We're hopping in the time machine and re-airing one of our most popular episodes.

In this episode, we share our opinion on some of the biggest money topics.

While this episode originally aired in 2019, our views have remained largely the same.

These tips have helped us grow our combined net worth to over $3.5M! So don't sleep on the fundamentals.

Some of the major topics include:

Credit Card Balances

We discuss why you should ALWAYS be using a credit card

The need for setting up autopay to pay off the full balance

Neither of us recommends carrying any balance

Rent vs Buy

Keep in mind closing costs, HOAs, insurance, etc

It’s much more complicated than just comparing a mortgage to your rent

If you can go beyond and do things like house hacking, then buying is certainly a great option

New vs Used

Justin recommends buying a car that’s 5 years old on a deal

Then keep that car for two to three years and try to sell it before you hit 100k

Good vs Bad Debt

Obviously, there is some debt that’s terrible such as credit cards with 15% interest

Then there is a middle ground where it’s debt that doesn’t earn revenue but allows you to invest more

Going to College

Going to a community college first isn’t a no-brainer

It's so important to be intentional

Many trades and technical skills don’t require a college degree

Filling Up Savings Accounts

Inflation can be destructive

Many people have avoided investing during uncertain times

Buy and hold

Life Insurance

What kind should you get?

Does whole life insurance ever make sense?

What do the experts say (our episode with Sa El)

Financial Advisors

There's value to using a tax specialist but most don't need a financial advisor

It may be a good idea to pay a one-time fee for an advisor to help set up a plan you’re comfortable with

These advisors often charge at least 1% which can really add up

You can see how much these fees are costing you by using Empower’s Fee Analyzer tool.

We truly believe these fundamentals can radically change your life regardless how far you are into your journey.

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CodyDBerman.com (Cody’s Blog)

Saving-Sherpa (Justin’s blog)