Couple Money Podcast

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.
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  • 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

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