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AAR20 - New Job? How to Handle Finances During a Job Change
You can find Evan's custom home buying spreadsheet by going to http://Einvestingforbeginners.com/homebuying
In this episode, host Evan Raidt is joined by Andrew Sather to offer practical advice on managing finances during a job transition.
They discuss the concept of lifestyle inflation and why merely avoiding it isn't sufficient. Instead, they recommend a balanced approach, suggesting a 30/70 split between spending and saving any income increase.
Key points include accounting for hidden expenses like insurance and taxes, understanding the importance of emergency funds, and navigating the complexities of benefits like 401k and FSA accounts when switching jobs.
The episode also emphasizes the significance of communication and financial rebalancing in relationships during such transitions. Evan and Andrew conclude with sustainable strategies to ensure financial stability and emotional well-being.
Whether you're receiving a raise or taking a pay cut, their advice aims to help you make informed, balanced financial decisions during your job move.
00:00 Introduction and Welcome
00:57 Defining Lifestyle Inflation
02:34 Handling Salary Increases and Decreases
03:46 Hidden Expenses and Detailed Budgeting
06:59 Spending and Saving Strategies
20:27 Emergency Funds and Job Security
21:54 Retirement Accounts and Benefits
26:25 Relationship and Financial Communication
32:07 Conclusion and Final Thoughts
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Go to SHOPIFY.COM/beginners to start selling with Shopify today.
Squeeze the most out of your Summer with Liquid I.V. Tear. Pour. Live More. Go to LIQUID-IV DOT COM and get 20% off your first order with code INVESTING at checkout.
Leesa has a lineup of beautifully crafted mattresses tailored to how you sleep – without the luxury price tag. Go to Leesa.com, promo code INVESTING for 25% off mattresses PLUS an extra $50 off.
Go to tesbros.com and use code POD15 for 15% off your first order. For our EXCLUSIVE GIVEAWAY, and your chance to win a DIY PPF Full Body Wrap kit tailored to your ride, simply go to this link:
https://station.page/tesbros/contest/theinvestingfor
Have questions? Send them to Evan at [email protected]
SUBSCRIBE TO THE SHOW
Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
View all episodes
By By Andrew Sather and Dave Ahern | Stock Market Guide to Buying Stocks like
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13721,372 ratings
You can find Evan's custom home buying spreadsheet by going to http://Einvestingforbeginners.com/homebuying
In this episode, host Evan Raidt is joined by Andrew Sather to offer practical advice on managing finances during a job transition.
They discuss the concept of lifestyle inflation and why merely avoiding it isn't sufficient. Instead, they recommend a balanced approach, suggesting a 30/70 split between spending and saving any income increase.
Key points include accounting for hidden expenses like insurance and taxes, understanding the importance of emergency funds, and navigating the complexities of benefits like 401k and FSA accounts when switching jobs.
The episode also emphasizes the significance of communication and financial rebalancing in relationships during such transitions. Evan and Andrew conclude with sustainable strategies to ensure financial stability and emotional well-being.
Whether you're receiving a raise or taking a pay cut, their advice aims to help you make informed, balanced financial decisions during your job move.
00:00 Introduction and Welcome
00:57 Defining Lifestyle Inflation
02:34 Handling Salary Increases and Decreases
03:46 Hidden Expenses and Detailed Budgeting
06:59 Spending and Saving Strategies
20:27 Emergency Funds and Job Security
21:54 Retirement Accounts and Benefits
26:25 Relationship and Financial Communication
32:07 Conclusion and Final Thoughts
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Go to SHOPIFY.COM/beginners to start selling with Shopify today.
Squeeze the most out of your Summer with Liquid I.V. Tear. Pour. Live More. Go to LIQUID-IV DOT COM and get 20% off your first order with code INVESTING at checkout.
Leesa has a lineup of beautifully crafted mattresses tailored to how you sleep – without the luxury price tag. Go to Leesa.com, promo code INVESTING for 25% off mattresses PLUS an extra $50 off.
Go to tesbros.com and use code POD15 for 15% off your first order. For our EXCLUSIVE GIVEAWAY, and your chance to win a DIY PPF Full Body Wrap kit tailored to your ride, simply go to this link:
https://station.page/tesbros/contest/theinvestingfor
Have questions? Send them to Evan at [email protected]
SUBSCRIBE TO THE SHOW
Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
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