Summary

In this episode, Brett and Derrick share 12 money tips for 2024. They discuss the importance of re-evaluating how we track our finances, reviewing bills to find discounts, and happily spending money on what we love. They also emphasize the need to review contributions to retirement accounts, direct deposit tax returns for investment or debt payoff, and re-evaluate how we have fun to find cost-effective options. Building an emergency fund, setting financial goals, reviewing subscriptions, and asking for a raise at work are also discussed. In this episode, the hosts discuss various money tips for 2024. They cover topics such as salary discrepancies, loyalty in the job sector, obtaining leverage, and staying hydrated.

Takeaways

Re-evaluate how you track your finances and consider budgeting and tracking your net worth

Review your bills and try to negotiate discounts or shop around for better deals

Spend money on what you love and prioritize experiences that bring you joy

Review and adjust your contributions to retirement accounts

Direct deposit your tax return and use it to invest or pay off debt

Find cost-effective ways to have fun and enjoy life

Review your grocery budget and reduce waste

Build a sizable emergency fund to handle unexpected expenses

Set two to three financial goals for 2024 and track your progress

Review your subscriptions and eliminate unnecessary ones

Consider asking for a raise at your job and gather objective information to support your request Salary discrepancies can occur when new hires with more experience are paid more than long-term employees.

Loyalty is often not rewarded in the job sector or in insurance, where new customers may receive better rates than long-term customers.

Obtaining leverage is important when negotiating for a raise or better job offer.

Staying hydrated by drinking more water can improve overall well-being and potentially save money on unnecessary expenses.

Chapters

00:00 Introduction and Overview

00:59 Tip 1: Re-evaluating the way we track our finances

06:09 Tip 2: Reviewing bills and working to get discounts

08:56 Tip 3: Happily spend money on what you love

10:12 Tip 4: Reviewing contributions for retirement accounts

12:23 Tip 5: Direct depositing tax returns and investing or paying off debt

13:32 Tip 6: Re-evaluating how you have fun and finding cost-effective options

17:56 Tip 7: Re-evaluating your grocery budget and reducing waste

23:23 Tip 8: Building a sizable emergency fund

25:20 Tip 9: Creating two to three financial goals for 2024

33:23 Tip 10: Reviewing subscriptions and eliminating unnecessary ones

37:51 Tip 11: Asking for a raise at your job

39:37 Salary Discrepancies

40:26 Loyalty in the Job Sector

41:26 Obtaining Leverage

42:29 Staying Hydrated