Dollars and Hops

003 | The Financial Playbook, Part 1

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Episode 003:

Dollars and Hops - The Financial Playbook, Part 1

  • The guys discuss how we all ought to prioritize our finances - beyond living and giving, what do we do with any extra money?
  • The Dollars and Hops Financial Playbook is a good framework to answer this question as you work toward your financial goals.

    • Headline of the week:Near-Zero Interest rates may be needed for up 3 years, says Dallas Fed’s Robert Kaplan

    Key Takeaways:

    • Low rates have two major impacts:
      • Low savings rates for savers.  Anyone with money in online savings accounts is going to earn very poor interest rates.
      • Low interest rates for borrowers
        • If you were thinking of buying a home - interest rates are at all time lows. 30 yr fixed - 3%, 20 yr fixed at 2.875, 15 yr fixed at 2.375%
          • If you haven’t refinanced your home, you may want to consider doing so now.  This came make a big difference in your monthly budget.


            • Introduction to the Dollars and Hops Financial Playbook

            Steps discussed on this episode:

            1. Emergency Fund of 3-6 months of expenses

            2. Pay off all high interest debt

            Websites mentioned during the podcast:

            https://www.bankrate.com/ - Great website to shop online savings rates

            Action Step: Do you have an emergency fund?  If not, think about funding one.  Have you looked at your debt and decided how you’re going to tackle it? Consider using the debt avalanche or snowball to pay down your high interest debt as quickly as possible.


            Hops Showdown

            Scott:

            Brewery: Evolution Craft Brewing, Salisbury, MD

            Beer: Jacques Au Lantern Pumpkin Ale

            Type: Pumpkin Ale

            Score: 88


            Lance:

            Brewery: Elysian Brewing, Seattle, WA

            Beer: Night Owl Pumpkin Ale

            Type:  Pumpkin Ale

            Score:    92

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