewing mortgage documents. 

At the time, it was a bit intimidating. Knowing that this was a huge purchase, we really wanted to get it right. 

Thankfully we had a great team that answered all of our questions. Now years later, we are still happy with how things turned out. We have a home that we love that's also affordable enough that we can take care of other goals and dreams.

I want you to feel the same way about the home you buy and a key part of that is finding the mortgage option for your family’s budget. 

This is why I’m thrilled to pull from the archives an enlightening chat I had with Wendy Dawson. She’s the Vice President of Mortgage Lending over at Coastal Credit Union.

She decodes a lot of the jargon and gives some fantastic tips on finding the right mortgage.

In this episode we get into:

  • what mistakes to avoid as a first-time homebuyer
  • typical costs of being a homeowner (beyond the mortgage payment)
  • what exactly are Mortgage Interest Rates, APRS, Origination Fees, and Points

Hope you enjoy it!

 

Resources on Getting a Great Deal on Your Mortgage

If you’re looking to buy, here are some resources to help you find a great deal with your mortgage

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

See how Coastal can help you with your mortgage needs and Daymark Realty has a fantastic team ready to help find the perfect house for you in the Triangle area! 

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

 

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

 

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple , Spotify, or Audible.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Find out how and get started today!

        
 
 
 
 
 
 
 
 
 
Direct download: 16_How_to_Find_the_Best_Mortgage_Rates.mp3
Category:personal finance -- posted at: 7:36am EDT

Looking to buy a house you can comfortably afford? Today we’re going over how you can find a hidden gem and not a money pit! 

How to Find and Buy a House You Can Afford

I don’t know how things are in your area, but here in the Triangle, the housing market is hot. Prices have shot up. The median price of homes currently listed in Raleigh is $379,000

To give you some context, a townhouse on our street went for more than double what we paid for our single-family house a few years ago.

Just the other week, I caught a story on the local news about how unaffordable the Raleigh Durham area is getting.  If you want to buy a house you have to be a savvy house hunter. 

Now you may have heard that you can snag a deal with a fixer-upper, but how do you know which houses are diamonds in the rough and which ones are money pits?  

If you’re thinking of or are planning on buying a house soon, you may be facing these same questions and challenges. That’s why I’m pulling from the archives my interview with

 Louis Guillama

He's the Vice President of Real Estate Operations over at Coastal Credit Union. He has decades of experience with the real estate agent side as well as home renovations. 

In this episode, we're going to discuss:

  • the differences between buying new construction versus resale 
  • spotting great (and still affordable) neighborhoods, and then 
  • finding a fixer-upper instead of a money pit

We have so much to cover, so let’s get started! 

Resources on Buying a House

If you’re looking to buy, here are some resources to help you find an affordable place you love!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

If you need an agent, Daymark Realty has a fantastic team ready to help find the perfect house for you in the Triangle area! 

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process– for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple , Spotify, or Audible.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

This episode was originally released in July 2019. Shownotes have been updated April 2022.

Direct download: 15_How_to_Find_and_Buy_a_House_You_Can_Afford.mp3
Category:personal finance -- posted at: 7:16am EDT

Are you house hunting or about to start? Learn how you can buy the right house for you and your budget. 

Mistakes Home Buyers Make

Buying a house is usually one of the biggest purchases you can make and the financial paperwork of getting a mortgage gets complicated quickly. 

Besides having a down payment ready, you have other costs like 

  • Home inspection
  • Lender fees
  • Appraisal
  • Title search and insurance fees
  • And so forth

If you’re buying a $300,000 home, you’re looking at paying anywhere from $6,000 to $15,000 in closing costs. If you’re living in an HCOL area, those numbers leap up. 

It's really important to make sure you're ready for this leap before you signed the papers.

You rush into it and you’re stuck with a mortgage you can’t comfortably afford, making your home a burden, not a blessing. 

If you live in a hot real estate market it’s even more of a challenge. You’re dealing with multiple bids, some of them being much higher than the listing price. Here in Raleigh, it’s not uncommon to be competing with all-cash offers. 

In the middle of 2020, my mom moved to be closer to us in Raleigh and we helped her with the home buying process. It was stressful because there were so many more buyers than houses. It took some patience, reflecting on what features she needed and truly wanted, and honing in on the budget, but thankfully she bought a great place for herself.  

Whether you’re a first-time buyer or not, my advice is to detach yourself emotionally from the process. That’s easier said than done. 

That’s why I want to share from the archives an interview I did with Jonathan White. He’s the author of A Tale of Two Houses: Our journey of buying a home the right way after buying one the wrong way. 

As you can guess from the title, Jonathan understands some of those house-buying traps many of us fall into. He made

In this episode we get into:

  • Some of those home-buying myths that can get you into trouble
  • Unexpected expenses that come up as a homeowner
  • Why you need to run your own numbers

Are you ready? Let’s get started! 

Resources on Getting a Great Deal on Your Mortgage

If you’re looking to buy, here are some resources to help you find a great deal with your mortgage

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

See how Coastal can help you with your mortgage needs!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

 

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Avoid House Fever and Myths

How TO buy a house as a couple

Even though had a background in accounting, Jon wasn't immune to house fever.

Jon kept hearing from his friends how great home ownership was. Many comments he heard matched what we used to hear too.

Some of my ‘favorites' include:

  • “Renting is throwing away money.”
  • “Home ownership helps you build equity.”
  • “Real estate is an investment that will pay off.”

While it may be well-intentioned or based on their personal experience, these comments may not be true for your circumstances.

You have to really look at the costs before you buy a house. Besides the obvious, there are expenses that homeowners may have that renters don't.

Taking care of your own maintenance is a big one.

Depending on where you live, you may find yourself buying property that is a part of an additional expense – a home association.

Before you buy a place that's a part of a home association:

  • Know the bylaws.
  • Check with residents. See if they're happy or not.
  • Ask about fees over the last few years. Have they been increasing? Why?
  • See what are the HOA's responsibilities and which would be yours.

Jon found out the hard way when he was hit with $5k special assessment!

Taking Time to Buy the Right HouseLearn how you can find the right house for your family and budget.

Fast forward a few years, Jon got married. He and his wife used the principles and baby steps of Dave Ramsey to build their finances together.

Eventually they became parents and that's when they began to consider selling the condo and getting another house with some more space.

Seeing where things went wrong, Jon was determined to not let the same thing happen with their next house.

He and his wife started with running the numbers themselves.

Knowing what they could afford proved to beneficial as they were tempted with one house during their search.

While they didn't get that one, they did find a house that suited their family and was within their budget. Now years later, they're both happy with where they are.

If you want to be better prepared for your house hunt, please check out Jon's new book,  A Tale of Two Houses.

Jon goes into detail about the mistakes he made when he purchased his condo in 2006 and what he and his wife did right with their current home!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher or Audible
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
  • Become a Patron

Music Credit

Like the music in this episode? Come check out artists over at Audiio!

Direct download: 14_Most_Common_Home_Buying_Mistakes_to_Avoid.mp3
Category:personal finance -- posted at: 7:53am EDT

Carla Titus shares the realities of running a profitable business from home and how she and her husband created a system that fits their goals and family life!

The Realities of Starting a Side Hustle from Home

Nowadays it’s become more common for couples and families to diversify their income.

Whether it’s because they looking to knock out some debt, save up for a house or another goal, or they want to pivot their career, couples are looking at side hustles. 

We’ve had several episodes about the essentials of starting a side business, but one of the biggest struggles many have is sustaining it. 

Whether it’s working around your family or day job, the reality is you only have so much time. How do you make it work? How can you start and build a business? 

Carla Titus is on the show today to share her expertise and her story. 

She is the CEO of Wealth and Worth where she uses her over ten years of corporate financial planning, analysis, strategy, and startup CFO experience to help entrepreneurs take control of their finances and level up their business.

In this episode we’ll get into:

  • Finding not that balance, but the flow between family and your side hustle
  • When to outsource 
  • how to get the pricing right – many entrepreneurs struggle with this

Hope you enjoy!

Resources for Launching a Side Hustle

Here are some fantastic resources to check out:

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher or Audible
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
  • Become a Patron

Music Credit

Like the music in this episode? Come check out artists over at Audiio!

 

Direct download: 13_Run_It_Like_a_Biz.mp3
Category:personal finance -- posted at: 10:00am EDT

Feeling trapped by debt? Get the strategies, tactics, and resources to help you pay yours off faster! 

Using Side Hustles to Pay Off Your Student Loans and Other Debts Faster

Depending on where you are with your financial journey you may be dealing with debt. In some cases, a mountain of it. 

Right now people are keeping an eye out on student loans and understandably so. It’s been estimated that 62% of college seniors who graduated from nonprofit colleges in 2019 had student loan debt.

It’s a burden on many budgets and can feel even heavier if you have other debts like car payments and credit cards. Did you know that the average payment for a used car is over $400

It may be that earning more is a necessity if you’re trying to get out of debt as soon as possible. 

This is why I wanted to share from the archives a discussion I had with Kevin, attorney, side hustler, and the creator of Financial Panther. Years ago, he used side hustles to pay off $87,000 in student loans in less than 3 years!

In this episode we'll get into:

  • what motivated him to pay them off ASAP
  • the real work involved with different side hustles 
  • how your phone can help you earn cash

Hope you enjoy!

If you want to get the ins and outs of repaying your student loan, please check out my interview with Jay Fleischman.

Resources to Pay Off Debts Faster

If you're ready to dump your student loan debt, here are some resources to check out:

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast! 

If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word. If you have friends who could boost their savings, please share this episode with them on social media or just email the link!  
  • Leave a review. Every review helps! Please share your honest feedback on Apple Podcasts,  Spotify, or Audible
  • Become a Patron
Direct download: 12_How_to_Side_Hustle_Out_of_Debt.mp3
Category:personal finance -- posted at: 7:29am EDT

Looking to balance work and family? LaTisha Styles shares her take and story on being a happily married entrepreneur!

Entrepreneurs + Marriage

entrepreneurship-marriage-work-life-balance-couple-money

One of the ways the pandemic has reshaped things is by seeing how many more people are working from home.  I’ve seen different reports and estimates give ranging from 25-32%. 

Working from home offers many benefits, but has its challenges. I’ve been working from home for years and had a flow. When my husband went full-time remote and the kids did the virtual academy with school, we knew we had reconfigured a few things to make it work. 

We created spaces for school and work and had to adjust our schedules and routines. As working parents, we have to be careful that work doesn’t spill over to family time. 

It’s especially hard as an entrepreneur, where you have a huge impact on your business’s bottom line. 

This is why I’m pulling from the archives an interview I had with LaTisha Styles. She’s the Founder & CEO of You’ve Got Clients®, a marketing consultancy.

When I first met her she created Young Finances to help millennials build better habits with their money. 

During our chat, Latisha shared her thoughts, experiences, and tips on being an entrepreneur and being fully engaged with her family.

In this episode we get into: 

  • what made Leticia start her own business
  • creating boundaries for her family and business
  • how she and her husband support one

I hope you enjoy it! 

Resources to Help You Launch a Side Hustle

If you're ready to make the leap, here are some more resources to help you build another income stream.

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast! 

If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word. If you have friends who could boost their savings, please share this episode with them on social media or just email the link!  
  • Leave a review. Every review helps! Please share your honest feedback on Apple Podcasts or Spotify
  • Visit our Couple Money Toolkit for more info on available apps, tools, and services to master your money together.
  • Become a Patron

This episode was originally published in November 2016. Show notes have been updated March 2022.

Direct download: 11_Marriage_and_Money_Finding_Your_Work-Life_Balance.mp3
Category:personal finance -- posted at: 8:00am EDT

Looking to boost your income? Learn how to find and launch a side hustle so Are you thinking of starting a side hustle, but you're afraid of burnout?

Learn how you can have the best of both worlds – diversify your income and earn money on the side while keeping it sustainable and fit around your schedule!

Boost and Diversify Your Income

All this month we’re focusing on ways to earn more.  The concern though is about the time and effort involved with building up another stream of income.

Most of us are busy and we're not looking to take on a second job at night or the weekends, especially if we have other responsibilities, including kids. This is where a side hustle can be a practical solution.

First, though, let's talk about some of the worries people have about starting a side hustle.

Type in ‘side hustle' on the web and you'll get some pretty ridiculous claims. Too many times it's this empty promise of getting rich quick.

Or it's all about the grind, where people brag about the crazy hours they put in.

When I say side hustle, I'm referring to part-time entrepreneurship that is built around your schedule. I know there are those who push the grind, but I’m not interested in sharing ways you can burn-out.

I want you to find and launch a sustainable business on the side. Today's show is designed to help you figure out if this is the right option for you. 

From the vault, I found a gem of conversation with Nick Loper. He’s the creator of Side Hustle Nation and author of multiple books. 

One thing I respect about Nick is how open he is about when things work and when they don’t. If you decide to pursue a side hustle, I want you to have a clear view of challenges that can come up and resources that can make things easier. 

In this episode we get into:

  • Why it’s important to diversity your income
  • give you some tips on how to be productive
  • How to use your side hustle money to speed your way to financial freedom

Are you ready? Let's get started!

Resources to Help You Launch a Side Hustle

If you're ready to make the leap, here are some more resources to help you build another income stream.

Direct download: 10_How_to_Diversify_Your_Income_with_Side_Hustles.mp3
Category:personal finance -- posted at: 7:29am EDT

Want to make extra money to help you pay down debt or explore a new career? Chris Guillbeau shares how to launch a profitable side hustle in 27 days!

Want to Launch a Side Hustle?

One of the biggest hurdles I see and hear from couples in the community about why they're not able to pay down their debt, save or invest more is that they don't really have a lot of buffer in their budget. They just don't have that extra cash to put towards their goals.

Typically, when you look at the numbers, there are a few ways that you can optimize your budget and cut down on some expenses, maybe negotiate some better deals on some bills. Sometimes, though, it isn't just a spending issue. It's an income issue.

After your worked a full-time job, Most people I know aren't necessarily looking to take on a second one and being tied down to another fixed schedule for so-so pay.

Is there a way for you to earn more, maybe on the side, that caps into one of your talents and can you use that income to either grow your emergency fund, knock out some of, knock out some or all of your debt, and explore a new career?

If you've been online for any amount of time, you've probably heard the idea of starting a side hustle. But I'm not talking about what you see typically in social media where people are practically bragging about how many hours they are putting in.

If that works for them. Great.

Today I'm going to be talking about starting a side hustle that is sustainable. That means that you're not focused just on the hours you're putting in, but you're thoughtfully planning out the process so that you're making an impact, building some income, and still have a life.

Which is why I'm so happy to pull from the archive in interview I had with Chris Guillebeau.

He's a serial entrepreneur, host of the Side Hustle School Podcast, and author of several books.

In this episode, we get into how you can figure out what a good side hustle would be for you. The process of starting one and launching in about a month. And how has sustainable side hustle? Can also help you build your legacy. Are you ready let's get started

In this episode we get into:

  • why a side hustle can be a wonderful option
  • how you can start one in less than a month
  • why and how a sustainable side hustle can also build your legacy

Hope you enjoy!

Resources to Launch a Profitable Side Hustle

If you’re looking to start or build a side hustle, here are some resources to check out:

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast! 

If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word. If you have friends who could boost their savings, please share this episode with them on social media or just email the link!  
  • Leave a review. Every review helps! Please share your honest feedback on Apple Podcasts or Stitcher
  • Visit our Couple Money Toolkit for more info on available apps, tools, and services to master your money together.
  • Become a Patron

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere and Logan from Music for Makers in this episode.

 

Direct download: 9_How_to_Create_and_Launch_a_Profitable_Side_Hustle.mp3
Category:personal finance -- posted at: 8:00am EDT

oday we’re answering your marriage and money questions – choosing financial goals, raising credit scores, and how to start an emergency funds!

Answering Your Marriage and Money Questions

Welcome to another community mailbag episode, where we tackle your marriage and money questions. And we have some great ones today.

These past two years have been challenging for many in our community because of the uncertainty. For some couples, the big goal is to get back to their financial goals because they've hit the pause button for a while. Not getting any worse with their finances, but not making the progress that they want to.

Today, we're going to focus on how to get back on track by honing in on key goals to tackle this year.

We also have some couples looking forward to buying a house in the near future so something that they want to do now is to raise their credit scores to hopefully qualify for uh, competitive mortgage rate.

Finally one lesson that's really sunk in these days is the importance of having a financial cushion. The first step with that is getting a starter emergency fund up. How do you jumpstart that process?

We have so much to cover today. So let's get started!

Resources to Win with Your Money

Want to go ahead and tackle your big marriage and money goals? Here are the resources we mentioned in today's episode along with some extras!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

 

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast! 

If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word. If you have friends who could boost their savings, please share this episode with them on social media or just email the link!  
  • Leave a review. Every review helps! Please share your honest feedback on Apple Podcasts or Stitcher
  • Visit our Couple Money Toolkit for more info on available apps, tools, and services to master your money together.
  • Become a Patron. 

Special Thanks! 

The music today was provided by various artists over at Audiio.

Direct download: 8_Marriage_and_Money_Mailbag.mp3
Category:personal finance -- posted at: 10:57am EDT

Want to retire early, but your spouse isn't ready? Learn how Jamila and her husband got on the same page with financial independence and saved over $80,000 last year! 

Getting on the Same Page with Financial Independence

Wouldn't it be fantastic if the two of you were instantly on the same page with your finances?

Even though we’re at a place where we’re on the same page with major goals, there’s still times where we have to sit down and figure out the details about how to go about. We try to find solutions that we’re both happy with. 

It could be one of persuading the other or it could be putting together a third option. In other words, don’t be surprised when two of you aren’t instantly on the same wavelength. 

I believe that’s a strength with marriage – you two are seeing and testing ideas out from different perspectives. 

That’s why I really connected with what Jamila said at the top of the show. You can sometimes be enthusiastic about tackling your debt, saving more, or investing towards retirement and your spouse….ehh..not much. 

Since you’re in this together, how do you get your spouse on board, especially when it's a huge shift with your finances? 

That’s why I’m excited to share from the archives an interview I had with Journey to Launch creator Jamilia Souffrant since she’s been down this path. She has gotten her husband on board with drastically increasing their savings so they could pursue financial freedom and independence.

In this episode, we get into:

  • how she and her husband first handled their money and paid down debt
  • discovering financial independence and winning him over
  • how they work together with money and created a system that respects both their styles

Hope you enjoy! 

Handy Resources for FI Couples

If you’re looking to get ahead with your finances as a family, here are more resources to check out!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

 
 
 
 
 
 
 
 
 
Direct download: 7_Getting_on_the_Same_Page_with_Financial_Independence.mp3
Category:personal finance -- posted at: 8:49am EDT

Fast rising rents can break a couple’s carefully planned budget. Learn six strategies that can help lower your rent and keep more money in your pocket! 

Getting a Deal on Your Rent

One of the biggest expenses for couples is housing, especially when it comes to renting in a high cost of living area.

According to Realtor.com's Monthly Rental Report, on average the cost of rent was 10.1% higher in 2021 than in 2020. 

Living in the Triangle area of North Carolina, we’re seeing rents rise fast. We’ve heard from multiple friends how quickly their rents have jumped. 

There have been plenty of news stories about it. Rents in Durham 20.1% and here in Raleigh going up 22.1%.

Since our theme this month is about saving you money, I’m glad to highlight my chat with Justin Pogue. He's an asset & property management professional and the author of Rental Secrets.

Justin shared with me some strategies that can help you get a better deal on your rent and save some serious cash. 

In this episode we get into:

  • Six strategies to lower your rent
  • Biggest mistakes he sees renters make 
  • What to look to for when apartment hunting

Are you ready? Let’s get started! 

Resources to Boost Your Savings Rate

Want to start boosting your savings rate? Here are some resources to check out:

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast! 

If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word. If you have friends who could boost their savings, please share this episode with them on social media or just email the link!  
  • Leave a review. Every review helps! Please share your honest feedback on Apple Podcasts or Stitcher
  • Visit our Couple Money Toolkit for more info on available apps, tools, and services to master your money together.
  • Become a Patron. 

Special Thanks! 

The music today was provided by various artists over at Audiio. 

Direct download: 6_Stratgies_to_Save_and_Lower_Your_Rent.mp3
Category:personal finance -- posted at: 7:17am EDT

Looking to hit your money goals faster? Today we’ll share one couple’s best tips that allowed them to save half their income! 

How to Save More Than Half Your Income

Did you know that ‘saving more’ was one of the top three goals for finances for 2022? Actually as I’ve been reviewing the data from Fidelity’s Financial Resolutions Study, I’ve noticed it’s been there for several years. 

Understandably so because there are plenty of goals families are saving up for. 

You have specific goals: an emergency fund, vacations, down payment for a home or money to start a business. You could be stashing away money towards your 401(k) or IRA so you can have something for retirement. Or you want to help out your kids with college or wedding expenses. 

Wait, maybe 50% isn’t enough. 

Sometimes it does feel that way. 

Hopefully it does highlight why it’s so important for all of us to get into the habit of saving. 

The good news is all this month we’re going to examine different stories and ways you can not only save money, but still have a life. 

By looking at how other families manage their money, you can test them out and see which ones work best for you. 

Which is why I’ve pulled this conversation I had with Matt of Distilled Dollar from the archive. He’s definitely someone I’d consider a super saver, but that wasn’t always the case. 

As you’ll hear he and his now wife had over six-figures of student loan debt. 

In our chat,

  • Matt breaks down what motivated him to pursue financial independence and become a super saver
  • how they approach their spending (it’s not a traditional budget)
  • some hacks they do to keep their expenses low living in Chicago

Are you ready? Let’s get started! 

It’s not your typical millennial money story.

  Hope you enjoy!

 
Elle Martinez         
How to Save More Than Half Your Income with Distilled Dollar           How to Save More Than Half Your Income with Distilled Dollar          
 
 
 
 
 
 
 
 
 

If you’re looking additional ways to save half your income, please check out my interview Joe and Kathleen of Stacking Benjamins.

Resources to Boost Your Savings Rate

Want to start boosting your savings rate? Here are some resources to check out:

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Join the Community & Get Your Free Money Toolkit!
Quickly & easily set your money up to hit your goals faster!
Featured Image
 

Find out how and get started today!

Getting Out of the Paycheck to Paycheck Cycle

Back in 2014 Matt and his now wife were carrying a ton of debt. He was 24 and she was 23 and between the of them, they had around $150,000 in student loan debt. 

This huge amount of debt was affecting their relationship. 

We were obviously heading in the wrong direction. I mean we wouldn't fight about money but there was this underlying current strife and turmoil associated with paying off our loans.

Matt – [2:05]

What's amazing is that they have gone from being deep in debt to becoming financially free. 

They dumped all of their $150,000 of student loans in four years! 

It wasn't an easy process, but it's doable.

Matt shared the strategies and tactics that pushed them to save 60% of their income.  

Looking to dump your debt or reach your dream faster? Learn the strategies and tools Matt and his fiancée used to save more than half their income - while still having fun! #saving #money #marriedlife

Financial Freedom, Not Deprivation

No matter how you look at it, a 60% savings rate mean there is a serious drop in spending. 

Now you might be thinking that this means you deprive yourselves of fun, but that's not the case. 

Many times as you define clearly what you want (financial freedom), you begin to see that there are opportunities to dig deeper to still have fun without the needless expenses. 

Here are some of their big money wins:

  • Live tiny, save big. By skipping out on the extra bedroom and strategically hunting for a place that was close to work, they were able to save about $12,000/year. 
  • Skip the car. Tied to finding the place for them, by focusing on a location where walking was a viable option allowed them to dump the car and all of the associated expenses. That meant they could save over $8,000/year. 
  • Meal plan like a champ. Matt saves a ton of time and money with this one. Lunches out with coworkers can quickly add up. Matt thinks they easily save $5,000/year by cooking more at home. 
  • Seek low-cost entertainment. Eating out and going to the movies can be a fun and expensive way to relax. they now watch most of their movies at home and explore free events around Chicago when they want to have a night out together. They estimated about $300/year saved with just the movies at home switch. 

So with these five changes, they saved over $25,000 a year! Do you see how focusing on big wins can speed up your timetable? 

If you want more ideas on how you can save, I created a free course – 5 Days to $5K – that will take you step by step on having big wins without spending a ton of time. Most of my tips can be implemented in about 20 minutes.  

Implementing Instead of Just Reading

Matt admits that it wasn't an issue of not understanding personal finance that was keeping them in this cycle of debt.

He estimates that at that point he had read over 100 personal finance books!

Those books made no difference until he started implementing them. As they started seeing those wins (some big, some small), they were encouraged to keep pushing on. 

As you read some of the big wins they had, did any jump at you? Remember implementation is the key here. 

I don't expect all of them to apply to you, but you two should be able to track out one or two of them and see how it goes. 

You may not save as much as they did, but you can still have some huge wins under your belt (and extra cash in your wallet). 

If you don't know where to start, my suggestion is to first be very aware of your money. do you two know exactly how much is coming in and going out? 

There are some fantastic apps and more that will help you keep tabs on your money. some of my favorites out there include TillerPersonal Capital, and  Mint.

You can also review the Couple Money Toolkit for more ways you can slash your bills, grow your money, and invest wisely. 

Support the Podcast! 

If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word. If you have friends who could boost their savings, please share this episode with them on social media or just email the link!  
  • Leave a review. Every review helps! Please share your honest feedback on Apple Podcasts or Stitcher
  • Visit our Couple Money Toolkit for more info on available apps, tools, and services to master your money together.
  • Become a Patron. 

Special Thanks! 

The music today was provided by various artists over at Audiio.

This episode was originally released January 2017. Shownotes and podcast have been updated Febraury 2022.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Direct download: 5_Save_More_Than_Half_Your_Income_While_Still_Having_Fun.mp3
Category:personal finance -- posted at: 12:46pm EDT

Want to pay off your mortgage early, but don't know how? Learn how you can find the money so you can own your home free and clear!

Pay Your Mortgage Off Early?

Have you ever wondered how it would feel to be rid of your mortgage payment to own your house free and clear? 

 

Even though we got a really good deal on her place, I would love to not see that huge chunk of money leave our accounts every month.

 

Right now, we’re on a plan to knock out our mortgage early and we’re excited about the process. Of course, this isn’t an overnight thing, so something what’s been motivating and encouraging is listening to others share how it felt to get rid of that debt.

I think that's going to be the frustrating piece for everybody. Who's thinking they're gonna pay off their mortgage early. That there's going to be some big parties,

Guess I’ll just send that payment online and celebrate at home, noted. 

By the way, that’s Steve Stewart. He’s the talented editor behind some of fantastic podcasts like Stacking Benjamins, ChooseFI, and Financial Grownup. 

A few years ago, Steve and his wife went to their lender with cash and paid off their mortgage.

Today, we’re pulling from the archive my chat with Steve about hitting that huge milestone. 

In this episode, we’ll get into:

  • Why Steve and his wife chose to focus on paying off their mortgage
  • Building momentum and payments
  • How you can create a mortgage free plan that fits your goals and budget

Are you ready? Let’s get started! 

Resources to Dump Your Mortgage Faster

If you’re looking to dig in deeper on mortgages, here are some resources to check out:

If you want to chat some more about creating better money habits, questions, or share your own tips please join us over at Thriving Families on Facebook.

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf.

Find out how and get started today!

Direct download: 4_Why_and_How_to_Pay_Your_Mortgage_Off_Early.mp3
Category:personal finance -- posted at: 9:53am EDT

Do you feel frustrated with how slow things are going with your debt free plan?  Maybe you have credit cards, it seems like you’re barely making a dent on them. 

Today we’ll go over ways the two of you can have more wins with your money and knock out your debts! 

Dumping Debt with Popcorn Finance

Do you feel like you're stuck with your finances? Popcorn Finance host Chris shares how he and his wife worked to dump their debt and start saving together!

Nothing is more demotivating than putting a lot of effort into something and not seeing any real results. 

For many families, debt – especially credit cards – can be especially stressful. Judging by some reports, it’s a big financial issue.

Bankrate recently surveyed thousands of Americans and they found that the balance of 42% of U.S. adults with credit card debt have increased since the pandemic started

One huge hurdle is how high the interest rates tend to be with credit cards. Now if you have an excellent credit score 13% while those who have fair credit care looking at an average just under 23%.

It’s almost like being in quicksand unless you're making some significant payments.

This is why I’m happy to share from the archive, my chat with Chris Browning. He’s the creator and host of Popcorn Finance is on the show to share how he and his wife “K’” had to work together to pay off their debts. 

We get into:

  • how they got into $14k of credit card debt
  • the system they use to budget and knock out their debts
  • Handy books to motivate you to become debt free faster

Hope you enjoy!

 
Elle Martinez         
Working Together to Dump Debt and Save with Popcorn Finance           Working Together to Dump Debt and Save with Popcorn Finance          
 
 
 
 
 
 
 
 
 

Resources to Dump Debt and Save Together

Want to make talking about money less stressful? Here are some fantastic resources to motivate and nudge you to debt freedom faster!

If you want to chat some more about creating better money habits, questions, or share your own tips please join us over at Thriving Families on Facebook.

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Do you feel like you're stuck in a rut with your finances? Learn how you can break through and start making progress to dump your debt and start saving together! #marriage #money

Connect with Chris and Popcorn Finances

Chris Browning is the creator and host of the award-winning Popcorn Finance Podcast.

His goal is to break down and discuss finances in the time it takes to make a bag of popcorn.

If you haven't already, give his podcast a listen and subscribe!

Discovering Personal Finance

Elle Martinez: Do you mind sharing your story? I think a lot of people that he had interpersonal finance if they're not advisors or coaches or whatever they start off from a personal space that they had to fix something with their finances. Was that the case with you?

Chris Browning: Yeah. You know for me it was kind of a combination of things because I did go to school for personal finance.

 

I originally was planning on being a financial advisor and found that I didn't really care for the job that I was interviewing for a lot of sales jobs. So I have a little background in finance but for me, it really was getting into a ton of debt that really made me kind of focus and change things around for myself because I mean once we got married we kind of had to cover everything ourselves. And at that point we didn't have any debt but because we didn't really have much in savings. And even though we tried to make the waiting as like you know I guess inexpensive as possible we set it up. I think paying around fourteen thousand dollars for the wedding and ended up all going on credit cards because we didn't have any cash. That's kind of where the debt spiral kind of started and you know you getting a cycle of OK. Why did I make my payments? But then we didn't have anything saved so I kind of just kept perpetuating the growth of our debt. Every year. Things with them like school expenses doctor's visits emergency room stuff. And next thing we know it was like twenty-seven thousand dollars in debt. And that was kind of like the turning point for me for sure where I was like I got to do something about this I've got to get serious.

Elle: Yeah. I think a lot of people can relate to getting into debt and especially with weddings.

I mean at least it's cheaper than the average. I heard that's like $35,000.

Well I'm kind of curious like with your wedding I know there are so many things that are special about it but was there one expense you're like, ‘We knew that we had to have this in our wedding because that was important to us'?

Chris: I'm probably the wrong person to ask. I know I wasn't one of like. Do we have to buy this is this part?

But I would say for sure it was, I think it was the venue we ended up going with. That was a really nice church. And Dana Point California it's kind of like a coastal like southern coastal part of California. OK. And it was up it wasn't extremely expensive. I mean I don't know what expensive it is for your church. I think we ended up paying like twelve hundred dollars. That's a lot of money. I did but I don't know if that's expensive or not. But it was a really beautiful location that was like up on a hill you could see the ocean from there. So that was really nice.

Elle: With weddings, there are so many different ways you can go I know my husband was concerned about food like that was his thing like make sure we have like good food options. I think we ended up having like three on our menu. So nice. Yeah. So you said you realize like at a certain point something had to change. Was that something maybe you started your wife or were you both kind of feeling that at the same time I would say because we've even talked about it before.

Chris: I think I was the most stressed out about it I think because because I did have a background in finance I knew what I should be doing and it was things like you know you shouldn't be doing these things but you're doing them anyways. Yeah. It just it's you can't beat yourself up about it. It was just getting really stressful. I just think about it all the time the fact that you know where these debt payments and they weren't shrinking because we weren't making any progress we were still using credit cards and so forth to pay it off at the same time which isn't an effective strategy at all.

Elle: So did you decide to do like either a debt no more or an avalanche. How did that go for you guys.

Chris: So we had our debt spread out over I think was about three credit cards and I went with the snowball method. I was paying off. I think I would think the right one as you about the lower balances. Yeah yeah. I guess I started with that method to pay off the smaller ones in that way. The minimum payment from that could move over to the bigger cards. And I was actually doing this is this thing where I don't know where and where I heard about this but because we had some higher interest cards I would kind of look around for the longest like zero interest promos credit cards that I would sign up for those and then do a balance transfer and I would say well you know a three or five percent fee to transfer it is better than the 20 percent interest I would pay if I didn't do this. It's got a boy that I like when I used to try to avoid some of the interest charges and kind of keep keep things afloat as we get the debt down to a smaller more manageable amount.

Their System for Handing Money

Elle: That makes sense. That makes it so are you. I'm assuming but I don't want to. Like when you handle your finances are you the one that comes out with the how-to part of the plan when you guys talk about it or do you and your wife go back and forth like she handles some of the bills and you handle others? How do you guys manage your money together?

Chris: I think maybe because I just came into the relationship with more of a budget background. I kind of the I'm the one who takes charge with it at least so I have an excel spreadsheet where I like you know put our budget together and then I'm the one that puts all the data into the apps that we use and then we got a meetup and discuss it that way.

She's more hands-off on the planning side but you know get her input. So you know I'm thinking about doing this. What do you think and it should say yes it's a good idea or no. Or maybe she has some other ideas she has in mind so I make more hands on. But then she provides some of the ideas and the feedback I'm talking about.

Elle: Every couple kind of has their own method to the madness I call it. Do you guys do monthly check-ins or how do you handle monthly budget or do you do it like maybe paycheck or weekly?

Chris: We both get paid bi-weekly so we budgeted a two-week basis so we can lay everything out for the two weeks. It's relatively I guess it's a consistent speech paycheck. We kind of have similar bills. I think for one paycheck of the month we have certain set items we pay in the next paycheck. It's another set or bigger items like our rent or I split it between the two. So we try to keep it fairly consistent but I've been working on looking at it I guess a month to month basis to kind of see it as anything coming up because I've talked to a few people that's kind of what they do they'll look at their month they'll say okay we have a birthday coming up this month or we have this event we're going to go to and they plan it that way which I'm like that's a good idea instead of having like a static budget which is what I kind of do right now.

Elle: We kind of do that with our budget because it seems like I'd say eighty-five percent of our bills are the same. But then there is like next month my cousin's getting married so we have some trip expenses. You know we're gonna be eating out while we're there in Denver seeing some family and so forth. So we're cutting back this month to make sure you know there's a little buffer in there and adjusting as it goes.

I'm always curious about how other people to it. You mentioned apps, do you have any favorite apps?

Chris: we talked a little while ago and you told me you tried to like a ton of apps and I think I'm the same way I like I'm searching for the perfect app and everyone is a little bit different. So it's kind of hard but I think I've always go back to Mint.

That's the one I've been using for probably I don't know eight years but once I started out with what I needed what I was looking for something to put my budget together and track my expenses I found them that they've been good so far. You know there are times where those features I want. But it's a solid platform and it works every time.

So I'm like I don't want to mess with it too much and I haven't found anything that's really been able to replace it for me yet. But that's so far as my favorite one.

Elle: So you've paid off your debt right. And what goals are you working on together as a couple?

Chris: our next biggest goal was establishing an emergency fund because that was always like one of the things I worried about the most was that we didn't really have a ton in savings because so focused on paying down the debt.

And I was always worried like somebody would come up and throw us back into debt. So for sure, that was one of the biggest things for me was putting together we were going with six months of our expenses for our emergency fund.

And so that's the next big thing that we're working on and hoping to have finished up this year.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
Direct download: 3_How_Get_Out_of_Your_Rut_and_Become_Debt_Free_Together.mp3
Category:personal finance -- posted at: 1:45pm EDT

Feeling trapped at a job because you're dealing with debt? Find out how you can pay off your debt faster. Whitney Hansen shares how she eliminated $30,000 in less than a year! 

Feeling trapped at a job because you're dealing with debt? Find out how you can pay off your debt faster. Whitney Hansen shares how she eliminated $30,000 in less than a year! 

So financial independence in the truest sense is for me when you are officially at a point where you don't have to work anymore, you're officially retired if you so choose.

But the goal of that is, is that you can start to have a lifestyle that kind of mimics financial independence earlier on.

If you're very careful and you are paying off debt and you're intentional with your spending, and if you're not letting it get out of control, I think you can actually live some of those benefits sooner.

And so that's kind of what I what I believe is that you can have this really cool life if you are willing to do the hard work.

Now, you can actually have that life sooner than 65 years old.

Whitney Hansen

Paying Off Debt Faster

I've been noticing a shift lately when the topic of money and paying off debt comes up.

I hear from friends, family, neighbors and work buddies is this idea of having more options.

It's not about a specific amount in the bank or retiring by a certain date.

It's about being drawn to financial freedom because people to want to be stuck at a career they don't like or in a situation because they are just overwhelmed with debt.

My guest today, Whitney Hanson, knows all about that desire to have more options and less debt.

My guest today, Whitney Hansen, knows all about that desire to have more options and less debt.

Today we'll get into:

  • why motivated her to fast track paying off her student loans
  • how she was able to get rid of $30,000 in less than a year
  • what first steps she suggests if you want to be debt-free sooner than later

Hope you enjoy!

[smart_track_player url="http://traffic.libsyn.com/couplemoney/More_Options_Less_Debt_Paying_off_30k_in_10_Months.mp3" ]

Want to hear more from Whitney? Connect through her awesome podcast The Money Nerds, Twitter, and Instagram! 

Resources to Help You Dump Debt and Start Building Wealth

Tired of being in debt? Here are some resources to help you dump it and start saving more!

If you want to chat some more about creating better money habits, questions, or share your own tips please join us over at Thriving Families on Facebook.

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Direct download: 2_More_Options_When_Debt_Free.mp3
Category:personal finance -- posted at: 1:32pm EDT

Looking to dump your debt faster? See how you can find a community to support you on your debt free journey!

The Power of Community with Dumping Your Debt Faster

This month is all about paying off debts. Instead of talking about debt snowballs and avalanches, apps or sites, we're going to look at the community; specifically the support network you may or may not have and how it can affect your success. 

Toni Husbands is joining us today. She’s the creator of debt free divas and author of the book, The Great Debt Dump: Running Toward Financial Freedom with the Power of Community.

Besides knowing the stats and studies about getting out of debt. Toni has personal experience with becoming debt free.

If her voice sounds familiar it's because Toni was on the podcast before when she shared her family’s story of dumping six figures of debt. She had an added challenge because her husband Colin wasn’t on board at first.

So if you're in a similar boat, I think you’ll enjoy this conversation where Toni discusses how to find and build up a community to support one another with dumping debt!

Resources to Dump Your Debt Faster

Tired of being in debt? Here are some resources to help you dump it.

If you want to chat some more about creating better money habits, questions, or share your own tips please join us over at Thriving Families on Facebook.

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Rollover Your 401(k) Easily with Capitalize

We’re grateful for wonderful partners like Capitalize. Not only do they support the podcast, but they help make managing your money so much easier. 

Did you know that it’s estimated that there are currently over 24 million “forgotten” 401(k) accounts? In fact, the average American changes jobs every 4 years

 

And because of the Great Resignation, you or someone you know might be changing jobs even more 

It’s an extreme case of out of sight and out of mind. Is your old 401(k) in there somewhere, left behind at a job you're no longer with?

One huge benefit with an IRA is you get to choose how your money is invested, not your old employer. 

If you want to consolidate your old 401(k) and have more options with how you invest, it may be time to roll them over into an IRA.  

With Capitalize, they handle the process from start-to-finish – for FREE. They handle the process from start-to-finish, and yes that includes calling the 401(k) provider on your behalf. 

Find out how and get started today

Key Takeaways

Before we wrap up, I want to share a few takeaways from the discussion with Toni, I think would be really helpful for your own debt free journey. 

  • Accountability can be a huge boost.
  • Develop systems and habits to help you overcome those tough times. 
  • Short term goals can build momentum and motivation.

Of course there's so much more that we can get into, including the ins and outs about finding the best methods of paying off your debt. So, if you want to get the latest episodes, tips, and videos to help you pay off your debts faster, save more. And invest better.

Please sign up over at couple money slash join to be a part of our VIP community. It's free and you'll get weekly emails sent to your inbox with all that information sent to you for your convenience.

I want this year to be an incredible year for you and your family!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money

Music and Photo Credits

Music in this episode was provided by artists from Audiio. Photo by Helena Lopes from Pexels

Direct download: 1_Dump_Debt_Faster_Through_the_Power_of_Community.mp3
Category:personal finance -- posted at: 6:04pm EDT

In today’s bonus episode, we’re diving into hitting your money goals while still having fun! 

Ready to Stack Some Benjamins in 2022? 

Welcome to this end of year bonus episode! 

As we’re winding down and wrapping things up for 2021, one of the best things we can do is setting things up to make it easier to achieve our family and financial goals.

For us, it’s doing a review of the numbers to see what’s worked and what’s not. We’re also spending time now deciding on what we really want to do in 2022 while of course keeping some flexibility because COVID is still a thing.

 

A big challenge many families face is creating and sticking with a plan that allows them to pay down their debts, save for priorities, and invest more. 

Today’s episode has something that I think will be a huge help. 

I had the pleasure of chatting with Joe Saul-Sehy of the award winning Stacking Benjamins and personal finance author Emily Guy Birken about their new book, Stacked: Your Serious Guide to Modern Money Management

Which is a mouthful of a title, but I got to tell you, the thing that jumped out at me about the book was how fun it was to read!

Joe and Emily do an incredible job not just explaining key financial points, but they weave it in with game references (Oregon Trail, Tetris, and Monopoly are included in the first few chapters), but they have inside jokes, comics, and more. 

It’s all about making personal finance accessible and well, not boring. 

So if you’re looking for a reset, reboot, whatever you want to call it, I think you'll enjoy our conversation! 

Stacked Giveaway

To celebrate having an incredible 2022 and the release of Joe and Emily's book, we're hosting a giveaway!

I'll be doing a random drawing to reimburse 5 listeners who pre-order Stacked as well as give them Amazon gift cards!

Just enter here!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

Music Credit

Music in this episode was provided by artists from Audiio.

Direct download: CM_EOY_Bonus_Episode_Stacking_Benjamins_in_2022.mp3
Category:personal finance -- posted at: 11:15am EDT

Today we’ll go over key steps on how to make and achieve your big family financial goals for next year! 

How to Set Up (And Achieve) Your Family’s Financial Goals

As 2021 winds down, now is a great time to set up some pieces with your finances so you can knock things out of the ballpark in 2022. 

 

Last week I went into how we’ve done year end reviews. They’ve been a wonderful way for us to get a snapshot of the progress we made and identify areas where we may want to adjust. 

 

Most of the numbers reviewed are automated. There are some fantastic options out there like Personal Capital, Mint, Tiller, and You Need a Budget that can pull the numbers from your accounts into one neat dashboard. 

 

However a year end review is just that - a review. If we want to level up for the next year, we have to have some blueprint or plan. 

 

Here’s where it’s key for us to create our family financial goals. They give us a guide on how to allocate or prioritize our money for the year. 

 

Today I want to walk you through some critical parts of that process so you can craft a game plan for next year and beyond. 

 

In this episode, we’re going to look at how you can tackle some major hurdles families have with creating and reaching their financial goals. We’ll discuss:

  • Creating better family and financial goals by taking the three most popular money goals families set and turning them into SMART goals
  • Crafting a plan so you develop key habits that make it easier to hit your goals
  • Finding time to adopt these new habits and systems

Are you ready? Let’s get started! 

Resources to Build Up Your Family Finances Together

Direct download: CM_Bonus_Creating_Smart_Family_and_financial_Goals.mp3
Category:personal finance -- posted at: 1:40pm EDT

Get a peek into how we did with our goals for this year and see how you can do your year review and set yourself up for an incredible 2022!

Why You Need to Do a Year-End Review with Your Money

It's November, aka the time of the year where I usually start winding down. 

As you may or may not know, I take December off from the podcast to recharge and rest things. We also have our anniversary then.

With those things in mind, these last two episodes of the season are focused on helping you set things up for a fantastic year in 2022 and beyond.

Besides our monthly money review, one of the things we do is a year end review. It’s a way for us to review the numbers, celebrate wins, and see what we need to work on. 

We then take that information and use it to plan out the next year. 

Today I want to walk you through the process. We’ll go through our goals we made for the year, finding the money to reach them, and whether we’re on track with them or not.

 

Next week, we’ll then look at how to create goals in a way so you can make progress. 

Are you ready? Let’s get started!

Resources to Build Up Your Family Finances Together

Thank You to Our Sponsor Coastal!

thanks to our podcast sponsor Coastal Credit Union. If you want to live better, you have to bank better!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

Find out more about what Coastal offers here!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Today we’re going to look at three common and awkward arguments married couples have around money  and how you can tackle them together! 

Awkward Money Conversations When You’re Married

Marriage and money isn’t always easy. Chances are the two of you have different personalities and approaches to finances. 

Those differences can be a wonderful thing as you two can lean on each other’s strengths and shore up weaknesses. 

But finding your financial footing as a couple is not automatic. If you don’t have some way to work on it, it can hurt your marriage and money. 

One of the first things to realize about why couples fight or argue over money is how frequently it’s actually NOT about the money. Seriously. 

From personal experience, writing and speaking about this for over a decade, the most common reason couples fight about money is that they are not in sync with each other in either their expectations, values, or priorities. Usually it’s a combo of them. 

While you two aren't always going to see eye to eye on everything – again those differences can be fantastic- there are some ways you can work as a team and use those differences to your advantage

Today we’re going to talk about how you can use that knowledge to untangle some awkward money conversations that can come when you’re married. 

In this episode we’ll get into questions like:

  • figuring out what counts as a big purchase
  • whether to loan money to family
  • coming clean about debts

Resources to Build Up Your Family Finances Together

Thank You to Our Sponsor Coastal!

thanks to our podcast sponsor Coastal Credit Union. If you want to live better, you have to bank better!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

Find out more about what Coastal offers here!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

How happy are you with your current banking situation? Are you getting real value out of your checking and savings accounts? Or do you feel like you’re getting nickeled and dimed? 

Today we’ll go over how to find a better banking option and how to seamlessly move your money! 

Why It Matters Where You Bank

These are all important to your financial health and making progress on your goals, however we left the biggest piece of the puzzle last – your day to day bank accounts. 

Your check and savings accounts are the backbone to your family’s financial system, but for most of us, it's almost like an afterthought.

Much of this goes back to how we chose our accounts in the first place.

For my husband and I, with our first accounts, it was based on who we were already banking with. And at the time we had bank accounts with two of the major banks, we had opened student checking accounts.

When I say they were basic accounts, that's exactly what they were.

Honestly, we just settled with it for way too long. After getting frustrated with the horrible customer service, ridiculous fees. And not seeing any real progress with our financial goals. We decided it was time to change.

We moved our money to an online bank and credit union and i have to say we are so much happier for it.

We feel that our banking partners are actually partners that they're helping us reach our financial goals faster. And make our lives easier with managing our money.

So if you feel that way about your bank or credit union, fantastic.

However, there are plenty of families that feel like they're banking options are hurting them rather than helping.

According to a recent Magnify Money survey, 68% of consumers are frustrated and feel like their savings isn’t growing. When you consider that 18% of those said they get less than .05% APY, it’s understandable.

What makes it worse are those minimum balances and fees added on their accounts. 

Bankrate reported that the average maintenance fee on a checking account that earns interest totaled $196.20/year

So if you’re feeling squeezed, you probably are. That doesn’t have to be the case though. 

With 2021 winding down, now is a great time to set the pieces up for you to have an incredible year in 2022.

In this episode, we’ll go over: 

  • What to look for in your next bank or credit union
  • How to move your money and switch accounts (and deal with a reluctant spouse)
  • How to set up your new accounts for your best year ever

Are you ready? 

Let’s get started! 

Resources to Easily Manage Your Money

Thank You to Our Sponsor Coastal!

thanks to our podcast sponsor Coastal Credit Union. If you want to live better, you have to bank better!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

Did you know that Coastal offers a Health Savings Account? If you have a high deductible health plan, you need to take advantage of an HSA.

Find out more about what Coastal offers here!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Photo by Adrien Olichon from Pexels

Direct download: SEP_S3E27_Better_Banking_How_to_Move_Your_Money.mp3
Category:personal finance -- posted at: 1:40pm EDT

Get a sneak peek at how we handle our money system and our accounts. So that we are working towards our goals, even if we have more pressing or urgent things to take care of on the family front or with work!

Easy Way to Manage Your Money

A financial system that requires you to constantly check and worry about your money isn’t going to cut it for most families. It doesn't for us. 

With two kids, work, hobbies, and friends, we have a full life and we love it. Quite simply we see money as a tool, not the goal. It’s to help us to care of our kids and lother loved ones, 

So while I respect those highly detailed spreadsheets with line by line breakdowns of every cent, I save that for quarterly reviews. Instead, budget monthly and do weekly checks on Fridays that usually are five minutes just to make sure everything is running smoothly. 

It took some time, but we’re grateful to have a financial system that allows us to focus on the big stuff. We love even more considering these past 18 months. 

If you’re looking to make managing your money much easier, while still hitting your family’s financial goals, this is your episode. 

Today, we’re discussing:

  • Quick overview of how our financial goals and system shifted to fit the season of life we’re in
  • What principles give the framework to our financial system so we can hit our goals
  • How to keep lifestyle inflation in check while still enjoying some fun

Are you ready? Let’s get started! 

Resources to Easily Manage Your Money

Thank You to Our Sponsor Coastal!

thanks to our podcast sponsor Coastal Credit Union. If you want to live better, you have to bank better!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

Did you know that Coastal offers a Health Savings Account? If you have a high deductible health plan, you need to take advantage of an HSA.

Find out more about what Coastal offers here!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
Direct download: SEP_S3E26_How_to_Easy_Manage_Your_Familys_Financial_System.mp3
Category:personal finance -- posted at: 9:51pm EDT

For most couples, their 401(k)s are an important part of their retirement plans. Learn how you can avoid making big mistakes and make the most out of your 401(k)!

Making the Most of Your 401(k)

It's just there's a huge information overload and it's easy to get caught in the mess and not be sure how to actually do it.

Today we're going to give you a leg up.

Usually during this time of year, I pull in the experts like certified financial planners where we dive into the nitty gritty details of the different benefits and options that may be available. 

I’m grateful for those experts who took the time to share some of their knowledge and will have those episodes up on the homepage so you can listen to them because much of it is still incredibly helpful. 

Today, I’m doing what I did last week, which is to go over those FAQs that typically come up. Again, these questions are the ones I see on my side, from discussing through the newsletter, in the Facebook group  Thriving Families, or those Google searches. 

In this episode we’re discussing:

  • The biggest mistakes couples make with their 401(k)s
  • Figuring out how much you need to contribute
  • What to do with your 401(k) at your old job

Are you ready? Let’s get started!

Resources for Smarter Investing

If you want to learn more about investing and staying on top of your money, here are some resources to check out:

Thank You to Our Sponsor Coastal!

thanks to our podcast sponsor Coastal Credit Union. If you want to live better, you have to bank better!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

Did you know that Coastal offers a Health Savings Account? If you have a high deductible health plan, you need to take advantage of an HSA.

Find out more about what Coastal offers here!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
Direct download: SEP_S3E25_401k_Tips_for_Busy_Families.mp3
Category:personal finance -- posted at: 9:18am EDT

It's that time again... open enrollment season and with it, a lot of decisions to make for the upcoming year. Today, we're going to go over how you can maximize your benefits, especially when it comes to health, dental, and disability insurance!

Choosing Your Health Insurance, Dental, and Disability

If there's one area of finances where families have a hard time -either they're not maximizing or they misunderstand it- it's open enrollment season. It's that time of year where HR sends you a packet of information about your benefits.

One of the big things that I want families to focus on- especially busy ones- is going for the big wins.

Yes. It is beneficial to get better financial habits and cutting those unnecessary expenses, maybe five or $10 here and using that money towards more impactful family and financial goals.

But going for the big wins means that for a little bit of time and effort, you can have reoccurring winds or see a significant drop in your expenses or increase your savings. This is where open enrollment fits in.

For this limited window that you get this information, you're going to be making some significant financial decisions for the upcoming year. The biggest one for most families, health insurance. What makes us extra challenging is we're doing this in the midst of still dealing with COVID.

All this week and next, I want to make things easier for you so that you can focus on the key discussions you need to have so you can make the best choices for your family's particular needs.

I'll be releasing on the site previous episodes where I've talked with certified financial planners about the ins and outs and details about your options.

Today we're going to focus more on a Q and a style approach. Based on your feedback, along with what I'm seeing on my side with Google search in the community chat, I'm going to go over those questions that families often have as they're sorting through the paperwork.

Our focus today will be on:

  • weighing the pros and cons of health insurance plans
  • why disability insurance doesn't get the credit it deserves
  • how tax advantage accounts like HSAs and FSAs can help you save a significant amount of money

Are you ready?

Let's get started!

Resources to Save serious Money

Are you looking for more help with maximizing your benefits and saving more money? Here are some resources:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

Did you know that Coastal offers a Health Savings Account? If you have a high deductible health plan, you need to take advantage of an HSA.

Find out more about what Coastal offers here!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

How are you feeling about your progress this year with your financial goals? Are you frustrated because you're not hitting them as fast as you had hoped? Do you feel like managing money is a chore? Believe it or not, these problems are connected.

Today, I'm going to break down and show you how to build a flexible financial system that will get you to your goals faster!

Keeping Your Budget Flexible and Fun

Recently I had a chat with rich Jones for the  Paychecks and Balances Podcast.

The theme of our discussion was managing finances when undergoing a life transition, but it quickly widen out and scope. After my chat with Rich, our discussion stuck with me.

Having written about personal finance for 12 years and podcasting, a little over half that time, I noticed a certain rhythm with people in their interests and finances.

Beginning of the year, it's all about setting up these big goals, paying off debt, saving up for a huge house down payment.

For some, it truly is the beginning of an awesome year. They get these new habits set up. They have their systems in place.

Others though, they're already having a hard time keeping up those habits, part of it is life shifts.

Between January and to about April when I look on my side of things with site traffic, And Google searches, that's when people are most interested in their finances.

Further into the year, no matter what camp you're in the seasons change and life rolls on.

With September zooming by and the last quarter coming up. I find it's another point in the year where we reflect. We have this many awareness that the year's wrapping up. We're reviewing how much we've accomplished.

Now on top of the regular seasonal changes in the year. We still have the COVID pandemic that we're dealing with.

Rather than fight the seasonal shifts or craft these perfect on paper budgets, but they fall apart during real life pivots, we have to address a fundamental issue -building a sustainable and flexible system for handling your finances so that you can live your life and if something happens adjust as needed.

Instead of chasing money as the target or the goal really should be using it as a tool.

In this episode, we're going to break that down so that you can create a financial system that is easy to maintain and adjust and have a sustainable budget that's flexible and fun.

Are you ready? Let's get started!

Handy Tools to Build Your Financial System Quickly and Easily

Thank You to Our Sponsor Coastal!

thanks to our podcast sponsor Coastal Credit Union. If you want to live better, you have to bank better!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

They have wonderful customer service along with competitive rates to make saving easier!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
Direct download: SEP_S3E23_Gow_to_Create_a_Fun_and_Flexible_Financial_System.mp3
Category:personal finance -- posted at: 7:15am EDT

Are you frustrated with your debt and feel like you’re stuck in this rut? Today we’re going to see how you can negotiate your debts to lessen the stress and get you closer to your debt free goals! 

Dealing with Debt Collectors

Paying off debt is usually one of the top three goals people make for the year, but struggle to achieve.

Depending on where the pandemic caught you on your financial journey, you may have had an extra harder struggle. Perhaps a drop in income meant slowing down or even pausing your debt pay off plan. 

That can be a real burden on a marriage because those balances are lingering, or worse growing. 

If it makes you feel better, you’re not alone. Debt is weighing down a lot of families. 

According to Experian, 90% of adults in the US have at least one credit card on their report, and of those, 75% carry a balance month to month. The average balance for that group is $5,315.

Then consider that the average balance on a car loan is $19,703. Then you have student loans. In 2020, the average balance was $38,792. While there is some relief for federal loans with the pause in payments, if you have private loans, you’re still dealing with them on top of everything. 

Hopefully things have improved, but you’re not trying to figure out how to jump back in, which debts to tackle first, what payment makes the most sense. 

Which is why I’m happy to have attorney Taylor Kosla be a part of this episode. Taylor is a partner at Agruss Law Firm, a team that’s focused on helping people deal with debt collection. 

In this episode we’ll look at:

  • Ways to work with and negotiate with your debt collectors
  • Protections available to you through the Fair Debt Collections Act
  • How you can get have an attorney assist without you paying out of pocket

Are you ready?

Let’s get started! 

Resources to Dump Your Debt Faster

If you’re looking to create a debt free plan that fits your family, budget, and timeline here are some helpful resources to review. 

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
 

 

Direct download: SEP_S3E22_How_to_Negotiate_with_Debt_Collectors.mp3
Category:personal finance -- posted at: 7:15am EDT

Today we’ll go over how you can set up your finances so you’ll have more options and time for the things people and projects you love!  

Pursuing Financial Independence on Your Terms

As a kid one of my favorite genres of books to read was those choose your own adventure stories. Remember those?

You always began the same, but based on the choices you made, you could find buried treasure. Or your plane crashes. (Wait, not sure that was a thing in a kids book. Anyways…)

Fast forward and now my absolute favorite type of video games to play are RPGs. Why?

Because you have room to craft out your own adventures.

Guess some things don't change.

What does this have to do with financial independence? Glad you asked!

I feel like financial independence is just like those books and games – you decide on how you're going to go through it.

You have flexibility to make it fit you and your family.

But it doesn't always feel that way.

There's this narrative that gets pushed that there's a certain way to FI. Specifically as fast as possible.

If you've been turned off by that segment of FI or you want to have more flexibility with your plan, I think you'll enjoy today's episode.

 

And to help me out is Diania Merriam. She's the founder of EconMe who knows firsthand the joys of and challenges of carving out your own FI path.

In this episode, we're jumping into:

  • how Diania paid off $30k of debt and jump started her FI path
  • how FI opened up options and allowed her to take risks
  • how you can create a plan that fits your and your family

Are you ready? Let's get started!

Resources to Craft Your FI Path

If you're looking to get ahead with your finances as a family, here are some resources to check out!

Want to be a part of EconMe this year? Sign up for your ticket!

Because you're a listener, Diania was kind enough to pass on a discount code. Type in SIMPLIFYENJOY to save 10% on your ticket!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

They have wonderful services and accounts to make saving easier including their competitive money market accounts!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music by various Artists from Audiio

Photos by Elizabeth Zernetska and Dio Hasbi Saniskoro from Pexels

Direct download: SEP_S3E20_Choose_Your_Own_FI_Adventure_with_Diania_of_EconoMe.mp3
Category:personal finance -- posted at: 5:30am EDT

Can parents pursue financial independence with kids at home? Today we’ll go over the five biggest myths and show how to enjoy parenthood and FI!

Are Financial Independence and Parenthood Compatible?

Even before we were familiar with the term financial independence, we were intrigued about this idea of gaining flexibility and freedom.

When we were first married, we had two immediate financial goals – getting rid of the car loan and building our emergency fund.

Our car payment wasn’t a huge burden, but seeing that money going out month after month..ugh..

Not having that weighing our budget down was one benefit, but then there was also this what if.

What if we used that money for things we actually enjoyed and really wanted – travel, a house, or starting a business?

So I started digging into personal finance blogs and found books like Total Money Makeover, Automatic Millionaire, and The Money Book for the Young, Fabulous & Broke.

Taking what I learned, we came up with a plan to pay off our debts and grow our financial cushion.

Don’t get me wrong, seeing our net worth go from negative $30,000 to the positive side felt great. The real pull for us, though, was not how much money we can stash away or how fast we can hit.

We loved being in a position of having options. Like leaving a bad job. Becoming an entrepreneur.

During this time, we discovered financial independence, with that classic book – Your Money or Your Life.

There are some wonderful benefits with discovering the FI community. Many in the space love swapping ideas about what’s worked for them.

Hopefully like you’re doing now, we listened to stories and picked a few ideas to try out. Some worked really well, some needed to be adjusted for our circumstances, and some didn’t work. Either our situation was too different or honestly, we didn’t enjoy it.

The ones that didn’t resonate with us usually came from this segment in the community who had very specific ideas about financial independence.

Both with what it was and what it wasn’t. One complaint I kept seeing was how hard or in some cases impossible for parents to hit FI.

I believe that belief is not just discouraging to parents, but really misses the actual resource financial independence is about – time.

 

Finances are the tool to help you get there, not the goal. We were more focused on quality of life and having options.

So today I want to wrap up this series of episodes before our summer break and discuss how you as a parent can work towards your FI goals while enjoying the journey with your kids.

In this episode, we’ll get into the five biggest myths around financial independence and parenthood.

Are you ready?

Get Your Free Love & Money Guide
Learn the ice breakers and conversation starters to make talking about money easier! 
Featured Image
 

Let’s get started!

Resources for Parents to Pursue Financial Independence

If you're looking to get ahead with your finances as a family, here are some resources to check out!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

They have wonderful services and accounts to make saving easier including their competitive money market accounts!

Slash Your Phone Bill with Republic Wireless!

If you’re looking to hit your family’s financial goals faster, optimizing your expenses is the way to go. Chances are you’re paying too much for your smartphone and not getting the value you deserve.  

Same thing happened to me years ago. Wanting to become debt free faster, I switched to Republic Wireless and saved big time. 

Nationwide coverage, fantastic phone options like the Samsung Galaxy and Moto g, plus seriously affordable prices (plans start at $15/month!) make it a smart choice for families looking to save without sacrificing value. 

See all they have to offer at Republic Wireless

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

 
Direct download: SEP_S3E20_Enjoying_Financial_Independence_and_Parenthood.mp3
Category:personal finance -- posted at: 9:36pm EDT

Real estate investing can be a way to build up a passive income, but is it the right move for you? Learn about some of the different options you have and what you need to discuss before jumping in!  

Is Real Estate Investing Right for Us? 

We've been talking a lot this season about building and diversifying your income streams. 

Part of it is in reaction to the past year or so we’ve had. With some industries being hit hard with job losses and hours cut, having another source of income – even if not full-time- can soften the blow. 

We spoke about working from home with Modern Frugality creator Jen Smith. We also talked about entrepreneurship and building a portfolio of income streams with author Michelle Jackson.

Today we’re talking about another opportunity to build an income stream – real estate investing.

If you’ve ever watched shows on HGTV or followed DIY influencers on social media, it looks fun and exciting, right? 

These transformations can be dramatic and then when they go ahead and sell those houses, sometimes those numbers look tempting. Or the idea of owning properties and having rental income looks like a passive way to earn more. 

But is that really the case? What does real estate investing really involve? How can we get started? How can we be smarter with how we invest? 

I’m happy that Rachel Richards is joining this episode. She’s an author and real estate investor with over 30 properties. With the income their properties are generating, she and her husband are able to be financially free. 

In this episode we get into:

  • different ways to invest in real estate
  • Understanding what’s really involved with investing and finding properties
  • A peek of how one couple got into investing and how they grew it 

Are you ready? 

Let’s get started! 

Resources on Real Estate Investing

Are you thinking about getting started with real estate investing? Here are some handy resources to get your finances in shape and learn more about it!

Key Takeaways

Before we wrap up, I want to share a few key takeaways I got from speaking with Rachel and preparing this episode.

  • Find a way to diversify your income streams. 
  • Research and discuss how active or passive you want to be with real estate investing. How does it fit in your big picture and financial plan?
  • Run the numbers. You have to be really objective with real estate. What down payment can you afford? What cashflow do you expect (and need)? 

We really just scratched the surface today so if you want to discuss this more – ask questions, swap ideas, and talk about your progress for the year– don’t forget to join us in the Thriving Families group on Facebook.

We’re all about helping one another out with our family and financial goals. 

Hope to see you there!

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

They have wonderful services and accounts to make saving easier including their competitive money market accounts!

Slash Your Phone Bill with Republic Wireless!

I'm so happy to announce our new sponsor Republic Wireless.

If you’re looking to hit your family’s financial goals faster, optimizing your expenses is the way to go. Chances are you’re paying too much for your smartphone and not getting the value you deserve.  

Same thing happened to me years ago. Wanting to become debt free faster, I switched to Republic Wireless and saved big time. 

Nationwide coverage, fantastic phone options like the Samsung Galaxy and Moto g, plus seriously affordable prices (plans start at $15/month!) make it a smart choice for families looking to save without sacrificing value. 

See all they have to offer at Republic Wireless

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

 
Direct download: SEP_S3E18_Real_Estate_Investing.mp3
Category:personal finance -- posted at: 9:57am EDT

It's June. The year is halfway over. Now is the perfect time to hit pause and do a midyear review to see how you're progressing with your goals and make sure that your accounts are moving in the right direction!

Why Financial Reviews Matter

While we automate much of our finances, especially the tedious parts. It really does pay to have these times where you sit down. In review the numbers. And having a financial checkup mid year is a fantastic opportunity. Not just to look at your day to day accounts, like your checking and savings but your investments.

Having these more in-depth conversations. Can be beneficial to both your marriage and finances.

For us, this is an opportunity to hit pause and to really sit down and talk.

I don't know how this year has gone for you but it really has flown by for us. In overall, it has been good, but that doesn't mean there hasn't been some struggles and challenges that we face.

Second, it gives us a chance to talk about what's been working and what's not working with our family finances.

Life comes up and maybe we had to shift some things for a month or two. This is a pause where we can see. Is this a trend that we should start planning for, or is this. A one-time deal? Knowing that ahead of time can relieve the stress going forward.

Finally, it's a great reminder to reflect on the big picture. What are we really working towards and how are we aligned towards that? And yes, it does involve looking at the finances, but also schedule wise work choices that we make. Time with the girls, all these things are connected to each other.

Having a set period where we can reflect on that big picture is a huge help.

This past year and a half can be especially challenging for families as we are navigating through this unprecedented time.

Which is why I'm glad Kevin Matthews is a part of this episode. He's a former financial advisor and a number one bestselling author. He just had a new book from Burning the Blueprint that's out that you should definitely grab.

Today, we're going to be talking about that connection between your family and financial goals and making sure that your investments are moving in the right direction.

In this episode, we'll get into:

 Community & Get Your Free Money Toolkit!
Quickly & easily set your money up to hit your goals faster!
Featured Image
 
  • why investing matters and how you can come up with a plan that reflects your goals
  • how to do a financial review for your investments?
  • making sure that they're aligned with your priorities and goals.

Are you ready? Let's get started!

Resources to Stay on Top of Your Money 

If you’re looking to build up your finances, here are some handy resources we mentioned in the episode plus more! 

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

They have wonderful services and accounts to make saving easier including their competitive money market accounts!

Slash Your Phone Bill with Republic Wireless!

I'm so happy to announce our new sponsor Republic Wireless.

If you’re looking to hit your family’s financial goals faster, optimizing your expenses is the way to go. Chances are you’re paying too much for your smartphone and not getting the value you deserve.  

Same thing happened to me years ago. Wanting to become debt free faster, I switched to Republic Wireless and saved big time. 

Nationwide coverage, fantastic phone options like the Samsung Galaxy and Moto g, plus seriously affordable prices (plans start at $15/month!) make it a smart choice for families looking to save without sacrificing value. 

See all they have to offer at Republic Wireless

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

 
Direct download: SEP_S3E17_MidYear_Financial_Review.mp3
Category:personal finance -- posted at: 11:38am EDT

Cryptocurrency is part of the mainstream conversation and in the news, but should it be a part of your investment plan?

We decode the terminology and go over the difference between speculation and investments. 

Should We Invest in Cryptocurrency?

We’re talking about a topic that’s been popping up all over – cryptocurrency. 

Just this year alone, Bitcoin, Ethereum, and others are on a roller coaster ride.

Coinbase went public just this April. 

I’ve gotten questions first about exactly how these currencies work and second, if it’s something to invest in.

In some cases, one of you is all excited to jump in this new opportunity while the other is skeptical or against it. 

Like any major decision, it’s important for your marriage and money to discuss your options and see if it fits in with your goals and financial plan. 

In this episode, we get into: 

  • the essentials about blockchain technology, NFTs, and some of the biggest currency
  • Why you should 
  • what to consider as you two discuss whether crypto currency is right for you

We got plenty to cover so let’s get started!

Resources to Learn More About Cryptocurrencies and Keep Tabs on Your Money

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

 

We’ve been Coastal members for a few years have been happy with their services.

They have wonderful services and accounts to make saving easier including their competitive money market accounts!

Slash Your Phone Bill with Republic Wireless!

I'm so happy to announce our new sponsor Republic Wireless.

If you’re looking to hit your family’s financial goals faster, optimizing your expenses is the way to go. Chances are you’re paying too much for your smartphone and not getting the value you deserve.  

Same thing happened to me years ago. Wanting to become debt free faster, I switched to Republic Wireless and saved big time. 

Nationwide coverage, fantastic phone options like the Samsung Galaxy and Moto g, plus seriously affordable prices (plans start at $15/month!) make it a smart choice for families looking to save without sacrificing value. 

See all they have to offer at Republic Wireless

Get Your Free Love & Money Guide
Learn the ice breakers and conversation starters to make talking about money easier! 
Featured Image
 

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

Key Takeaways on Crypto

Before we wrap up, I want to share a few key takeaways I got from preparing this episode.

  • Invest in educating yourself about the tech behind cryptocurrency. Crypto, blockchain – these aren’t going away. 
  • Make sure that crypto is aligned with your goals and risk tolerance before jumpin in. 
  • Focus on investing, not speculation. There’s a lot of hype and volatility to sort through so 

If you want to discuss this more – ask questions, swap ideas, and maybe discover your strategy– don’t forget to join us in the Thriving Families group on Facebook.

We’re all about helping one another out with our family and financial goals. 

Hope to see you there!

Direct download: SEP_S3E16_Should_We_Invest_in_Cryptocurrency.mp3
Category:personal finance -- posted at: 2:52pm EDT

Learn how you can protect your family’s finances and open up more opportunities by diversifying your income! 

Why You Need to Diversify Your Income

Diversifying income is something every family should consider. It can not only give you a bigger safety net, but it does give you some more options no matter what stage you are in your financial journey. 

Here are a few scenarios where diversifying and increasing your income can be helpful.

We're still not out of the woods when it comes to the financial impact of COVID.

In April, 9.4 million people reported that they were unable to work because their employer either close or lost business due to this pandemic.

As you can probably guess the more income you get, the higher your chances of saving.

In 2019, the median bank account balance for American households was 5,300. What's interesting is when you break it down by income, how drastically that changes.

For a family that's in the 40 to 59 percentile of income, the median savings was 4,400. You moved to the next bracket, 60 to 79%. You're looking at 10,000. The next one 20,000 and then finally 69,000.

Having income to take care of essentials means you can then take that so-called extra income and put it towards financial goals, including savings.

Finally, if your family is on the financial independence path. Then increasing your savings rate can speed things up for you when you'll hit your FII number.

For example, if your savings rate is 15% then you have 43 working years until you retire. If you bump that up to 30%, then that drops down to 28. You move up to 45% and it becomes 19 years. You're literally buying back your time when you're increasing your savings rate.

So hopefully it’s clear why you need to diversify your income. The question is now about finding the right ones for your family. 

Side hustles are a popular recommendation, especially online, but they're not your only option.

Which is why I’m so happy to have Michelle Jackson on today. She’s an author, podcaster, and entrepreneur.

 

Not only has she developed these business and income streams, but she’s found a bit of balance with juggling them. 

In this episode, we get into:

  • different types of income you can earn
  • Pros and the cons of them
  • how to decide which income path is right for you

Let’s get started!

Resources to Build Up Your Income

If you’re looking to boost your income, here are some helpful resources to earn more money and manage it better! 

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

They have wonderful services and accounts to make saving easier including their competitive money market accounts!

Slash Your Phone Bill with Republic Wireless!

I'm so happy to announce our new sponsor Republic Wireless.

If you’re looking to hit your family’s financial goals faster, optimizing your expenses is the way to go. Chances are you’re paying too much for your smartphone and not getting the value you deserve.  

Same thing happened to me years ago. Wanting to become debt free faster, I switched to Republic Wireless and saved big time. 

Nationwide coverage, fantastic phone options like the Samsung Galaxy and Moto g, plus seriously affordable prices (plans start at $15/month!) make it a smart choice for families looking to save without sacrificing value. 

See all they have to offer at Republic Wireless

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

 
Direct download: SEP_S3_E15_How_to_Build_and_Diversify_Your_Income.mp3
Category:personal finance -- posted at: 11:17am EDT

We're all looking to reconnect and have fun this summer.

Today, we're going to go over ways to enjoy family barbecues, give some ideas on great outdoor ventures you can go on, and offer tips on how to grow your savings this season!

Make This a Fun Summer of Savings

For many families, summer is the season. Especially after the year we had in 2020, many of us are eager to embrace the warmer weather and be outside and go on vacation.

As we mentioned last week, it's possible to have fun and still save.

Today, we're going to dive in with how you can have a wonderful and memorable time this summer, while still building up your stash.

In this episode,  we get into:

  • Leveling up your barbecue game
  • Exploring the great outdoors is perfect for your happiness and wallet
  • 10 ways you can boost your savings 

Let’s get started! 

Handy Tools to Boost Your Savings

If you’re looking to get ahead with your finances as a family, here are key resources to check out!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

Slash Your Phone Bill with Republic Wireless!

I'm so happy to announce our new sponsor Republic Wireless.

 

If you’re looking to hit your family’s financial goals faster, optimizing your expenses is the way to go. Chances are you’re paying too much for your smartphone and not getting the value you deserve.  

Same thing happened to me years ago. Wanting to become debt free faster, I switched to Republic Wireless and saved big time. 

Nationwide coverage, fantastic phone options like the Samsung Galaxy and Moto g, plus seriously affordable prices (plans start at $15/month!) make it a smart choice for families looking to save without sacrificing value. 

See all they have to offer at Republic Wireless

Key Takeaways

Before we wrap up, I want to share a few key takeaways I got as I was preparing this episode.

 If you want to discuss this more – ask questions, swap ideas, and maybe get a debt-free strategy set up – don’t forget to join us in the Thriving Families group on Facebook.

We swap ideas and tips because our goal is to help one another out with our family and financial goals. 

Hope to see you there!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.


We’re all looking to get the best value, but how can you balance saving money, hitting your financial goals, while still having fun?

Today we’ll go over how you can master the art of being frugal!

Can Being Frugal Make You Rich?

Whether you’re pursuing a debt-free pathfinancial freedom, or independence, there’s one skill that can help you hit your goal faster – being frugal. 

I’m not talking about being cheap. 

I’m talking about living a rich life without spending a ton of money.

When I say frugal, I’m talking about living a rich life without spending a ton of money. It’s about maximizing your dollars for the best value. 

I’m going to talk about three areas where you can do this – budget, tech, and travel.

To help show the ways you can live well while spending less, I have two guests. 

First off,  Joel Larsgaard from How to Money is sharing ways couples can work together so they’re spending on what matters to them.

Second, we have Joel Kades of Republic Wireless. We’re going to look at how technology opened up some options so you can get an affordable smartphone plan.

Finally we’ll wrap things up with how to make frugality fun with tips on how to save on travel.

We got a lot to cover so let’s get started!

Resources to Maximize Your Dollars

Being frugal is really about optimizing your expenses so you’re getting the best value. Here are a few resources to help you significantly save without 

 

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

Slash Your Phone Bill with Republic Wireless!

I'm so happy to announce our new sponsor Republic Wireless.

If you’re looking to hit your family’s financial goals faster, optimizing your expenses is the way to go. Chances are you’re paying too much for your smartphone and not getting the value you deserve.  

Same thing happened to me years ago. Wanting to become debt free faster, I switched to Republic Wireless and saved big time. 

Nationwide coverage, fantastic phone options like the Samsung Galaxy and Moto g, plus seriously affordable prices (plans start at $15/month!) make it a smart choice for families looking to save without sacrificing value. 

See all they have to offer at Republic Wireless

Key Takeaways

Before we wrap up, I want to share a few key takeaways I got as I was preparing this episode.

  • Prioritize which expenses matter most to you.
  • Focus on big wins and low hanging fruit.
  • Redefine what frugal means to you.  

 If you want to discuss this more – ask questions, swap ideas, and maybe get a debt-free strategy set up – don’t forget to join us in the Thriving Families group on Facebook.

We swap ideas and tips because our goal is to help one another out with our family and financial goals. 

Hope to see you there!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

 

 

Direct download: S3_E13_The_Art_of_Being_Frugal.mp3
Category:personal finance -- posted at: 11:31am EDT

With credit card fraud and identity theft happening more frequently, we all have to step up our game. Learn keys ways to protect your finances and identity!

Fraud Protection

I hope you never have to deal with identity theft, data breaches, or fraud but chances are you will.

There were 4.8 million identity theft and fraud reports received by the FTC in 2020, an increase of 45 percent from 2019.

The Ascent from Motley Fool reported that credit card fraud was the most common type of identity theft last year – over 270,000 reports.

Another unfun stat – identity theft doubled from 2017 to 2019.

Finally in 2019 almost 165 million records containing personal data were exposed through data breaches.

The point? 

Cyber crimes aren’t going away anytime soon.

In fact last year, I got it.Twice.

The first one, I received a call from Coastal about suspicious activity on my card. Thankfully that was quickly resolved. 

Second time, I discovered it when doing my monthly review. I saw a $140 charge from California. I called and explained this wasn’t me. 

It took a month of back and forth, but I got it cleared. I was a headache.

One I hope you avoid. 

 

Which is why I’m so glad Joe Mecca is back on the show. 

In this episode we get into:

  • Practical ways we can protect our finances when you're offline or online
  • What you need to do if your card is compromised

Hope you enjoy it!

Resources to Protect Your Finances

If you're getting more proactive with protecting your identity and money, here are some handy resources to check out!

For freezing your accounts or putting an alert you need to contact the credit bureaus.

  • Equifax: 1-888-766-0008
  • Experian: 1-888-397-3742
  • TransUnion: 1-833-395-6938

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

Key Takeaways on Dealing with credit Card Fraud and Identity Theft

Before we wrap up, I want to share a few key takeaways I got as I was preparing this episode.

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  • Prepare yourself now. It’s not a matter of if, but when. It’s critical that we all become more vigilant.
  • Don’t reuse passwords. The way things are now, even if you do a good job on your side. Data breaches can happen so please mix your passwords.
  • Become familiar with tools and options available. I love that coastal has redone card nav, giving it more features. Like Joe mentioned, if you bank somewhere else, it’s good to become familiar with whatever features or services that offer. 

Unfortunately things like these aren’t going away, so if you want to discuss this more – ask questions, swap ideas, and maybe get a debt-free strategy set up – don’t forget to join us in the Thriving Families group on Facebook.

We swap ideas and tips because our goal is to help one another out with our family and financial goals. 

Hope to see you there!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

Direct download: SEP_S3_E12_Theft_Fraud_How_to_Protect_Your_Identity_and_Money.mp3
Category:personal finance -- posted at: 12:59pm EDT

Around 82% of Americans said their finances were affected by the pandemic and the fallout according to a recent Fidelity survey. If you’re planning on retiring in a few years, that can be a really scary thing.

Today I want to share a resource that can help you get back on track with your retirement plan! 

The 5 Years Before You Retire: Retirement Planning When You Need It the Most

How comfortable do you feel about your retirement? 

You’re not alone if you’re worried about it.  36% of Americans are more concerned now than at the start of the pandemic on their ability to maintain a nest egg in retirement. 

The good news for most of us is that there is time to get back on track.

Today’s bonus episode is focused on helping you reset things and worry less about retirement. 

Thrilled to have Emily Guy Birken on. She is a former educator, lifelong money nerd, and a Plutus Award-winning freelance writer who specializes in the scientific research behind irrational money behaviors.

She’s also the author of several wonderful books including End Financial Stress Now and The Five Years Before You Retire, which has been updated and released today.

I got an advanced copy and really enjoyed it. I actually ordered a copy for my mom.

Emily covers everything you need to do in the next five years to maximize your current savings and create a realistic plan for your future.

During our chat, we get into:

  • The two biggest mistakes people make when it comes to retirement planning
  • How to assess where you are with your finances now
  • Understanding social security 

Hope you enjoy! 

Thank You to Our Sponsor Coastal!

Learn more about our sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and helps gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

Direct download: SEP_S3_BONUS1_5_Years_Before_You_Retire_with_Emily_Guy_Birken.mp3
Category:personal finance -- posted at: 7:38am EDT

Many families are looking for a getaway this year, but also want to stay on budget. We'll go over some great family vacation ideas and ways to plan a wonderful trip!

Planning a Family Vacation in 2021

Many families are looking for a getaway this year, but also want to stay on budget. We'll go over some great family vacation ideas and ways to plan a wonderful trip! #family #travel

How do you plan for a year where you don't know exactly what to expect? 

I think that's been the unofficial theme this season.

We've been talking about how to create a budget that's flexible enough? How do you figure out your schedule? 

Now I'm hoping maybe a little cautiously optimistic, how do we plan some family fun, maybe a few family trips sprinkled throughout the year if possible?

Summer is coming up, people are getting vaccinated and while we’re not out of the woods just yet, I’m looking to travel more. 

It seems I'm not the only one. A recent VRBO survey found that 65% of Americans plan on traveling more in 2021 than they did pre COVID.

We rolled over a chunk of our vacation money into this year. I’m looking forward to going to the beach, whitewater rafting, taking a trip with just the two of us, and maybe going for a longer trip.

At the same time, I want to be reasonable and keep some flexibility in case things change. 

This is why I’m so happy Karen Cordaway is here. She’s the author of The Everyday Bucket List. 

In this episode we’re going to look at:

  • How you can build and cross off your bucket list
  • Creating a flexible plan for travel this year
  • Affordable vacation ideas

Let’s get started! 

Resources to Save on Your Next Family Vacation

If you're looking to start planning and saving for your next family trip, here are a few handy resources to check out!

Thank You to Our Sponsor Coastal!

Learn more about our sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

 

Key Takeaways on Making the Most of Your Family Vacation

I really enjoyed chatting with Karen and hearing all her creative ideas to have some memorable and affordable family fun.

Here are a few key takeaways I got while preparing this episode:

Bake Vacations Into Your Budget

I’m a big fan of including what matters to you into your budget. Trips for us are not just about escaping, but connecting. Having the budget is really handy for a few reasons.

  1. You can move quickly on any great deals you find.
  2. You’re doing this debt-free so when the trip is over you’re not worried about paying off the card.
  3. If we don’t happen to use that money – like what happened last year – we can roll that into the next year or use it for some other goal. 

Go Green

Add parks- whether’s national, state, local – to your rotation of destinations this year. These can be memorable and affordable trips for your family while still staying relatively safe. This could be an opportunity for your family to try something new. 

Be Flexible

Last year really hammered in that there were things outside of our control. I’m cautiously optimistic that things will move forward, but I don’t know.

There may be smaller lockdowns or increased restrictions on the future in certain areas based on the numbers.

To cope with that, we’re taking Karen’s advice and have some backup trips.

As I’m making travel plans, I’m also being a bit flexible with dates to get some great deals. And I’m also checking reservations to make sure they have reasonable cancellation policies.  

Maybe because we’ve been staying more local that I’m really excited about this, but I'm so ready to travel more.

If you’d like to chat more, please join us in our free and private Facebook group, Thriving Families

We’re all about helping and encouraging one another with our family and financial goals. We swap stories, ideas, and tips. 

Just head over there now. We’d love to see you there!  

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and helps gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

 

Need a boost with your income? Learn how to find the best paying side hustles for you! 

Finding the Best Side Hustles That Pay Well

Sometimes to hit your goal faster, you just have to earn extra mone.

Of course that’s not the only thing you’re doing.

If you’ve taken my Free 5 Days to $5K course, then you know we look at three pillars when it comes to ‘finding’ money. 

First we optimize your budget, evaluating expenses to see if they are necessary or they bring you joy. 

Second, we uncover ways to save when you have to spend.

But finally we also look at the other side of the coin – earning more money. 

Now the easy advice to give is to get a second job, but that’s usually not the best solution, especially if you have kids or other limitations with time or location.

This is where side hustles can help. You can earn more with a bit more flexibility. However it can be tricky because the ones usually advertised are not that well paying. 

You have to be strategic when finding a side hustle that allows you to earn more without burning you out. 

Which is why I’m so glad Jen Smith is on today. 

Jen has done it all. Seriously. 

 

From T-shirts to writing to Airbnb, she’s tried out different avenues to earning more. 

On her site Modern Frugality and Frugal Friends Podcast, she’s all about helping others to pay down their debt through better money habits and building their income. 

In this episode we’ll get into:

  • The differences between side hustles vs side jobs
  • Explore options to earn more 
  • Building your income sustainably

Are you ready? Let’s get started! 

Resources to Build Up Your Income

If you’re looking to boost your income, here are some helpful resources to earn more money and manage it better! 

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

Key Takeaways

We covered a lot of info today, so before we wrap up, I want to focus on a few key takeaways from preparing this episode.

  • Have a clear goal for your side hustle.
  • Be honest about your schedule and requirements.
  • Your health > Money

If you’d like to chat more, please join us in our free and private Facebook group, Thriving Families. 

We’re all about helping and encouraging one another with our family and financial goals. We swap stories, ideas, and tips. 

Just head over there now. We’d love to see you there!  

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

Direct download: S3_E10_Boost_Income_with_Side_Hustles.mp3
Category:personal finance -- posted at: 6:23am EDT

Getting ready to start house hunting? Get tips on how you find and buy a house you love that is still affordable! 

Are You Ready to Buy a House?

Right now with the national median listing price in December was $340,000, chances are buying a house – it’s typically the biggest purchase a family makes.

Depending on where you live it can be a hot seller’s market, making it even more difficult to find a place that you love.

That’s why it’s so important to go in prepared not financially, but with an understanding of what home ownership truly looks like. 

Certified Financial Planner and Accredited Financial Counselor® Adam Hagerman is here to help sort through things including the whole rent vs buy debate. 

Before you start house hunting, you want to make sure this is the best move for you and your family. 

In this episode, we’ll get into:

  • How the buying process work – qualifying for a mortgage, finding an agent, house hunting, and closing
  • Bad advice and myths people hear about buying a house
  • What you truly need to focus on when you’re buying so you’ll be happy and not house poor

Let’s get started!

Resources on Buying a House

If you’re looking to buy, here are some resources to help you find an affordable place you love!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

See how Coastal can help you with your mortgage needs!

Key Takeaways on Snagging a Great Deal When Buying a House

We covered a lot of information today so before we wrap up, I want to focus on a few key takeaways from preparing this episode.

The first one is please run your own numbers. I want you to own a home and for it to feel like a blessing and not a burden.

Finding an affordable place means that you’re able to be a homeowner and still hit your other financial and family goals.

 

The second is focus on what matters to you.

I don’t know how it happens, but when you announced that you’re buying a house, There’s a lot of advice that’s thrown at you.

Some of it is well-intentioned and good, but sometimes there are myths that keep getting passed on as a fact.

So you want to make sure that you’ve defined. What kind of house that you want, why you want this house and also again, that the numbers line up for you.

Don’t feel pressured to buy a house simply because you’re supposed to be doing it or it’s that time in your life that everyone else is buying a house and said make sure this is a milestone that you want to hit.

Finally, as you probably picked up based on what we’ve talked about, the more work that you put into it, the better the results.

A lot of this is preparation, getting the pieces in play. And then the house hunt becomes a lot easier and a lot less stressful.

Spending the time upfront, getting your finances in place. Defining your must haves and having your wishlist and knowing which neighborhoods you would love to get a house can make this home buying process a lot more fun.

There is so much to talk about when it comes to house hunting, so if you want to chat more, please join us in our free and private Facebook group, thriving families.

We’re all about helping and encouraging one another with our family and financial goals.

We love to swap stories, ideas, and tips. We can tell you what worked for us, what didn’t, and you can usually find someone in the vicinity or area you’re in which can be great for recommendations for things like real estate agents. Please head over to simplify and enjoy.com/fb.

We’d love to see you there!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

 
Direct download: S3_E9_Smart_Way_to_Buy_a_House.mp3
Category:personal finance -- posted at: 7:10am EDT

Thinking of selling your house? Today we’ll go over how to prepare your place so you can get the best price for it!

What You Need to Know to Sell Your House for More

Selling a house, especially when it is your first place, can be overwhelming. Even in a seller’s market like we have here in Raleigh, you have work to do.  

You have to fix up your space, stage your house, and have it ready for showings. 

Let’s not forget this added layer of social distancing and safety we need to practice while we deal with the coronavirus. 

However, selling your house at the best price can also be a huge boost to your finances and bring you closer to your goals. 

The difficult part can be getting to that point

Which is why I’m glad Mariella Guillama is here today. She’s an award -winning Real Estate Broker at Daymark Realty.

We used Daymark when we sold our first home and for buying our current place. We’re super happy with the experience. 

In this episode, we’ll get into:

 
  • finding the best price to list it 
  • what mistakes to avoid so you’re not wasting time or money
  • how to prepare your place so it wows potential buyers and you get top dollar offers 

We have a lot to cover, so let’s get started!

 

Resources to Get Top Dollar When Selling Your House

Thank You to Our Sponsor Coastal Credit Union!

Learn more about our sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been members for years and love their service and competitive rates on checking and savings accounts!

Key Takeaways for Selling your House

I know we only scratched the surface. There’s so much to talk about and I’d love to chat some more about this. So if you want, please join us in our free and private Facebook group, thriving families. We’re all about helping and encouraging one another.

With our family and financial goals. We love to swap stories, ideas, and tips. Just head over to simplify and enjoy.com/fb. We’d love to see you there.

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

Direct download: S3_E8_How_to_Sell_Your_Home_for_More.mp3
Category:personal finance -- posted at: 6:28am EDT

Who doesn’t love a good DIY home project? But how do you take what you see online or on television and translate that into your home, especially when you are not naturally handy?

Today, we’ll look at what you need to know to get started and build up your DIY skills!

Getting Started with DIY home Projects

Last week we were talking about being a frugal foodie, home brewing, and having a garden at your place.

These are some of my favorite topics.

I enjoy talking about how to save money and put it towards goals that matter to you but I also love learning new things.

 As I mentioned last week, I wasn’t a natural gardener. 

My first attempts are pretty bad keeping plants alive. I ended up going with cacti and fake plants inside the house for a few years. 

By starting off small with a little front patio garden. I began to get some practice and to learn some skills. And I would not call myself a garden expert. 

Now I’m really proud that we have a space out back where we can grow the vegetables that we enjoy and love.

I feel the same way about DIY.

Neither one of us are naturally handy people, but when we became homeowners, we out of necessity had to learn some skills. Not only so that we can save some money, but turn our house into our home.  

If you’re thinking of taking on some home projects, but you don’t know where to start, then this is your episode. 

Whitney Hansen, who’s the creator and host of The Money Nerds podcast is here today. 

 

Besides her financial skills, she also has some serious DIY talents. She loves to jump into projects whether it’s painting her housebuilding a fireplace, or flipping furniture.

In this episode, we’ll get into:

  • why and how she got started with her home projects
  • how to save money when you’re doing DIY, and
  • where she finds resources to learn new skills. 

Are you ready? Let’s get started!

Hope you enjoy! 

Resources to Make Your Home Projects less stressful and on budget

If you’re planning on doing a home DIY project and you want to keep it stylish and affordable, here are some resources to check out! 

Thank You to Our Sponsor Coastal Credit Union!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been members for years and love their service and competitive rates on checking and savings accounts!

Key Takeaways with DIY Home Projects

Here are a few key takeaways from today’s episode!

  • Start where you can. With Whitney, flooring was one of her first projects. You may be more along the lines of us, where our project was painting. It may not sound like much but you can always build up. Fixing up furniture you find at yard sales or thrift stores. repairs around the house, including your gadgets are ways to practice and develop skills. 
  • Run the numbers and outline the project. Whitney mentioned she kind of wings it, but she also mentioned breaking the projects down. Even if you hire a contractor, it is really beneficial to be familiar with the overall process so you can make sure you’re getting a good deal and paying them fairly. 
  • Safety first. An additional benefit of breaking down and understanding the process is knowing your limits. It’s not worth saving money for your safety in jeopardy.  Whitney is comfortable with some electrical work in part because she had an electrician show her the ropes. For us, we’ll do some plumbing, but will call for electrical work. 

There’s so much we can chat about, so come join in our Facebook group  Thriving Families. 

We’re there to support one another with our family and financial goals. I’d love to share any tips I can and I know there are others too. 

We’d love to see you there!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.


Just because we’re at home doesn’t mean we can’t still be frugal foodies.

Today, we’ll look at how you can jumpstart a garden and start making craft brews at home!

Frugal Foodie at Home

Frugal foodie is back! If you’re new to this series, it’s where we explore ways you can eat well without breaking the budget.

For some though, when you hear frugal. It means cheap. I get it. Maybe, you know, someone who brags about getting the absolute lowest price on everything. Whether it’s good or bad.

While you can save money being frugal, the real focus is getting the best value.

When it comes to food and really life, he don’t want to settle for less just because it’s the cheapest. You want to get the most out of what you have.

With this series, we look at ways that you can make your dollar go further. We’ve talked about getting great deals on food, whether it’s grocery hacks, meal planning, or even going out to eat.

Today, we’re going to look at another way you can enjoy fantastic meals and still keep things affordable.

We’re talking about gardening and home brewing.

What was interesting was how incredibly relaxing these hobbies, where especially last year.

Many of us had more time at home in the usual options weren’t always available. Family trips, checking out the museums or festivals were all off the table. We had to find ways to keep ourselves busy and have some creative outlets.

For us that included making home brews and being out in the garden.

We had home brewed years ago, but when we had two toddlers at home, it became more of a hassle so we took a hiatus.

 

Thankfully, we still had the equipment in our basement so when we felt like starting that back up last year, it was fairly simple.

The other hobby gardening is something we’ve been working on year after year, especially with this house. We have our main space Outback, where we grow hot peppers, tomatoes, different green strawberries and more.

2020 was still. You know, 20, 20, but it was good to have a project to work on. While, I don’t think all of our Happy’s have to be productive or optimize, I do feel like there are some great benefits. With making and growing your own food.

If you’re really looking to make meals at home, more enjoyable and special, it’s hard to beat something that you grew or made yourself.

Today, we’re going to look at what it takes to get started so the two of you can level up and become frugal foodies.

In this episode, we’ll go over:

  • how you can set up an easy to maintain a garden in or outside your house
  • Explore the fun of home brewing craft beers
  • look at the numbers and see how they come out.

Are you ready? Let’s get started!

Resources to Become a Frugal Foodie

If you’d like to try out your handy with gardening or homebrewing, here are some handy resources to help you get started! 

Gardening

Home Brewing

Thank You to Our Sponsor Coastal Credit Union!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been members for years and love their service and competitive rates on checking and savings accounts!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

Direct download: S3_E6_Frugal_Foodie_at_Home_Gardening_and_Homebrewing.mp3
Category:personal finance -- posted at: 7:56pm EDT

Tax season is here. How prepared are you? Today we’ll go over how to make filing your taxes easier and less stressful! 

How to Make Taxes Less Stressful

Between the paperwork you need to track, tax terms that are dry, and the eye-opening nature of going through your finances for the year, taxes can understandably make you anxious. 

If you’re looking to optimize your finances, you have to get your taxes done right. 

Today, I want to give you a quick and easy guide on preparing for your taxes. 

In this episode:

  • We take a step back to look at essentials of taxes
  • We examine the tax deductions and credits parents should know
  • Examine ways you can plan and set yourselves up for big wins on next year’s taxes

Are you ready?

Let’s get started! 

Resources to Tackle Your Taxes

Looking to make taxes less stressful? Here are some of my favorite resources!

Thank You to Our Sponsor Coastal Credit Union!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been members for years and love their service and competitive rates on checking and savings accounts!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

Direct download: S3_E5_Make_Taxes_Less_Stressful.mp3
Category:personal finance -- posted at: 10:28am EDT

How can you plan and budget for a year when there are so many things up in the air?

Today we’ll go over how the two of you can create a plan and budget so you can hit your goals while being flexible enough to switch gears if needed!

How to Hit Your Money Goals During a Uncertain Year

This first month of 2021 is just about wrapped up and already it's been an eventful year!

A huge challenge we faced in 2020 and it looks like for a good part of this year, it's going to be creating plans when there's no firm idea of what to expect.

Heard from many of you, the frustration and the stress of having plans started at the beginning of the year, and then getting hit with the pandemic or the financial fallout from it and it throwing everything off.

It's understandable if you are not looking to repeat that in 2021.

While we can't prepare for every single situation and emergency, there are steps we can take to shore up our finances and give us more options. Our goals and our budgets need to have flexibility built in so that we can pivot for whatever comes up.

But how do you do that? How do you plan in budget when you don't know what to expect? That's going to be our focus for today.

We're going to look at the big picture and talk about how to approach your goals for this year and your budget.

Then We're going to drill down with a goal that many couples have- paying off their student loans - and coming up with a plan when there's still certain decisions that haven't been made yet.

There was an announcement last week with federal student loans, but are we going to have anything forgiven?

Certified student loan professional Meagan Landress from Student Loan Planner is here to talk about your options and what the two of you need to discuss to come up with a plan that fits your needs.

We got a lot to cover, so let's get started!

Resources to Stay on Top of Your Money 

If you’re looking to build up your finances, here are some handy resources we mentioned in the episode plus more! 

Thank You to Our Sponsor Coastal Credit Union!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been members for years and love their service and competitive rates on checking and savings accounts!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

Direct download: S3_E4_Planning_for_an_Uncertain_Year.mp3
Category:personal finance -- posted at: 1:13pm EDT

For many families, 2020 threw us for a loop. Today we’ll look at how you can revamp and build your budget so you can hit your financial goals faster!

Revamping Your Budget

I think it’s fair to say that last year did not go as any of us planned. I’m not going to recap the year – we were all there- but honestly, we had a lot curve balls thrown at us. 

Because we had to make so many changes with how we worked, did school, and more, our day to day routines changed and our budgets did as well.

While I’m happy that there are vaccines being produced now, there’s still much ahead of us. It’s going to be a while before things get back to a more normal routine. 

Which means more than ever, we  create a plan for our finances.

One of the best ways you can pivot your finances is by creating a roadmap for your money. For most families, that means creating a better budget.

Some challenges that couples face can include: 

  • sinking up on what goals you want to tackle this year
  • Building a budget that is flexible enough to deal with adjustments
  • Finding ways to both save for your goals and for some fun

So we’re going to dig into this today one by one. 

Rob Bertman is on the podcast.  He’s a certified financial planner and the creator of Family Budget Expert.

He’s worked with families on reconfiguring their budgets so that it reflects them and their specific goals.

We have a lot to cover, so let’s get started! 

For many families, 2020 threw us for a loop. Today we’ll look at how you can revamp and build your budget so you can hit your financial goals faster! #podcast

Resources to Build a Better Budget Together

Looking to create a budget? Here are some helpful resources: 

If you’d like to chat more about your money system, please join us in our private and free Facebook group – Thriving Families

We’re families looking to support and help one another out.

Hope to see you there!

Thank You to Our Sponsor Coastal Credit Union!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been members for years and love their service and competitive rates on checking and savings accounts!

Key Takeaways on Creating a Budget That Fits Your Family and Goals

Now that we’re two weeks into our monthly money challenge. Which is simply tracking your money. You’re probably getting a clearer picture of your family’s cashflow.

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With those numbers in front of you, the two of you can start building a budget together that makes sense for you and your goals for the year.

Here are a few things to look out for and discuss.

Which areas of your budgets, are you spending more or less than you had anticipated?

Since many families stayed home more in 2020. It’s natural that your budget’s shifted. In certain areas may have seen an increase while others. Had a decrease. Now that the new year has started, things may have shifted again. If, so which areas of your budget are staying on target? In which ones are unexpectedly higher or lower?

Of course, if you’re going over budget, you immediately need to make changes. But this may be a case of where you need to adjust your budget, to be more realistic for your current and future circumstances. Perhaps you’ve discovered that yes, you’re spending more with food, but you’re eating at home more eating healthier.

And the quality of the food that you’re picking out is much better. So in that case, you may decide going forward that you want to keep the food expenses in that range and cut somewhere else.

The second thing to discuss. And it is related to the first is how much did you enjoy with your spending? I know sometimes in the personal finance space. Spending is seen as a negative, but that’s not necessarily the case. Again, when we’re looking at budget, we’re talking about what we prioritize and what we value.

I know for us, we’ve made some purchases during the pandemic, since we were going to spend more time at home and we do not regret those purchases.

We put some more money into our family garden and got items for the yard, such as a hammock and a telescope and we really enjoyed those purchases.

What about you? What new spending did you have because of the pandemic. Perhaps it was buying games for family game night.

You may be looking at that spending and you’re happy with it. And you might decide that going forward, you want to keep it in your budget. Then make sure that you put it as a new line item in your budget going forward.

Creating a budget. Isn’t all about cutting expenses. It’s really about being more intentional with how you use your money.

Finally looking at your cashflow. What’s a realistic pace for you to hit your goals.

We’re not trying to create the perfect budget. We’re trying to create a budget that actually works for you.

These discussions may seem small, but they can give you a leg up for creating a budget that you can use for the rest of the year!

For many families, 2020 threw us for a loop. Today we’ll look at how you can revamp and build your budget so you can hit your financial goals faster! #family #budgets

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.

Direct download: S3_E3_The_Art_of_Building_a_Budget_That_Actually_Works.mp3
Category:personal finance -- posted at: 9:36am EDT

Dealing with debt can be a grind, especially if you have a ton of debt or if it is high interest. Today we’re going to see how the debt lasso method can speed things up with credit card debts and we’ll get tips on how to pay off over six figures of debt without sacrificing fun!

Creating a Plan to Pay Off Your Debts

One of the most popular goals families make when it comes to money is paying off their debts and with good reason. 

 

Even before the pandemic, debts were a considerable chunk of an average American family’s budget. 

 

The median household consumer debt was $67,000 according to data in New York Fed's quarterly Household Debt and Credit Survey.

 

Getting rid of that debt is not always so easy. 

 

You need something that is realistic so you can stick with it as well as a way to speed things up if you’re deep in debt. 

 

We’re going to look at how you can create a debt free plan that fits your family and budget. 

 

Today’s financial experts are John and David Auten-Schneider and Toni Husbands. 

 

In this episode we get into:

  • Deciding which plan would work best
  • Getting your spouse on board
  • finding that balance between hitting your financial goals still enjoying your life

Let’s get started!

Listen to the episode on Apple Podcasts, Spotify, Android, or on your favorite podcast platform.

Resources to Dump Your Debt Faster

If you’re looking to create a debt free plan that fits your family, budget, and timeline here are some helpful resources to review. 

 

If you’d like to chat more about your money system, please join us in our private and free Facebook group – Thriving Families

We’re families looking to support and help one another out.

Hope to see you there!

Thank You to Our Sponsor Coastal Credit Union!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been members for years and love their service and competitive rates on checking and savings accounts!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Our theme song is from Staircases. Additional music by various artists from Audiio.


Most parents have their hands full and too many times our finances, health, and homes don’t get the attention they should. 

We go over how you can reset your habits so you simplify your finances, home, and lives to enjoy some big wins this year! 

Reworking Your Habits

For multiple reasons, 2020 was a challenging year. 

Even if you weren’t directly affected by the pandemic or managed to avoid the financial fallout of it, chances are you were impacted by what was happening. 

If you’re a parent, you had this gargantuan task of working from home, staying productive, while corralling your kids with their remote learning. 

But we made it here. 

Understandably, you’re probably looking forward to resetting a few things, including your finances.

Peter Polson, the founder of Tiller, is joining me in this episode to discuss how to shift your financial habits and more. 

It may seem these are too small to matter or make a difference, but from our personal experience and learning from others, habits are really the building blocks to pivoting towards your goals, whether it’s with money, at home, or our health. 

In this episode, we’re looking at:

  • Why Habits Are Better Than Relying on Just Willpower
  • Essential Daily Habits to Add Into Your Routine
  • How to Design Your Schedule and Finances Around Who and What Matters Most to You

Ready? Let’s get started! 

Key Resources to Help You Change Your Habits

Looking to reset a few things to get some family and financial wins this year? 

 Here are some fantastic resources to help you! 

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We've been members for years and love their service and competitive rates on checking and savings accounts!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

Music Credit

Music in this episode was provided by artists from Audiio.


Get a peek into how we did with our goals for this year and see how you can do your year review and set yourself up for an incredible 2021! 

Year-End Review and Planning for 2021

What a year, what a year! We still have another month, but most people I know are kind of winding down.

As we wrap up this 10th season, I thought I’d share a bit of our year-end review. We started 2020 with three big goals. The first two happened at the same time – no the original plan- but we worked with it. 

Hopefully, it’ll give you some ideas with your own year-end review and how to best prepare for the next steps. 

Speaking of next steps, I have some exciting news about the podcast that I want to share. Love to get your take on it. 

You ready? Let’s get started! 

Resources to Make Money Less Stressful

If you’re overwhelmed and looking to smooth out your money system so you can focus on the big wins, here are some helpful resources to check out!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional Music from Artists at Audiio.

Direct download: S10E30_2020_Year_End_Review_Pivoting_for_2021_and_Beyond.mp3
Category:personal finance -- posted at: 10:43am EDT

How well is your money working for you? Today we’re looking at how personal finance can be more holistic and reflective of what most to you through financial wellness!

Financial Wellness: A Holistic Approach to Money

How did this year go for you? 

I have not met one person yet who has had it go as they expected. 

Even if you were financially prepared – emergency fund, debts are paid off are in the process of being knocked out, things shifted.

As I talked about in the last episode, we had expenses like transportation, travel, and eating out drop to pretty much zero or drastically cut while others like family entertainment and charitable increased. 

A big reason why is that our finances – to a degree – reflect what’s going on in our lives and our priorities. 

This is not exclusive to 2020. 

However, I’ve been hearing from so many people here in the community and in my personal circle about how they took a step back and reviewed their finances. 

They looked beyond the numbers and had some conversations about where they really want their money to go. 

They’re looking at the next year when hopefully things will shift back at some pace to ‘more normal. 

I was just discussing with a friend how having to stay at home more and in a sense slow down from her regular routine with the family gave her a chance to weed out unnecessary things. That, in turn, is fueling her plans for 2021 and beyond. 

Maybe you’re at the point too. 

 

That’s why I’m looking forward to today’s show. We’re wrapping up this year with how you can set up your finances more holistically and make it more reflective of your family.  

Jason Vitug is here to help me out. He is the founder of Phroogal and financial wellness expert empowering a generation to live their dream life through financial knowledge. Jason’s also the author of the best selling book, You Only Live Once. 

In this episode, we’ll get into: 

  • Why tracking your numbers is so powerful
  • Why financial wellness matters
  • How to start planning for a richer life beyond the numbers

Ready? Let’s get started! 

Resources to Make Money Less Stressful

If you’re overwhelmed and looking to smooth out your money system so you can focus on the big wins, here are some helpful resources to check out!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

Key Takeaways

Before we wrap up, I want to focus on a few key takeaways I got from preparing this episode.

  • The real power of tracking your money is not in the amounts, but the awareness. 
  • A rich life includes financial wellness. 
  • Budgets should reflect YOUR priorities and values. 

I know switching can seem to be a bit tricky. If you have any questions or are stuck, please come chat with us and our Thriving Families Facebook group.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional Music from Artists at Audiio.


We’ve brought back the reader mailbag. Today we’re answering your questions about marriage and money! 

Reader Mailbag

One of my favorite parts of Couple Money is the community. Having you be a part of this has definitely made the work more enjoyable.

Whenever I hear from you about what you’re working on, questions you have, or ideas you think will be helpful, I’m happy.  

When I started Couple Money 11 years ago, it was basically a journal of us and our journey of paying off debt.

Then you came in and other couples sharing your stories and it’s really been a blast. 

So today’s episode will be a bit of fun, I’m answering the most popular questions I’ve received this year along with one covering a new topic I haven’t really got into before. 

In this episode, we’re answering your questions such as: 

  • How our spending has shifted this year with everything going on
  • Quick way to figure out how much you need to retire
  • How defined benefit plans work 

Ready? Let’s get started! 

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

Resources to Get the Most Out of Your Money

Here are some resources to make managing your money much easier!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional Music from Artists at Audiio


Learn how you can move your money and switch to a new bank or credit union!

Ready to Switch to a New Bank?

A bad bank or credit union can not only be a headache, but it can also slow you down as you try to build your finances. 

Between the excessive/hidden fees, bad customer service, and low-interest rates on savings, it’s understandable if you’re frustrated. 

You may be wondering, what’s the point of keeping your money there? 

That’s basically how we felt when we dealing with our old banks. 

When my husband and I first got married in 2006 we decided to open joint checking and savings accounts and keep most of our money there.

We both had free checking with two of the big banks (Bank of America and Wachovia at the time) that we opened when were in college.

Since they were student checking accounts they had no maintenance fees which was a plus. However, they didn’t offer much else so neither account stood out.

Because I would be taking care of the day to day budget and bills, we opened our joint accounts with Bank of America.

I never had a problem with them so I figured it would be alright to use them.

I was wrong.

Within 6 months of opening the joint accounts, we were having problems with them.

Besides getting hit up with bank fees (now we had a monthly minimum to keep), wrong accounts being debited (bills came out of my account instead of the joint), and rude customer service (don’t even want to talk about that).

We had a decision to make – keep dealing with this nonsense or move our money.

Guess which one we picked? 

Looking back, I’m so glad we switched. Our money is actually earning something – even in this low-interest environment.

Fees have dropped significantly, money is coming out of the right accounts, and if a mistake comes up – no one is perfect – it’s quickly resolved. 

Actually resolved by a person and not someone reading from a script or switching us from department to department. 

I wish we had done it sooner, but like most people, we hesitated because of the hassle. 

Making sure paychecks were moved over, having bills come out of the new account, avoiding fees while switching – these were all things we wanted to avoid. 

Maybe you’re in this boat – you’re not happy with where you’re banking, but you don’t want to deal with the hassle. 

So today, I’ll take you through how you can seamlessly switch to a new bank or credit union. 

In this episode, we’ll discuss:

  • How Much Bad Banking Really Costs You
  • How to find a better banking option for your money
  • How to seamlessly switch your deposits, bills, and more

Are you ready? Let’s get started! 

Resources to Get the Most Out of Your Bank Accounts

Are you two ready to master your joint accounts? Do you want to create a system that fits your priorities and styles?

Here are some resources to check out.

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional Music from Artists at Audiio

Direct download: S10E27_How_to_Seamlessly_Switch_to_a_New_Bank_or_Credit_Union.mp3
Category:personal finance -- posted at: 8:27pm EDT

If you think talking about money with each other is hard, try talking to your parents.

Today we’re getting into one of the money sensitive situations when it comes to marriage and money – making sure your parents are in a good spot during their golden years. 

Taking Care of Parents

Family and finances can be stressful. But typically makes it so difficult is how easily our emotions get involved.

Talking with your parents about money. Is red at the top of the list. It can definitely be awkward, but it’s not something you want to put off.

If anything, this year especially has been a clear reminder that we need to be prepared.

Stuff happens.

While we can’t anticipate everything. Having these conversations and making sure our money’s in a good spot can make stressful things a little more bearable

Last year, Cameron Huddleson shared a story from her book Mom and Dad: We Need to Talk:

As uncomfortable as it seems to have these conversations, in a way, it”s the loving thing. You’re looking out for your parents.

Let’s be honest, there are a lot of moving parts. There’s the two of you and then your parents and theirs, siblings, so it can sometimes be tricky communicating with everyone. 

On top of that, you have to deal with your own finances and schedules and those factors will affect what you’re able to contribute.

So to make things easier, we’re going to break things down into some key steps you can take and some conversation starters to get the ball rolling. 

In this episode we’ll get into:

  • Opening up the conversations with your parents to see where they’re at
  • How to discuss together what you’re able to do for your parents
  • Drafting a plan so your parents are in a better spot for retirement and beyond and your finances are in a good spot

Ready? Let’s get started! 

Resources for Parents and Retirement

Here are some fantastic resources to help you two get more comfortable talking about retirement and more with your parents.

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

If you want to be better prepared financially, please consider Coastal’s Retirement Planning Program!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional Music from Artists at Audiio


One of the biggest game-changers with our finances was shifting things so we could live on one income. However, that’s not always an easy thing to do.

Today I’ll break down strategies and tactics that we and other couples have used to make it easier! 

Living on One Income

I’m serious; if we had to identify the one habit that changed the trajectory of our finances, it’s moving finances in such a way that we could live with just one income. 

Here’s the thing – when we started it was out of practicality. 

When we were first married, our income was much tighter. My husband had his first post-graduation and I was wrapping up my final year in college. I was attending full time and I had a paying part-time internship. 

Because of the nature of the internship, we didn’t know if it would be extended beyond the semester or not. We sat down and decided we needed to keep our essential expenses under his income. 

My income would be used for building our financial cushion, paying off the debts we had, and yes, some fun money. 

 
At that time it didn’t seem like a big deal, but that mindset and system was a tremendous help. We were able to goals like paying off debts. We were able to move to Raleigh when I got a job offer and having our expenses covered by it meant Rob could hunt for a job he was happy with. 

When I began working for myself we had less stress because I could reinvest what income I was making back into the business. We were able to build up our down payment faster. When we became parents I had some flexibility in adjusting my work and yes, I took time off too. 

We’re grateful for those opportunities and realize how fortunate we are to have made that decision early in marriage. 

But even in those circumstances, it wasn’t easy. There were limits we had to place on our finances in certain areas. 

Looking back though, we’re happy we did. 

You may be in a situation where making this transition would be a real benefit for you. 

Like us, it could be out of necessity or because of circumstances. 

 
You may have seen a reduction of income either because your hours have been cut or you’ve been laid off. 

It could also be a voluntary thing.  When I asked in our Thriving Facebook group the main motivation for moving to a single income. The biggest reason was more time with kids. 

I’ve seen families on the path to financial independence shift their finances so that they use one income to take care of the general living expenses and use the second to save and invest for goals. 

So many couples and families can benefit from this mindset. I’d like to offer some help with getting started. 

I can’t cover every single situation. For the purpose of this episode, I’m going to be focused on your single income stream being able your essentials, some savings, and enjoy a bit.  

In this episode, we’ll go over: 

  • the process to scale back your expenses to fit under one income
  • common challenges that can come up
  • Benefits of living on one income

Ready? Let’s get started! 

 

Resources to Shift to Living on One Income

Here are some resources to make managing your money much easier!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

Key Takeaways

Before we wrap up, I want to focus on a few key takeaways I got from preparing this episode.

  • Be clear on your motivation and goal. The better you define these, the easier it is to make the transition. You’ll be in a better position to know which expenses to cut back first. Or even eliminate. And you can find ways to shore up your savings before you make this leap.
  • Take it bit by bit. I know that they’re going to be circumstances with some families where you have to make the transition as soon as possible because there is a ready reduction in income. But if you’re doing this voluntarily, You don’t have to rush this. Approaching it bit by bit allows your family to adjust. To the new finances. And hopefully, it makes it easier to stick with a plan.
  • Have a plan for that second income. Even if you don’t need it to survive. You do want to use that money wisely? For example, you can pay down your debts. Build up some savings for a specific goal, or if you want to save and invest it. For long-term goals, then you know, that money is right there for you.

This is definitely a topic that we can go more into. And if you’re thinking about making the transition, come chat with me.

You can join us in the thriving Facebook community. We’re a fun and supportive group.

We swap ideas, questions, stories, advice. When we try to help one another out with our family and financial goals.

You can just head over to couple money.com/f B. We’d love to see you there.

Get Your Free Love & Money Guide
Learn the ice breakers and conversation starters to make talking about money easier! 
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Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional Music from Artists at Audiio

 
Direct download: S10E25_How_Can_We_Afford_to_Live_on_One_Income.mp3
Category:personal finance -- posted at: 8:44am EDT

Have you paid off your debts and are looking to grow your money beyond savings? Learn how to create a strategy and plan so you can open and invest in your brokerage account!

Ready to Open and Invest in a Brokerage Account?

If you would’ve met us when we were first married and told me that we’d get to a point where we were investing besides for retirement, I probably would’ve laughed at you. 

Considering at that time we were start off with over $30,000 of debt living in our tiny apartment right by the beach, it would’ve seemed unbelievable. 

We were just trying to find our footing and create a budget that worked for both of us. 

Fast forward to paying off our debts except for the mortgage and that’s where we found ourselves. Funny thing (maybe just to us) was that we hesitated a bit before opening that brokerage account. 

We had become super savers and have been putting money into our retirement accounts, but somehow that next step was a bit scary. 

What helped us was taking some time to step back and discuss our why behind this account. What was our hope or plan for this money? 

For us, being on the path to financial independence meant freeing up options, whether it’s to spend more time with the kids, explore career pivots, or volunteer more. Having money invested in this account would be helpful. 

With that in mind, we then worked out an investing plan we felt comfortable with. While I wouldn’t say it’s been a smooth ride – especially this year – having those pieces in place has made investing easier. 

You might be at this stage. You’ve paid off debts, saving, and now you’re looking to diversify your income and investing is one of those options on the table. How do you create a plan together for that money? 

Today we’re going to be covering that and Kevin L. Matthews is here to discuss the essentials you need to know before you start investing.

He’s a number one bestselling author and former financial advisor who has helped hundreds of individuals plan for their retirement in addition to managing more than $140 million in assets during his advisory career.

Now he’s focused on teaching millennials about investing, making it more simple and helping them craft their own plans. 

In this episode we’ll get into:

  • When you should open a brokerage account
  • how to approach research with before you invest in stocks
  • how to create a financial and investing system that works for both of you

Let’s get started!

Resources to Stay on Top of Your Money

Here are some resources to make managing your money much easier!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

Besides offering competitive rates on check and savings accounts, Costal has a wealth management team ready to work with you to create a financial plan that fits your specific needs!

Meet Kevin L. Matthews

Kevin L. Matthews II is a number one bestselling author and former financial advisor.

He has helped hundreds of individuals plan for their retirement in
addition to managing more than $140 million in assets during his advisory career.

By 2017, he was named one of the Top 100 Most Influential
Financial Advisors by Investopedia.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional Music from Artists at Audiio


‘All Investment Mistakes Are Investor Mistakes’

Is that really true? Today we’ll dig in and see how to avoid making the most common mistakes with your investments! 

Avoiding Big Mistakes with Investments

All Investment Mistakes Are Investor Mistakes

I saw that headline in an older article in The NY Times. Based on personal experience when I first started out, speaking with others on the podcast, and hearing from the community, there’s some truth to that. 

I’ve gotten emails and heard from others about what they should do with their portfolios. 

It’s one thing to have a plan on paper on what you’re going to do; it’s another to watch the volatility on the news or follow along on your phone and actually stick with the plan.  

Whether you’re investing for retirement or another goal, I’m guessing you’re looking to get some good returns. 

Today we’re looking for how you can become wiser, less stressed out investors. 

In this episode, we’ll discuss:

  • The biggest mistakes couples make when starting to invest
  • Traps that can derail your investments
  • Creating a system that works for you as a team

Let’s get started! 

Resources to Stay on Top of Your Money

Here are some resources to make managing your money much easier!

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

If you want to be better prepared financially for retirement, please check out Coastal’s 401(k) Planning Calculator.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional Music from Artists at Audiio

Direct download: S10E23_Top_6_Mistakes_to_Avoid_to_Protect_your_Portfolio.mp3
Category:personal finance -- posted at: 8:27pm EDT

Want to maximize your 401(k) this year? The first step to doing that is figuring out how much to contribute. Today we discuss how much you need to put in to retire! 

Getting the Most Out of Your 401(k)

We’re wrapping our open enrollment series. The past couple of episodes we’ve discussed what you need to know with your benefits so you can make the right choices for you and your family. 

Health insurance is a huge one, but the other big one is your 401(k). Last week Matt Miner, a certified financial planner talked a bit about how to walk through and review your benefits including your 401(k)s so if you haven’t already, please listen to that. 

You can check -in with your 401(k) throughout the year, but for many, this is a popular time to check and review their portfolio. 

Since it’s an important part of your finances, today we’re answering the biggest questions couples and families have with their 401(k), specifically how much should we contribute? 

In this episode we’re discussing:

  • How 401(k)s work and benefits of having one
  • Whether or not you should contribute when you’re in debt
  • Figuring out how much you need to contribute

Let’s get started! 

Resources to Stay on Top of Your 401(k)

Here are some resources to make managing your money much easier!

 

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

If you want to be better prepared financially for retirement, please check out Coastal’s 401(k) Planning Calculator.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

 
Direct download: S10E22_How_Much_Should_We_Contribute_to_Our_401k.mp3
Category:personal finance -- posted at: 8:13am EDT

Learn how you can navigate open enrollment season and maximize your benefits to their fullest potential!

Making the Most of Your Benefits

Learn how you can navigate open enrollment season and maximize your benefits to their fullest potential!

When we began our series about open enrollment last week, we got into some key things to consider when weighing the pros and cons of different health insurance options. 

While health insurance is typically the biggest decision couples and families make during open enrollment, it’s not the only one. 

There are so many benefits that can save you some serious money, protect your family’s finances, and give you some significant tax benefits. 

I don’t want you leaving money on the table which is why I’m glad Matt Miner is here today on the show. 

He’s a fee-only, fiduciary advisor with PLC Wealth Management, LLC who specializes in helping families to make sure their finances align with their goals, priorities, and values. 

In this episode we’re discussing:

  • the biggest mistakes couples make with their benefits
  • How to protect yourself with disability insurance
  • what to look out for with your 401(k)

Let’s get started!

 

Resources to Save serious Money

Are you looking for more help with maximizing your benefits and saving more money? Here are some resources:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

Did you know that Coastal offers a Health Savings Account? If you have a high deductible health plan, you need to take advantage of an HSA.

Find out more about what Coastal offers here!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

Direct download: S10E21_Maximizing_Your_Benefits_During_Open_Enrollment.mp3
Category:personal finance -- posted at: 5:00am EDT

Feel like your premiums are too expensive? Learn how you can significantly save money and find an affordable health insurance plan for your family!

Choosing an Affordable Health Insurance Plan

Like many families, we want affordable health insurance. Unfortunately, it’s not always easy.

In 2019, the average annual premium for a family was over $20,000

That’s quite a bit of money so it’s absolutely crucial that you’re 1) getting the most out of it and 2) if there is a more affordable option, you can make that transition easier. 

The good news is with open enrollment, you can have some big wins with your benefits for next year.

I want to make sure that when you two sit down, I want you to feel comfortable and confident about tackling your benefits.

Of course, every couple is different, I’m grateful Andy Hill, the creator of Marriage, Kids, and Money and the co-founder of Thriving Families Facebook Group is here to chat with me about his and Nicole’s process with choosing a health plan. 

We’re going to compare how each of us approached finding the best health insurance plan for our families. 

In this episode we’ll get into:

  • The differences between the most common options given
  • What to consider when deciding if a high deductible plan is right for you
  • Maximizing your available health care benefits

Let’s get started! 

Resources to Save Money on Healthcare

Are you looking for more help with keeping health care within your budget? Here are some resources:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

They have competitive rates on checking and savings accounts!

Key Takeaways on Finding an Affordable Option for Healthcare

Before we wrap up, I want to focus on a few key takeaways I got from speaking with Andy and preparing this episode. 

  • Invest time in choosing your healthcare plan. Health care can be expensive, but simply going with the cheapest option can hurt you in several ways. 
  • High deductible health plans aren’t for everyone. We have an HDHP and so far love it and so do many in the FI space, but that doesn’t mean it’s the best option for you. 
  • Use tax-advantaged accounts to maximize your money.

If you want to discuss this more, please come chat with us on Facebook in the Thriving Families Group. We’re supportive. We’d love to see you there!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime.

Additional music by Lee Rosevere and Logan from Music for Makers in this episode.

Direct download: S10E20_Open_Enrollment_Affordable_Health_Insurance.mp3
Category:personal finance -- posted at: 5:00am EDT

Today we’ll go over how the two of you can boost your savings rate while still enjoying some fun now! 

Why Your Savings Rate Matters

Last week we talked about three key numbers to track and master your money and one of them was your savings rate

How much you save on your income can have an incredible impact on how fast you reach your big financial goals.

Here’s the thing, though, unless you have a stash of cash under in house or an inheritance coming up soon, that money is probably coming out of your budget.

So how do you become a super saver without deprivation? Can you boost your savings rate and still have some fun? 

I believe you can find that balance, but you need a plan and a system to set things up. 

This is why I’m glad Joe Mecca from Coastal Credit Union is back. He’s the quintessential saver and today he’s sharing how he’s grown his savings while still having some fun. 

In this episode, we’ll dig into:

  • Finding out your current savings rate
  • Tax-advantaged ways to save more to give you a double win
  • path to notching up your savings 

Let’s get started!

Handy Tools to Increase Your Savings Rate

If you’re looking to get ahead with your finances as a family, here are key resources to check out!

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

They have competitive rates on checking and savings accounts!

Key Takeaways on Growing Your Savings Rate

Before we wrap up, I want to focus on a few key takeaways I got from preparing this episode. 

  • Start as early as possible. Don’t worry about being about to sock away 20, 30, 40% of your income. Joe said it was closer to 3-5%, which is about where we began. 
  • Pay yourself first. Automating those transfers makes it easier on you and you’re more likely to stay on target. 
  • Minimize lifestyle inflation. Take any raises, bonuses, windfalls, or tax refunds and set aside a portion of that to go towards savings. You can still enjoy some fun now and save more, without missing that money. 

If you want to discuss this more, please come chat with us on Facebook in the Thriving Families Group. We’re supportive. We’d love to see you there!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere


If tracking your money is so important, what are the key numbers couples need to know? We’ll get into the three to keep an eye on, and the real deal about credit scores! 

Why Tracking Your Money is Key to Mastering It

You hear these stories of couples who got out of debt, became financially independent, travel the world, started a business..basically enjoying life.

They all have different paths they take to get there – debt snowball, avalanche to become debt free. 

They’re saving 20, 30, or even half their income. Maybe they’re going all in with FIRE with their dual income and are investing 70% of their income. 

One of the things I love about personal finance when hearing from others is how varied it can be. Each couple has their own advantages and struggles on their journey. 

However, having written about personal finances and interviewed others for the podcast I do notice that there are certain crucial things they did to create a system that worked for them. 

I wrote about it in detail in my book Jumpstart your Marriage and Your Money, but I want to hone in on one component today  – they became aware of their money. 

And how they did it was by tracking it. 

Once they had that down, they began shifting it towards what mattered most to them. 

 

Money stopped being a source of stress and instead became a tool they could use together. 

The best part is that you don’t have to track a ton of numbers or worry about every penny. It can be something you check in on once a month. 

In this episode, we’ll get into:

  • Which three numbers matters most for gauging your financial health
  • The real deal on credit scores
  • Creating an easy system to track your numbers

Let’s get started!

Resources to Easily Stay on Top of Your Money

Here are some resources we mentioned in the episode as well as some other handy articles to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere

Direct download: S10E18_Three_Key_Numbers_for_Mastering_Your_Money.mp3
Category:personal finance -- posted at: 7:54pm EDT

Debt can be a huge weight on any couple’s budget. We cover three major ways you can start paying it off faster. We also get into how to open up if you’re carrying debt and haven’t told your spouse!

Getting Back To Dumping Debt

As if the pandemic isn’t enough stress, millions of families have to deal with the financial fallout. 

And If you’ve had to deal with job loss, reduced hours at work, or uncertainty at your job about its stability, these past few months you’re hyper aware of your cash flow. 

And because of that, any debt that you carry (maybe with the exception of federal student loans) feels like it has a bigger impact than normal. 

During our mini-series about financially dealing with the coronavirus, we discussed that building up that financial cushion is key. 

And hopefully, things have stabilized somewhat and you have those savings available should you need it. 

However you may be wondering is there a way to get some breathing room and knock out some debt before the year wraps up. 

 

I think you’ll enjoy today’s show then! 

In this episode we’ll get into:

  • A system to pay your debt off
  • ways to you can start paying it off faster
  • how to open up if you’re carrying debt and haven’t told your spouse

Let’s get started!

Resources to Dump Your Debt Together

If you two are ready to pay off your debt, here are some handy resources to check out:

Thank You to Our Partner Coastal

Support for this podcast comes from Coastal Credit Union!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!
Direct download: S10E17_How_to_Tackle_Debt_Before_the_Year_Wraps_Up.mp3
Category:personal finance -- posted at: 10:36am EDT

If 2020 has proved anything, it’s that we need to have a budget that actually works. Today we’ll dive in to see how you two can build a budget that fits you and your goals!

Build a Better Budget Together

I think a lot of people can appreciate why budgets matter because now more than ever, we’re seeing like our finances are reflecting our lives.

For those of us who’ve been hit hard by the pandemic, either directly or indirectly, the budget has had to be completely redone.

But even if things are relatively stable job-wise, we’re still reflecting on how we could do better. 

A budget is not going to fix all of our problems, but a good budget – the one we actually enjoy and can stick with – that can be a huge help and stress relief. 

But how do you make a budget that fits your family’s circumstances and goals? How do you make one that still allows some room for fun? 

While I enjoy helping couples figure out their budget, I brought in someone who understands and enjoys budgeting. 

Get Your Free Money Toolkit
Learn how you can quickly & easily set your money up to dump your debt faster!
Featured Image
 

Peter Polson the founder of Tiller, a fantastic and customizable budgeting tool, he’s also a husband who understands firsthand that it takes effort to find a budget that fits your goals. But it’s so worth it. 

In this episode we discuss:

  • Defining your budget’s priorities
  • The two biggest obstacles couples face  with budgets
  • How to build a better budget together

Let’s get started! 

Resources to Easily Stay on Top of Your Money

Here are some resources we mentioned in the episode as well as some other handy articles to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere

Direct download: S10E16_Building_a_Budget_That_Reflects_You_and_Your_Goals.mp3
Category:personal finance -- posted at: 7:11am EDT

Here are some key takeaways to help you get through and start building some financial stability!

Pivoting Your Finances Through New Habits

I hope you are doing well, are safe, and healthy. 

We’re just starting June but I think Jason Vitug pointed out on Twitter, “This is indeed the longest shortest year ever.”

I started this mini-series after the pandemic created a hard stop on so many things. Things are starting open up, but many couples in our community are still dealing with the financial fallout. 

Depending on where we were on our financial journey, our experiences can seem tremendously different. 

With the mini-series, I wanted to address a few of those different scenarios. The first episode was geared for those who had seen their income drop due to fewer hours or loss of a job. 

The next episode was those of us who are treading water to speak – still have their jobs, but no safety net if that changed. 

This episode I want to talk about what you can do if you were further ahead in your finances. How can you use this experience and turn this into something positive? 

How can we pivot our finances? And bigger picture – can we use these lessons learned not just help us, but in a position to help others too?

Certified Educator in Personal Finance (CEPF®) Bob Lotich is on today to share what habits he and his wife Linda changed on his and eventually their journey together towards becoming debt-free. 

 

Joe Mecca from Coastal is back on to share some takeaways on shifting our finances and coming up with a plan during these tumultuous times. 

In this episode we’ll get into:

  • Crucial steps you can take to shift habits and your money
  • We’ll also dive into how to get your spouse on board
  • Lessons we can take from this crisis to use to better prepare ourselves and help others

Let’s get started! 

Resources to Easily Stay on Top of Your Money

Here are some resources we mentioned in the episode as well as some other handy articles to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

If you’re a member and you’ve been financially affected by the coronavirus, Coastal has a member assistance program to ease the burden.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere and Audiio.


We know we need an emergency fund, but how can we do that in the middle of the coronavirus crisis? Today we’ll share the strategies you can use now to get a jumpstart on saving!

How to Save Money 

Right now many states are opening up, but we’re still encouraged to stay home as much as possible. 

And that’s most likely affected you on several levels, including your finances. 

Last episode, we discussed steps you can take to shore up your budget and handle the bills when you’re dealing with a job loss or significantly reduced hours. 

This week, we’re switching gears and digging into one of the fundamental things you need to have – savings. 

We’ve heard it so many times, we need to have an emergency fund. Now it’s really both a necessity with routines, work schedules, and budgets being in flux for at least the next few months. 

But can you save and build up your financial cushion during a time like this? How can you create a plan when you’ve been thrown into the middle of all this? 

On the podcast, I have Jeff Anzalone from Debt Free Doc here to share how he and his wife got to that point. 

As you just heard in the teaser, when he first started things, they looked like a mess. The job he had planned on taking fell through. So here he was dealing with a massive amount of debt, no job, and a wife and baby to take care of. 

So in this interview, we’ll get into how they came up with a plan quickly. We’ll also get into not just the process he used to get out of debt, but what changes they had to make with their budget and more to start building savings and more. 

 

We also have Joe Mecca from Coastal back on the podcast. He’s a natural saver so he is sharing tips on how to make the process easier and less stressful. 

In this episode we’ll get into:

  • Why and how much you need to save
  • Creating a plan on the fly
  • Ways you can build up that financial cushion ASAP

Let’s get started!

Resources to Easily Stay on Top of Your Money

Here are some resources we mentioned in the episode as well as some other handy articles to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

If you’re a member and you’ve been financially affected by the coronavirus, Coastal has a member assistance program to ease the burden.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere and Audiio.

Direct download: How_to_Master_the_Art_of_Saving_During_The_Coronavirus_Crisis.mp3
Category:personal finance -- posted at: 9:00pm EDT

Many families are dealing with the financial fallout from the coronavirus, including losing their income and jobs. See how you can adjust your budget and get the resources you need to ride out these tough times! 

How to Cope with Job Loss 

As of right now, around 30 million Americans have filed for unemployment in the past six weeks.

Besides the health risk of coronavirus – which should NOT be ignored or downplayed – a huge concern of this crisis is the financial fallout. 

 How do we keep going through these tough times? 

Which is why I wanted to do this mini-series. 

Part of the challenge – at least to me as I’m putting this together – is reading, hearing, and seeing how different things play out depending on many factors.

Yes, we’re in this together, but for a couple who’s lost one or both incomes, or one that’s seen their retirement savings seemingly crash, those are completely different ball games than a couple who’s trying to balance taking care of their kids at home while working remotely for example. 

Each has its own challenges and so what I decided to do is break up the mini-series episodes based on different situations families may find themselves in. 

There are key takeaways, I think all of us can learn from and pick up, but I did want to highlight some scenarios so this mini-series can be helpful and relevant as possible. 

And they are based on what you’ve sent in about what you’re dealing with right now. 

So thank you, I’m grateful to have your input on this. 

Today I want to talk about one of the biggest ways many couples are being financially affected by this – loss of income. 

Whether it’s being furloughed, seeing your hours drastically cut, or losing it altogether – it can be a heavy weight on you. 

Ani is sharing her story about how she’s dealing with it. 

We also have some fantastic experts like personal finance author Toni HusbandsCoastal Credit Union’s Joe Mecca, and small business consultant Sylvia Inks.

They’re offering tips and resources to help make ends meet and steps you can take to shore up your finances not just now but in the long run. 

In this episode, we’re discussing:

  • Dealing with losing your job and what you can do get some income coming in
  • Adapting your finances 
  • Smart ways you can spend your stimulus check

Let’s get started!

Resources to Easily Stay on Top of Your Money

Here are some resources we mentioned in the episode as well as some other handy articles to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

If you’re a member and you’ve been financially affected by the coronavirus, Coastal has a member assistance program to ease the burden.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere and Audiio.


Today we’re going to jump in on ways you can adjust your finances during the coronavirus crisis to get through these tough times!

Today we’re going to jump in on ways you can adjust your finances during the coronavirus crisis to get through these tough times!

Getting Your Finances Stabilized During the Coronavirus Crisis

Even though it’s been less than a month since schools closed here in Raleigh, it feels like a lifetime ago.  

And chances are things can feel that way to you. 

Right now it’s estimated that over 300 million here in America are under stay at home orders

I truly hope that you’re doing well and that you’re able to work remotely or at least have some steady income coming in. However, I know from emails that some have seen their hours drastically reduced, they’ve been furloughed, or they’ve been laid off. 

It’s tough to figure out the next steps when we’re in the middle of things, but there are ways we can prepare and pivot to get through these financially tough times. 

Joe Mecca, VP of Communication at Coastal Credit Union has been out there letting those in the community know what resources out there. 

Today he’s on the show to discuss things you can do now and over the next few months. 

In this episode, we’ll get into:

  • Figuring out how to reprioritize your budget
  • How much of a financial cushion should you have with these certain times
  • Where to look for relief programs (more than just the CARE Act)

Let’s get started! 

Resources to Easily Stay on Top of Your Money

Here are some resources we mentioned in the episode as well as some other handy articles to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

If you're a member and you've been financially affected by the coronavirus, Coastal has a member assistance program to ease the burden.

How to Reprioritize Your Budget

Let’s jump right in to the big issue that is stressing out many families – how are we going to pay our bills?

We’re grateful to still be able to work remotely, but that isn’t the case for all. Some industries like restaurants, hospitality, and service have seen been hit hard, with many losing their main source of income. 

I was reading that in the week that ended March 28, over 6.6 million people filed for unemployment

So if you’re in that situation where you are looking at struggling to budget, how do you prioritize what bills get paid?

When things were closing down and the Cares Act hadn’t passed, Any Hill from Marriage Kids and Money and I shared  our thought process in a video on the Thriving Families group. 

It was about focusing on two goals for the month – pay your essentials (roof over your head, food, utilities) and building up your emergency fund if you didn’t have at least 3 months stashed away already. 

And I do believe that they should be your priorities, but with some relief options being offered by lenders, protections from states and the Cares Act, Joe points out a path you can use in your budget.  

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere

 

For many couples, getting their house to sell for top dollar can help them hit crucial financial goals. Today we’ll go over what you need to know to get a great price when selling your home! 

Selling Your House for Top Dollar

Before we begin, I want to give a disclaimer that this episode’s topic and interview were done before the volatile landscape we find ourselves with the stay at home order in NC due to the coronavirus. 

I’m releasing it now for a few reasons:

  1. At some point in the future, these restrictions will be lifted and so now could be a time to start taking steps around your place to get it ready for sale
  2. I just saw a house in the neighborhood put a for sale up this week (dozens of listings new – or within the last 24 hours)- so people are trying to move on as best they can
  3. With things shifting including jobs, many couples in the relatively near future may have to move 

So while there may be an immediate pause on house tours, with this time many of us have at home, I thought it would be practical to get into ways to prepare so if you do sell when it’s time, you have what you need to get it done. 

I’m very grateful to have one of my favorite real estate experts back. Louis Guillama is the Vice President of Real Estate Operations over at Coastal Credit Union. 

In this episode we get into:

 
  • The biggest mistakes couples make when selling
  • How to Stage Your House to Sell 
  • How to decide if you should fix and update your place to able to sell it for more

Let’s get started! 

Handy Money Resources for Selling Your House (and More!)

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

If you need an agent, Daymark Realty has a fantastic team ready to help find the perfect house for you in the Triangle area!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

 
Direct download: S10E14_How_to_sell_Your_Home_for_Top_Dollar.mp3
Category:personal finance -- posted at: 8:11am EDT

No one likes to think about it, but preparing for the unexpected can give you some peace of mind now and protect your loved ones later! This is the essential guide to will s and estate planning for busy parents!

Creating or Updating Your Will

No like to think about it, but preparing for the unexpected can give you some peace of mind now and protect your loved ones later! This is the essential guide to will s and estate planning for busy parents!

So heads- this episode’s topic and interview was planned and done before things changed these last few weeks due to co-vid 19.

I say this because I’m not trying to add to the anxiety. I actually believe that if you are staying home and you’re healthy, now would be a good time to take care of certain matters that maybe have been on the back burner because you haven’t had much time.

And taking care of your wills, picking legal guardians, and making life insurance is up to date – these are important.

So I decided to stick with the schedule on this episode.

There are so many we can’t control, it can be empowering in a way to focus energy on the things we can.

But when you making or updating your will, it may seem that’s too big of an issue to tackle. Today I want to break it down into manageable chunks so you can make some progress on that.

Alison Kade from Fabric is here on the show today to decode and explain the essentials of how wills work. 

 

In this episode we’ll discuss: 

  • Why you need to plan now
  • Basic terminology every couple should know
  • How parents can prepare for the unexpected

Let’s get started! 

Resources on Estate Planning

If you want more information about setting things up for your loved ones and mage your money now, here are some resources to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.


While things are really fluid right now and some big decisions are still up in the air, it's important to review and if necessary reprioritize things with your finances.

Today I'm sharing 4 tips to help you prepare your finances to weather out the tough times!

Resources to Manage Your Money Easier

Her Dinero Matters

Her Dinero Matters is a bilingual podcast for women who want to become reinas of their money and love their money more. 

Join Jen Hemphill, a former extreme frugalist turned reina of your money advocate each week for your dose of money confidence.

You will hear down-to-earth interviews and panel discussions from Latina community as well as solo episodes sharing simple actionable tips and strategies which you can implement right away. 

The best part is, Jen also offers some premium perks, such as special access to a community of like-minded women for a deeper discussion on latest episodes, monthly bonus mini-episodes, as well as a monthly PDF worksheet for that month’s money challenge, available exclusively through the Himalaya app.

The best part is, if you sign up now, you can use promo code DINERO at checkout for your first 30 days, free! So head over to the Himalaya app and check out Her Dinero Matters now. 

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

Direct download: Tips_to_Financially_Prepare_for_Tough_Times.mp3
Category:personal finance -- posted at: 7:11pm EDT

One of the stickiest situations with couples is dealing with lending money to family. Find out different ways you can help without putting your own finances in jeopardy!

Should We Loan Money to Family and Friends?

Lending money to friends and family can be a tough situation. No matter how objective you think you are or want to be, emotions can run high. 

As you just heard with Jen, she and her husband weren’t seeing eye to eye on how they could help their loved ones. 

I totally get it – we’ve been there ourselves. Maybe you’ve gone through that situation too. 

Or with how things are going with Covid-19 and families being affected by these closings, some of your family and close friends will need some help soon, including financial.  

Now for most of us, we want to help. And if we have the means, we do. 

However, there are times when things are a bit more…messier. What if you want to help, but you’re just finding your financial footing yourself? 

What if you have a relative who keeps on having problems with their finances, where you are constantly bailing them out? 

Those are the types of situations where we tend to stress over and sometimes get into arguments. 

Family and money can put a strain on a marriage; which is why I’m happy Jen Hemphill is here on the show. She’s an accredited financial counselor, author, and the host of Her Dinero Matters podcast.

In this episode we’ll get into:

 
  • how to decide whether lending loved ones is really helping them or enabling
  • ways you can assist them without loaning money
  • how you can work out a loan with less stress

Hope this episode helps!

Resources to Deal with Family and Finances

If you two want to make managing your money easier, here are some helpful tools, books, and apps available.

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

Meet Jen Hemphill of Her Dinero Matters

Her Dinero Matters is a bilingual podcast for women who want to become reinas of their money and love their dinero more.

You will hear down-to-earth interviews and panel discussions from la comunidad Latina as well as solo episodes sharing simple actionable tips and strategies which you can implement right away!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere and Audiio.

 

Direct download: S10E12_How_to_Loan_Money_to_Family_and_Not_Regret_It.mp3
Category:personal finance -- posted at: 8:00am EDT

Learn how you can stay on top of your money with some of the best apps while also protecting your finances, privacy, and data!

Finding the Best Money Apps for Couples

Chances are if you’re listening to this podcast you do a lot of your banking and finances digitally. 

In a survey by Federal Reserve Bank, they found that 71% of bank customers regularly use online banking and 43% use mobile

For us, the convenience is hard to beat. I can do pretty much everything I need from home or my phone, including depositing checks, scheduling payments, and transfers. 

I believe the last time I had to step into a branch was for the notary a few years ago.

The other side of living in a world with digital banking is that we have to be savvy about securing our finances and data. 

Data breaches, phishing, and more sophisticated scammers happen and are out there, so how do you take advantage of the new apps and options out there?

There’s a lot to cover so today I’m happy to have two experts on. 

We have David Jamshid, Vice President Of Software Development at Coastal Credit Union. We also have Sam Shutz co-founder of Honeyfi on. 

 

In this episode we’ll get into:

  • Key ways you can secure your accounts so you can guard your data and finances
  • The pros and cons of free and paid apps
  • Top apps out there for couples to manage their money as a team

Hope you enjoy! 

Resources to Bank Digitally

Here are some resources we mentioned in the episode as well as some other handy articles to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

They also have competitive rates on their business checking and savings accounts!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

 

Direct download: S10E11_Digital_Banking_and_Finances_for_Couples.mp3
Category:personal finance -- posted at: 8:34pm EDT

Carla Titus shares the realities of running a profitable business from home and how she and her husband created a system that fits their goals and family life!

The Realities of Starting a Side Hustle from Home

Nowadays it’s become more common for couples and families to diversify their income.

Whether it’s because they looking to knock out some debt, save up for a house or another goal, or they want to pivot their career, couples are looking at side hustles. 

We’ve had several episodes about the essentials of starting a side business, but one of the biggest struggles many have is sustaining it. 

Whether it’s working around your family or day job, the reality is you only have so much time. How do you make it work? How can you start and build a business? 

Carla Titus is on the show today to share her expertise and her story. 

She is the CEO of Wealth and Worth where she uses her over ten years of corporate financial planning, analysis, strategy, and startup CFO experience to help entrepreneurs take control of their finances and level up their business.

In this episode we’ll get into:

 
  • Finding not that balance, but the flow between family and your side hustle
  • When to outsource 
  • how to get the pricing right – many entrepreneurs struggle with this

Hope you enjoy!

Resources for Launching a Side Hustle

Here are some fantastic resources to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

They also have competitive rates on their business checking and savings accounts!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

Direct download: S10E10_How_to_Build_a_Profitable_Side_Hustle.mp3
Category:personal finance -- posted at: 7:39am EDT

Most couples marry their financial opposite, which can be a blessing or a recipe for disaster. Learn how you two can become a team and create a budget and money system you both love!

Marrying Your Financial Opposite

Did you know that 75% of divorced couples cite money as the cause of their marital issues?

With something causing that big of any issue, you’d think we’d try to become more proactive with making sure that finances

But for many couples, the conversations don’t happen.

There’s a tendency in a lot of marriages to not talk about money until something goes wrong.

The budget is broken or you’re struggling to hit a goal you made for the year.

One reason couples don’t talk about money is that they’re trying to avoid a fight.

Maybe they’ve had a blow-up in the past about certain spending and they rather not hash that out again.

Perhaps they couldn’t come to an agreement on something that should be simple like the budget.

This can especially be the case when you’re financial opposites.

However just because you’re financial opposites don’t mean you can’t work as a team with your money. In fact, for some couples, their differences became an advantage as they tackle goals like dumping debt, saving up for a house or investing in their future.

How do you get there though? How do you mesh those differences into strengths?

Scott and Bethany Palmer, The Money Couple are on the podcast today to chat about how to get started with talking about and working through your financial issues and goals.

 

They were financial advisors and noticed how their married clients were struggling with money. They’ve been focused since on helping spouses work with their different approaches to finances and become a team.

In this episode we’ll get into:

  • how money differences show up in our daily lives
  • understanding and respecting one another’s different perspectives
  • how to approach money talks so that they’re productive

Hope you enjoy!

Resources to Help You Merge Your Finances

If you’re looking to get better with your finances together, here are some helpful posts to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

They also have competitive rates on their checking and savings accounts!

Meet Scott and Bethany Palmer

With 50 years of combined experience as financial advisors, Scott & Bethany Palmer (aka “The Money Couple”) have witnessed these conflicts firsthand.

After watching so many couples struggle over money, Scott & Bethany set out to find out why. After a decade of research with a Stanford scientist, they cracked the code to stop the money issues that so often lead to divorce.

They discovered that money “issues” aren’t really about dollars and cents — the real problem is a couple’s struggle to communicate about and agree on money.

They developed The 5 Money Personalities to help couples understand their own unique perspectives and behaviors when it comes to money, learn more about their partner’s money personalities, and better communicate in a way that builds rich relationships

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

Direct download: S10E9_How_to_Work_as_Team_When_Your_Financial_Opposites.mp3
Category:personal finance -- posted at: 9:29pm EDT

It’s not uncommon for a spouse to have a secret credit card or have more debt than they’ve told.

Financial infidelity can ruin a marriage. Learn how you can set up a financial system that allows you to be open and honest with your finances and work together with money!

Financial Infidelity in Your Marriage

In this episode we’ll get into:

  • Red flags or signs that financial infidelity might be an issue 
  • Working to regain trust after financial infidelity
  • Creating an open and transparent system for your money together

Resources to Help You Merge Your Finances

If you’re looking to get better with your finances together, here are some helpful posts to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

 

We’ve been Coastal members for a few years have been happy with their services.

They also have competitive rates on their checking and savings accounts!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

 

Merging finances is more than combining bank accounts. It’s working together with the good, bad, and awkward, including dealing with debt.

Today we’re discussing the legalities of who’s responsible for what, credit scores, and how to dump debt together!

Marriage and Debt

Marriage is about two lives coming together. It can be a wonderful feeling to know you have someone to watch your back through thick and thin. 

Part of coming together is dealing with your finances together and for many couples debt is a chunk of it.

Between credits cards, car and student loans, and maybe a mortgage, the two of you could be starting your marriage in the negative

As a couple you know paying down is the way to go, but you have other concerns on your mind. If one or both of you come in with debt, who’s legally responsible? 

What about the debt you take on after you’re married? What if you two have drastically different credit scores? How will that affect plans that you have – perhaps buying a house down the line? 

Which is why I’m happy Leslie Tayne is here today. Leslie is an attorney who specializes in debt resolution. With almost twenty years of experience, she helps clients get debt relief and resolution. 

She’s sharing her expertise on how debt can affect your finances and marriage.

 

In this episode we’ll get into:

  • Who’s responsible for what legally when it comes to debt
  • Dealing with common situations that can come up when one spouse has a higher credit score than the other
  • Ways to talk about debt and work as a team to get rid of it.

Let’s get started! 

Resources to Dump Your Debt Together

If you two are ready to pay off your debt, here are some handy resources to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

They want to help you achieve your biggest goals faster and as a team!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

 

 

Direct download: S10E7_Yours_Mine_Ours_Debt.mp3
Category:personal finance -- posted at: 8:14am EDT

Getting on the same page with finances can be tricky. Learn how you can communicate better with your spouse about money and more!

Why We Fight About Money

No one wants to have money be this source of stress in their lives, not in a strictly financial sense where you’re worried about the bills and definitely not in your marriage. 

And yet, it is usually listed as one of the top reasons spouses have fights

And if you have debt? It’s even more of an issue. In one study, with couples who carried debt, they found that 48% of those with over $50,000 of debt listed money as stress point compared to 23% of those with less than $10,000.

It makes sense, right – if you have the more debt you have, the more your current income is tied up to pay it. 

So then couples usually want to come up with some plan to pay off their debt, but they hit a wall when it comes to making and executing that plan. There’s too much tension and blame to get things rolling. 

But if you’ve listened to this for a while, you’ve heard stories of couples who have overcome some huge issues like massive amounts of debt, being hit with financial infidelity, or being on the brink of bankruptcy yet they managed to come out stronger paying off massive amounts of debt.

How do you get there though? 

Through better conversations about money and more. It’s not easy to get started so today Traci Philips is going to share how we can better communicate. 

 

As a Leadership & Performance Strategist, Traci assists her clients in identifying core challenges with her unique strengths in translating both verbal and non-verbal language. 

Into this episode, we get into:

  • Better Understanding Where Our Spouse is Coming from with Money
  • Common mistakes couples make when talking about money
  • How to work through disagreements to diffuse a potential money fight

Let’s get started! 

Resources on Marriage Fights & Finances

Want to learn more and become more productive with your money dates? Here are some resources to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

They also have competitive rates on their checking and savings accounts!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

Direct download: S10E6_How_to_Diffuse_Money_Fights.mp3
Category:personal finance -- posted at: 10:09am EDT

Tax season is here and with it the stress of getting your taxes done right.

We’ll look at some ways you can simplify, organize, and maximize your tax deductions and credits this year and set yourselves up for big wins next!

Tax Tips for Making Filing Easier

Now before we jump into this episode I want to be clear about one thing. 

 I’m not a tax expert.

Not a CPA.

Not an EA (that’s an enrolled agent). 

But even if I was, I cannot give tax advice to you on this podcast because every family is different. 

And that means so are your taxes.

However, there are several key areas where many of us -especially busy couples, couples who are juggling so many things like kids, work, finances, side projects, and more  -should be paying attention to because they have a huge impact on how things go for us when it comes to taxes. 

And I got some good news - I’m keeping this episode on the shorter side. 

Why? 

If you’re a regular person like me, taxes are not the most exciting thing. 

However we have seen how important getting our tax done has been for our finances -both with planning throughout the year as well as using our refunds to reach our financial goals faster.

And I want you to see taxes in a better, maybe less stressful light.

In this episode we’re looking at: 

  • Decoding key tax items (like tax credits versus deductions) so you can be better prepared when filing
  • How to make sure your paycheck is working you - you may be leaving money on the table
  • Accounts to Maximize Your Finances Now and Later

I want to make things less stressful for you so you can knock out your taxes. 

Sound good? Let’s get started! 

Resources to Tackle Your Taxes

Looking to make taxes less stressful? Here are some of my favorite resources!

And if you want to discuss this more – ask questions, swap ideas, and maybe get a debt-free strategy set up – don’t forget to join us in the Thriving Families group on Facebook.

Our goal is to help one another out. Hope to see you there!

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

They want to help you achieve your biggest goals faster and as a team!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

 
Direct download: S10E5_Tax_Guide_for_Busy_Couples.mp3
Category:personal finance -- posted at: 10:11am EDT

How can you structure your finances so you can have more options and flexibility? 

One path that’s helped many families is working towards financial independence. For many families, though, it seems like an unrealistic goal. 

They assume that if they’re not making six-figures or if they have kids, they’re unable to achieve it. 

What you might not be aware of is how practical the principles behind FI can be for you. 

By applying the mindset, habits, and strategies you can not only improve your finances but give yourselves more opportunities to build your life around who and what matters to you. 

That’s why I’m excited that today we have Brad Barrett, co-founder of ChooseFI.

Brad Barrett went from being a full-time CPA to retiring with complete financial independence by the age of 35. 

Now, through ChooseFI, he’s empowering others to live more intentionally and get on the path towards financial independence!

In this episode we’re looking at: 

 
  • How to save on the three biggest expenses 
  • How to persuade your spouse to try to FI 
  • How to get to FI while still enjoying your journey

Let’s get started!

Resources to Get on the Path to Financial Independence

Are you two serious about becoming financially independent?

Here are handy resources mentioned in the episode along with extra tools to help you optimize your money together!

And if you want to discuss this more – ask questions, swap ideas, and maybe get a debt-free strategy set up – don’t forget to join us in the Thriving Families group on Facebook.

Our goal is to help one another out. Hope to see you there!

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

They want to help you achieve your biggest goals faster and as a team!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

Direct download: S10E4_Teaming_Up_for_Financial_Independence.mp3
Category:personal finance -- posted at: 8:09am EDT

Are you looking to speed things up with your money goals? We’ll look at how you can earn extra money on the side so you can build your net worth!

Earning Money from Side Hustles is Only One Path

Many couples want to pay off debt faster, save for a house or start investing and the problem is cashflow is currently tight.

Real tight. 

One of the things I suggest is looking at your budget, but sometimes the issue is that there isn’t enough income coming in. 

Whether it’s through a one time occasional deal like selling your stuff, running a side hustle, or starting a possible career change, it’s going to take work. 

So before you make the leap, I thought it would be helpful to get an idea of the different ways you can earn more this year. 

My hope is that you’ll get a better idea of what would best for your situation and goals. 

Today’s guest Joseph Hogue is a personal finance author and creator of Let’s Talk Money who has built several income streams into businesses.

I also have Louis Guillama, Vice President of Real Estate Operations at Coastal Credit Union sharing his take about the pros and cons of getting into real estate. 

 

In this episode we’ll go over:

  • Finding opportunities to earn income when your schedule is tight
  • Breaking into the gig and side hustle economy
  • Thinking long term and get more involved with your  income streams by looking at real estate investing

Let’s get started! 

Resources to Start Earning More Money on the Side

If you’re looking to earn more so you can knock out your big money goal, here are some resources to check out. 

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

They have wonderful services and accounts to make saving easier including their competitive money market accounts!

Support the Podcast! 

If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word. If you have friends who could boost their savings, please share this episode with them on social media or just email the link!  
  • Leave a review. Every review helps! Please share your honest feedback on Apple Podcasts or Stitcher
  • Visit our Couple Money Toolkit for more info on available apps, tools, and services to master your money together.
  • Become a Patron. 

Special Thanks! 

Like the music in this episode? Our theme song is by Gentle Regime. I also want to thank Lee Rosevere for music in this episode.

 

Direct download: S10E3_Build_Income_Streams_to_Knock_Out_Your_Goals_Faster.mp3
Category:personal finance -- posted at: 6:44am EDT

Whether you’re saving for emergencies, a vacation, or a house, you have to have some way to stash away that money.

We’ll look at some popular savings hacks and how to find the best savings option for you!

Are you saving up for something big this year? If you are, you have plenty of company. 

Fidelity released its 2020 New Year Financial Resolutions Study and found that 53% of those surveyed who were planning on working these finances had saving more as their goal

That’s great news considering on average, we’re not really saving enough. 

According to GoBankingRates when they asked more than 5,000 adults their savings balance, 58% had less than $1000 saved and 32% admitted to not having anything at all in their savings. 

That is a really vulnerable position to be in. 

So if you want to turn things around and really ramp up your savings, I think you’ll enjoy today’s episode. 

I’m sharing the best tips and stories from one of the super savers and favorite guests I’ve had on this podcast.  

 

Financial educator and Journey to Launch creator Jamila Souffrant and her husband saved over $80k  one year while living in NYC

More interestingly is how she was able to get him on board. Great ideas on how to approach not just the process, but enjoy the journey together. 

Joe Mecca from Coastal Credit Union and another super saver is also back on to break down his goals for this year and how he’s saving for them. 

In this episode we’re looking at: 

  • why your savings rate matters
  • Where and how to get started with savings in your budget
  • how to set things up so you’re automatically saving more while still enjoying life

Let’s get started! 

Want to start boosting your savings rate? Here are some resources to check out:

Support the Podcast! 

If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word. If you have friends who could boost their savings, please share this episode with them on social media or just email the link!  
  • Leave a review. Every review helps! Please share your honest feedback on Apple Podcasts or Stitcher
  • Visit our Couple Money Toolkit for more info on available apps, tools, and services to master your money together.
  • Become a Patron. 

Special Thanks! 

Like the music in this episode? Our theme song is by Gentle Regime. I also want to thank Lee Rosevere for music in this episode.

Direct download: S10E2_How_to_Become_Super_Savers_This_Year.mp3
Category:personal finance -- posted at: 8:27pm EDT

One of the top three financial goals people have is getting out of debt, but few actually knock it out. Today we’re diving into key money systems couples have used to become debt-free!

Best Strategies for Couples to Dump Debt Faster

How are you doing?! I hope you’re having a wonderful week.

We’re back. New Year, a new season of the podcast.

I want to start off by saying thank you. Your support has been incredible and because of it, we’re here for season 10!

When I started the site Couple Money and even the podcast a few years, my goal was pretty simple.

Help couples not only get their finances in a good spot but find a way for money to be a way to work together instead of being a source of stress.

Whether you’re paying down debt, saving for a dream, or going down the path of financial independence, the main focus is doing it as a team.

We’ll definitely be covering that this season again, but there’s another issue I’ve been seeing that has added a layer of unnecessary stress when it comes to finances.

As I look at my newsfeed on my phone or catch some stories that get picked up, I just see this trend of HUGE stories.

Debt-free stories where the couples have paid massive amounts of debt – six-figures- in a crazy short amount of time.

Couples who have saved 60%, 70% of their income in a year.

These are incredible stories and I’ve found them at times to be motivating and challenging us to look at how we spend money.

I’ve even had a few of them on the podcast.

However, when these are the stories that get picked up again, and again, you kind of get a bit fatigued and when the headlines only tell part of the story – like the fact they were making incredible amounts of money, then you can feel discouraged.

Add on that many of these stories don’t talk about that key step – aligning your goals and getting on the same page.

If you’re not there, then you almost can feel like throwing up your arms and just giving up.

I don’t want to give up. I would love for you to tackle those big goals, but more importantly, I want you two to feel comfortable and excited about the plan you two carved out for yourselves.

How?

By acknowledging while there are certain financial principles that are incredibly helpful, we all have different approaches to how we tackle our goals.

Today we’re going to do that with one of the most common goals families have with their finances – paying off their debts.

Today I want to share some guests we’ve had on the show who have become debt-free, but had different amounts and time tables.

In this episode we’re looking at:

  • The step by step process of how to set up a system to pay off your debt faster
  • Some of the most common hangups couples have with becoming debt-free
  • Tools and apps to make it easier

Let’s get started!

If you’re looking for some more inspiration, tactics, and encouragement about becoming debt-free together, please check out my interview with Chris Browning.

Resources to Pay Off a Mountain of Debt

If you two are ready to pay off your debt, here are some handy resources to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

They want to help you achieve your biggest goals faster and as a team!

Your Debt-Free Plan

And if you want to discuss this more – ask questions, swap ideas, and maybe get a debt-free strategy set up – don’t forget to join us in the Thriving Families group on Facebook.

Our goal is to help one another out. Hope to see you there!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

Direct download: S10E1_How_to_Get_Out_of_Debt_This_Year_as_a_Couple.mp3
Category:personal finance -- posted at: 7:36am EDT

Money can be a huge source of stress, but it doesn’t have to be.

Today I’m going to share 5 ways you can simplify your finances so you two can enjoy your marriage and money!

Simplify and Reboot Your Money

How do you feel about the progress you’ve made this year with your finances?

If you’re not quite happy with where you are right now, don’t panic. There’s still plenty of time to reset and reboot things with your money.

Since my Dump Debt Together session aired last Monday as part of the Mamas Talk Money Summit, I have been keeping busy answering some of your questions about changing things up for the better.

I’ve noticed that the biggest concern is getting the ball rolling.

You’re more than welcome to dig around the site and podcast. With over 1,000 articles and 300+ episodes, we cover a lot here on Couple Money.

But I know that approach can make you feel overwhelmed so today I want to wrap up this special series on the podcast with how you can get started.

In this episode we’ll look at:

  • habits to develop that will make your finances much easier to handle
  • key numbers to track (and which to pass on)
  • An easy way to reboot your money

Hope you enjoy!

Resources to Hit Your Money Goals

If you two are looking to improve how you talk and work together with your finances (and lives), please check out these resources.

If you want to discuss talking with your spouse about money, ask questions, or share your own tips please join us over at Thriving Families on Facebook.

5 Ways to Simplify Your Finances

Whether you’re the spreadsheet king or queen or more the big-picture person, I think we can all agree that we want to streamline our finances so you can focus on the people and things that matter to us.

You can really dive into the weeds with finances and debate the minute, but if you’re looking for big wins not only with your money but your marriage, here are 5 things you need to focus on.

#1: Go on Regular Money Dates

Why do I talk about money dates so much? It’s because they work!

Pretty much every couple whose paid down debt, saved a significant amount, or is on the path to financial freedom does this.

They may call it something else (like Andy and Nicole with their budget parties 🙂 ), but the idea is the same.

Having a regular time where you’re in a relaxing and low key environment to get together to discuss your dreams and your money

It can be a night out at one of your favorite restaurants or you’re just in the backyard relaxing with a glass of wine by the firepit.

Wherever and however you have your money date, you want to make sure you look at the goals you’ve created together (your WHY) and then review your numbers.

Knowing your budget, your monthly cash flow, and net worth is smart.

If you’re not sure how to start or even begin the conversation about finances, pick up my Jumpstart Your Marriage and Your Money.

I take you step by step through money dates, with conversation starters and ice breaks. I also share a 4-week plan to get you two on the same page with money.

#2 Switch to a 50/30/20 Budget

If the idea of making a budget makes you break out in hives, then you have to switch things up.

Typically when someone is complaining about a budget, there are a few key reasons. The root of it for many is that there’s no room in the budget for what matters to you. It’s so strict, you can’t any fun with things.

And while that might look like a good idea on paper – you think you’re going to get out of debt faster or hit your goal sooner – it’s usually an exercise in frustration.

Sustainable is the way to go and for most couples, it’s a process and one of the best budgets to get you started on that path is the 50/30/20.

As you probably figured out, your money (net income in this case) goes into one of three ‘buckets’ of expenses.

  • 50% Essentials: This covers your ‘needs’ like rent/mortgage, food, utilities, and necessary transportation.
  • 20% Financial Priorities: This money is allocated for your future such as investing for retirement and taking care of important money goals now like having an emergency fund and paying off your debt.
  • 30% Wants: These are your lifestyle choices. What do you two enjoy?

#3: Automate Your Budget

A simple trick that’s helped us is scheduling the bills to come out 48 hours after the deposits gone in.

You can use track your progress with apps and options such as:

  • Personal Capital – If you have a ton of accounts between you, this makes it easy to sort them out.
  • Tiller – Love how easily you can customize it based on your unique budget.
  • Zeta – Created for couples, by couples, Zeta is designed around how you two want to share your accounts.
  • Honeyfi – One of the first on the couple money app scene and very focused on getting you to share goals.
  • Mint – If you’re looking to get a handle on your budget, Mint is a very visual way to see what’s happening.

Don’t forget that along with bills, you want to automate things like your debt snowball or if savings if that’s your goal.

#4: Only Use Cash When Eating Out

Chances are eating out is a big expense with your monthly budget. Those quick lunches with coworkers seem small, but those constant convenient and on the go meals typically add up to more than you estimated.

Something that I’ve seen that’s helped me curb my spending is using cash.

There are families that like to use cash for multiple expenses and they stash them into different envelopes to track things down, but for me, that was too much work.

I’ve found that just using cash for lunches keeps me aware of what I‘m spending and minimizes me breaking the budget.

#5: Develop Laser Focus on Your Goals

Don’t try to work on all your expenses across the board. You can burn out quickly trying to slash multiple expenses at once.

I think one reason systems like Dave Ramsey’s baby steps are so effective is that they have you laster focus in on one step or goal at a time.

You begin with a starter emergency fund, then it’s all in with paying down debt, then you can fully fund your savings, and so on.

While you don’t have to be as gazelle intense as some people are – it can actually backfire with getting your spouse on board – having a priority can be powerful.

Want to optimize your spending? Try monthly challenges with one thing. Give the cash envelope a go next month.

I want you to build better habits, not go for quick wins that get undone by the next month.

If you’re pressed for time, there are options like Trim that can save you money by canceling subscriptions, finding deals with insurance, or negotiating with your cable bill.

Just focus on one thing at a time each month and by the end of the year, you’ll have some big wins.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere 

Direct download: Bonus_5_Easy_Ways_to_Simplify_and_Reboot_Your_Money.mp3
Category:personal finance -- posted at: 11:05am EDT

Today we’re into how you can shift into your debt-free journey with one question!

Dump Debt Together

It’s on!

All this week the Mamas Talk Money Summit is hosting sessions about family finances, investing, career, and kids. 

My session was out Monday night – Dump Debt Together (When You Can’t Agree How). 

I had a fantastic time! While the session was on, I was live in the chat speaking and answering questions about how to get your spouse on board with knocking out this debt. 

People had some wonderful questions and were kind enough to share their biggest money challenges. 

We got into creating a budget when one spouse has irregular income, secrete debts, and conversation starters for those initial chats about money. 

But I’m not the speaker in this event. There are about 40 amazing mama speakers that are a part of the summit and their sessions cover not only the ‘essential’ goals like paying off debt, saving, and investing but also topics they may not have as much exposure or have accessible resources.

Brynne Conroy is one of the speakers. She’s going to be this Friday as part of the kids and money sessions. 

I’ve had her on the podcast when she released her book, The Feminist Financial Handbook. She’s also the creator of Personal Finance By Women. 

Her session is Managing Your Finances With a Special Needs Child. 

In this episode we’ll look at:

  • Why Brynne’s session is needed
  • One activity you can do to get your spouse on board with becoming debt-free

Hope you enjoy!

Resources to Hit Your Money Goals

If you two are looking to improve how you talk and work together with your finances (and lives), please check out these resources.

If you want to discuss talking with your spouse about money, ask questions, or share your own tips please join us over at Thriving Families on Facebook.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere 

Direct download: Bonus_4_Mindset_Micro_Habits_and_Mamas_Talking_About_Money.mp3
Category:personal finance -- posted at: 7:48am EDT

Can’t agree on how to tackle your finances? Learn how you work together on some of your biggest money issues!

Working Through Money Issues Together

Last month, in the newsletter I mentioned that for October I was going to be focused on the theme of r resetting and rebooting your finances so you can hit your goals before 2019 ends.

I’m doing a special mini-series this month on the podcast, but that’s not the only project I’m doing.

I’m also a part of a big event happening next week that follows this idea of pushing through on your financial goals – The Mama Talk Money Summit.

The event is happening next week – October 21st through 25th.

All week during the summit, there will be sessions from over 40 incredibly financially savvy mamas and speakers. We’re talking all about:

  • Family Finance
  • Investing, Retirement & Estate Planning
  • Career & Business
  • Teaching Kids About Money

And much, MUCH more!

So whether you’re trying to knock that credit debt, get some savings stashed away, or are looking to invest for long term goals, this summit will have at least a few sessions that can help you make it happen.

And 2019 Mamas Talk Money Summit is a FREE conference that’s 100% online!

This was an important point for me because I know we’re all at different points in our financial journey, so having it be free to register was one of the reasons I wanted to join in.

The reason I’m bringing this summit up is 1) I think it’s an incredible event and resource and 2) my session is going to be about a specific hurdle that we as couples can sometimes have when we’re trying to improve our finances, such as paying off debt.

In fact, my session is called Dump Debt Together (When You Can’t Agree How).

So you’re all ready to knock debt out, but your spouse….not so much.

I’ll be sharing some ways you can dig into the real reason they’re hesitating and some ways you can use that to come up with a debt-free plan they’d want to join in on.

So if you’d like to grab your free pass, catch that session and more, please just head over here.

So the session will be a deep dive on the topic, but I want to touch on today this idea of trying to get on the same page.

Adam Kol is joining me today.

He’s a former Tax Attorney and a Certified Mediator who is now focusing on helping couples working through some of their issues.

Today we’re going to take a situation and question from someone in the community.

In this episode we’ll look at:

  • Questions to ask to get your spouse to open up
  • How to use what-if scenarios to work through issues
  • Working to keep things open and honest so that you’re making the progress you want together

Hope you enjoy!

Resources to Hit Your Money Goals

If you two are looking to improve how you talk and work together with your finances (and lives), please check out these resources.

If you want to discuss talking with your spouse about money, ask questions, or share your own tips please join us over at Thriving Families on Facebook.

Adam Kol: Couples Financial Counselor

He’s a former Tax Attorney and a Certified Mediator who is now focusing on helping couples working through some of their issues as a couples financial counselor.

Adam is providing individually-crafted, fundamentally-sound Couples Financial Counseling and training.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere 

Direct download: Bonus_3__How_to_Work_Together_with_Money.mp3
Category:personal finance -- posted at: 12:07pm EDT

Learn how you can create goals to achieve your big financial goals while avoiding burn out!

Knocking Out Your Big Financial Goals

When we started this mini-series last week about rebooting your money, I talked about how to hit those goals you have to change things up a bit.

Karen Cordaway went over how we could reframe things around the quality of our lives.

It’s not paying off debt, it’s about having money to travel more. You’re not just saving money in the bank, you’re giving yourself a building a sizable downpayment to buy a house.

This can be a powerful way to motivate yourself.

There’s another side to that puzzle – creating the goals themselves.

Since most people don’t achieve those big results that they hope for, is there a way to make them work for you so that you do make them happen?

I think so.

I believe there’s a way to achieve those ambitious goals without burning out.

And I think Joseph Hogue is the perfect person to break it down.

Since I’ve met Joseph at a conference a few years ago, I’ve seen how well he’s done with following through on his plans and goals.

Joseph Hogue worked in private wealth management and venture capital for more than a decade before freelancing as an investment analyst.

He now teaches regular people how to beat debt, make more money side-hustling and invest.

So I thought having him break down his approach would be helpful.

In this episode we’ll discuss:

  • Creating goals that fit your season so you’re not burnt out
  • Avoiding the yo-yo diet cycle with your finances
  • Uses challenges to grab big wins

Hope you enjoy!

Mama Talk Money Summit

Speaking of hitting those money goals, next week we’re talking about a special event that I’m a part of to help you do just that – Mama Talk Money Summit.

Chelsea Brennan from Smart Money Mamas has put everything together.

For 5 WHOLE days, the Mamas Talk Money Summit is bringing you presentations from over 40 incredibly financially savvy mamas who have TONS of valuable advice to share with you all about finding your financial swagger, raising kids who are money masters, and connecting with a tribe of moms who are getting smart with their money.

We’re talking all about:

  • Family Finance
  • Investing, Retirement & Estate Planning
  • Career & Business
  • Teaching Kids About Money

And much more!

So whether you’re trying to knock that credit debt, get some savings stashed away, or are looking to invest for long term goals, this summit will have at least a few sessions that can help you make it happen.

Along with the session, there will be a live Q&A with each speaker.

For example, for my session – Dump Debt Together (When You Can’t Agree How) – I’ll be online in the chat so you can ask me questions while watching it.

It’s all online and you can register and watch the sessions for FREE!

This was an important point for me because I know we’re all at different points in our financial journey, so having it be free to register was one of the reasons I wanted to join in.

The event is happening on October 21st through the 25th.

Now what I love with how Chelsea is putting this together, is that she has some fun giveaways and prizes along with the summit.

There will be over $15,000 in giveaways of money tools, courses, swag, and gifts for moms throughout the event!

So you not only can catch the most useful sessions to help you knock out your big money goal, but you can also pick up some fantastic and helpful prizes.

I hope you’ll join me and other mamas. Just make sure you grab your FREE ticket by signing up here!

Resources to Hit Your Money Goals

If you two are looking to improve how you talk and work together with your finances (and lives), please check out these resources.

If you want to discuss talking with your spouse about money, ask questions, or share your own tips please join us over at Thriving Families on Facebook.

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere 

Direct download: Bonus_2_How_to_Set_and_Reach_Your_Big_Financial_Goals.mp3
Category:personal finance -- posted at: 6:15am EDT

Today we’re looking at how you reboot your money by not focusing on the finances!

It’s now October.

The year is officially wrapping up and for many, it’s a busy season. Do you have any plans coming up? 

This month we have a family trip planned to see some of our friends and family for Virginia. 

We're looking