Renting vs Owning: The Real Costs Nobody Talks About (REISSUE) | 092

originally published 8/18/21

Renting vs. owning. It’s the personal finance debate that never dies. In this REISSUE from 2021, Chris and co-host April dig into the real costs people forget when they say “renting is throwing money away.”

We break down the sneaky homeowner expenses that don’t show up in your mortgage payment, like property taxes, homeowners insurance, repairs, appliances, and utilities.

Chris shares real numbers from his own home (including years where repairs and upgrades hit hard), while April compares it to the simplicity of renting where most costs are bundled and you can move with way less friction.

We also talk about lifestyle reality, flexibility, the emotional “permanency” factor, and why buying only makes sense if it matches your goals, timeline, and sanity. Plus, we point you to a rent vs. buy calculator you can use to run your own numbers.

In this episode, we cover:

• The true monthly cost of homeownership beyond the mortgage
• Property taxes, insurance, maintenance, and “surprise” repairs
• Utilities and what renters typically don’t pay for
• Flexibility, mobility, and why lifestyle matters more than ego
• Equity, appreciation, and the “rent is throwing money away” myth
• A practical rent vs. buy calculator to help you decide

Contact Chris:

https://heavymetal.money

https://www.facebook.com/MoneyHeavyMetal

https://x.com/MoneyHeavyMetal

https://www.instagram.com/chrisluger

https://www.tiktok.com/@heavymetalmoney

email: chris at heavymetal.money

Resources:

https://www.nerdwallet.com/mortgages/rent-vs-buy-calculator

Contact Chris:
https://heavymetal.money

https://www.instagram.com/heavy_metal_money/

https://www.youtube.com/@heavymetalmoney

https://www.facebook.com/chrisluger

email: chris at heavymetal.money

In this episode of Heavy Metal Money, Chris discusses the importance of financial education and awareness, emphasizing that it's never too late to start learning about money and investing. He addresses common feelings of shame associated with late financial learning and highlights the significance of understanding retirement accounts, tracking spending, and building an emergency fund. Chris also explores the potential for increasing income through job changes and side hustles, ultimately encouraging listeners to take the first steps towards financial freedom.

Takeaways

• It's never too late to start learning about money.
• Many people feel overwhelmed by personal finance due to a lack of education.
• Starting late is not a barrier to financial freedom; it's an opportunity to learn.
• Emotional spending can occur when there is no financial plan in place.
• Most adults are guessing about their finances and lack understanding of retirement accounts.
• Awareness is the first step towards financial success.
• Consistency in investing is more important than picking hot stocks.
• Tracking spending helps identify where money is going and can redirect funds.
• Changing jobs can lead to higher wages and better opportunities.
• Building an emergency fund is crucial for financial security.

Chapters

00:00

It's Never Too Late to Start

03:00

Understanding Financial Awareness and Education

05:57

The Importance of Tracking Spending

08:52

Investing Basics and Consistency

11:54

Increasing Income and Side Hustles

14:54

Building an Emergency Fund

16:48

Finding Clarity and Next Steps

Join THE EXTREME PERSONAL FINANCE COMMUNITY!

The Heavy Metal Money Mosh Pit!

www.moshpit.heavymetal.money

Contact Chris:

https://heavymetal.money

https://www.facebook.com/MoneyHeavyMetal

https://x.com/MoneyHeavyMetal

https://www.instagram.com/chrisluger

https://www.tiktok.com/@heavymetalmoney

email: chris at heavymetal.money

Contact Chris:
https://heavymetal.money

https://www.instagram.com/heavy_metal_money/

https://www.youtube.com/@heavymetalmoney

https://www.facebook.com/chrisluger

email: chris at heavymetal.money

Join the Heavy Metal Money Mosh Pit! The Extreme Personal Finance Community!
https://moshpit.heavymetal.money/
Get your FREE Fast Track to Financial Freedom Guide!
https://moshpit.heavymetal.money/

What Heavy Metal Teaches Us About Financial Survival

In this solo episode of The Extreme Personal Finance Show, Chris from Heavy Metal Money breaks down the unspoken rules of the mosh pit and translates them into real-world personal finance principles that can help you survive, build wealth, and avoid painful financial mistakes.

From not rushing in before you understand the rhythm, to picking people up when they fall, to knowing when it’s time to tap out, these 8 Heavy Metal Money rules of personal finance are about discipline, awareness, community, and protecting your downside.

This episode is about:

• Why ego destroys portfolios
• How community spreads financial literacy
• When cutting losses is actually a power move
• Why taxes, inflation, and cash flow are the “laws of money physics”
• How preparation turns panic into patience
• And why money is just an amplifier for the life you actually want to live

Don't be overwhelmed by investing noise, or stuck feeling like you’re one bad decision away from getting wrecked, this episode will help you learn the rhythm, respect the pit, and build wealth on your own terms.

Keep your horns up, protect your downside, and move forward with purpose.

Subscribe to Heavy Metal Money and The Extreme Personal Finance Show wherever you listen to podcasts

Contact Chris:

https://heavymetal.money

https://www.facebook.com/MoneyHeavyMetal

https://x.com/MoneyHeavyMetal

https://www.instagram.com/chrisluger

https://www.tiktok.com/@heavymetalmoney

email: chris at heavymetal.money

Resources and Links:

Mosh pit rules are important to know if you're taking the plunge this music festival season

https://www.abc.net.au/news/2017-12-27/mosh-pit-etiquette-stay-safe-and-have-fun/9268764

Mosh Pit Rules for Money: What Heavy Metal Teaches Us About Financial Survival

https://heavymetal.money/moshpitrules/

The “Boring” Investing, Low-Fee Index Funds Strategy That Quietly Wins

https://heavymetal.money/low-fee-index-funds/

Understanding the Sunk Cost Fallacy, And How to Avoid It

https://heavymetal.money/sunkcost/

Real Estate Investing. Is It For Everyone?

https://heavymetal.money/real-estate-investing-is-it-for-everyone/

Stacked and Loaded with Joe Saul-Sehy, let’s Build a Badass Financial Life

https://youtu.be/v7te5MTreLw?si=MI7p3g1_S0s84H-q

Contact Chris:
https://heavymetal.money

https://www.instagram.com/heavy_metal_money/

https://www.youtube.com/@heavymetalmoney

https://www.facebook.com/chrisluger

email: chris at heavymetal.money

In this quick solo episode, Chris jumps behind the mic to share what he’s been building behind the scenes at Heavy Metal Money, fresh insights from Podfest, and why community matters more than ever when it comes to money.

Chris introduces the Heavy Metal Money Mosh Pit, a brand-new private Facebook group built for real people who want honest conversations about personal finance

This is a space for:

• Breaking out of the paycheck-to-paycheck grind
• Chasing financial independence on your own terms
• Talking markets, mindset, and money decisions without the noise
• Sharing wins, asking real questions, and having each other’s backs

Think of it like a financial mosh pit, you might get bumped around, but nobody gets trampled.

Join the Mosh Pit here: https://moshpit.heavymetal.money

And receive the Fast-Track to Finance Freedom guide: 7-Step Guide to Shredding Debt, Building Wealth, and Taking Back Control

Whether you’re watching on YouTube or listening to the podcast, thanks for being part of what we’re building. See you in the pit. 🤘💰

Contact Chris:

https://heavymetal.money

https://www.facebook.com/MoneyHeavyMetal

https://x.com/MoneyHeavyMetal

https://www.instagram.com/heavy_metal_money

https://www.tiktok.com/@heavymetalmoney

email: chris at heavymetal.money

Contact Chris:
https://heavymetal.money

https://www.instagram.com/heavy_metal_money/

https://www.youtube.com/@heavymetalmoney

https://www.facebook.com/chrisluger

email: chris at heavymetal.money

What makes some people freeze when things get tough, while others rise to the occasion? In this episode, I chat with David Gillis, a former U.S. Air Force officer and the owner of Spark Financial Wellness, about making tough choices, staying financially healthy, and how to improve by just 1% every day.

David uses military-level precision to help people manage stress, boost their decision-making, and perform when it really counts. We explore why we sometimes get stuck in analysis paralysis, the fight-or-flight-or-freeze response, and why there are often more than one good way to solve a problem (even if it doesn't seem that way).

We also talk about:

• How to prioritize when everything feels urgent
• The difference between reversible and irreversible decisions
• Building systems that reduce financial stress and anxiety
• Why past, present, and future thinking matters for your money
• Living in the moment instead of waiting for some mythical retirement
• David's upcoming 1% Better Conference for us looking to better ourselves!

If you've ever felt stuck making a decision, overwhelmed by your to-do list, or paralyzed by financial stress, this conversation will help you move forward with clarity and confidence.

Contact Chris:

https://heavymetal.money

https://www.facebook.com/MoneyHeavyMetal

https://x.com/MoneyHeavyMetal

https://www.instagram.com/chrisluger

https://www.tiktok.com/@heavymetalmoney

email: chris at heavymetal.money

Connect with David:
sparkfinancialwellness.com

https://www.sparkfinancialwellness.com/conference

Resources and Links:

Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts 

by Annie Duke

https://a.co/d/3wKr18P

Atomic Habits: An Easy and Proven Way to Build Good Habits and Break Bad Ones

by James Clear

https://a.co/d/bVEqK3h

75 HARD IS A TRANSFORMATIVE MENTAL TOUGHNESS PROGRAM.

https://andyfrisella.com/pages/75hard-info

https://onepercentbetterspeakersconference.com

https://www.sparkfinancialwellness.com

The Checklist Manifesto: How to Get Things Right

by Atul Gawande

https://a.co/d/eNzDylE

Start with why -- how great leaders inspire action | Simon Sinek | TEDxPugetSound

https://youtu.be/u4ZoJKF_VuA?si=gVxg-WEtOZ1jZgGk

https://campfi.org

https://economeconference.com

https://finconexpo.com

Contact Chris:
https://heavymetal.money

https://www.instagram.com/heavy_metal_money/

https://www.youtube.com/@heavymetalmoney

https://www.facebook.com/chrisluger

email: chris at heavymetal.money

Become Successfully Unemployed: Dustin Heiner’s Real Estate Playbook for Financial Freedom

Ever dream of firing your boss, walking out of your 9–5 like a rockstar, and never waking up to an alarm clock again? 

That’s exactly what today’s guest, Dustin Heiner, uses a simple but powerful real estate system he still teaches today.

In this episode of The Extreme Personal Finance Show, Dustin breaks down how he built 30+ rental properties, nearly 1,000 apartment units, and multiple businesses. Doing this all all without working a traditional job. He calls it becoming “Successfully Unemployed,” and he wants you to get there too.

We dig into:

• Why fear of losing money keeps people stuck (and why working for someone else is actually WAY riskier) 

• How Dustin was laid off from a “safe” government job and turned that moment into a financial awakening 

• The #1 mistake new investors make (and why building a business BEFORE buying property is non-negotiable) 

• Why cash flow — not unit count — determines true financial independence

• How he scaled across five different states using vetted teams and expert systems 

• 20+ creative financing strategies Dustin uses (including HELOCs, subject-to, private money, and more)

• Why rents rise with inflation — and how real estate protects your lifestyle when everything else gets more expensive 

• How his 16-year-old daughter bought her first cash-flowing rental with her life savings (yes… seriously) 

• Building generational wealth, raising financially smart kids, and using real estate as your “freedom engine”

If you’ve ever thought “I wish I could invest in real estate someday”… this episode will flip that switch forever.

BONUS! Dustin’s Free Course: Text RENTAL to 33777 to get his full real estate investing course for free. 

Follow Dustin on Instagram: @thedustinheiner

Contact Chris:

https://heavymetal.money

https://www.facebook.com/MoneyHeavyMetal

https://x.com/MoneyHeavyMetal

https://www.instagram.com/chrisluger

https://www.tiktok.com/@heavymetalmoney

email: chris at heavymetal.money

Resources and Links:

https://masterpassiveincome.com

Real Estate Wealth Builders Con

https://my.incomebuilder.io/live

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

by Robert T. Kiyosaki 

https://amzn.to/3XQV6bW

Master Passive Income Real Estate Investing Podcast

https://podcasts.apple.com/us/podcast/master-passive-income-real-estate-investing/id1374007222

Contact Chris:
https://heavymetal.money

https://www.instagram.com/heavy_metal_money/

https://www.youtube.com/@heavymetalmoney

https://www.facebook.com/chrisluger

email: chris at heavymetal.money

How to Retire Early with an Average Income and Intentional Living

In this episode of The Extreme Personal Finance Show, I sit down with Rob Pietz! He's a guy who completely destroys the myth that you need a high-powered salary to achieve financial independence early.

Rob built his entire retirement plan on average middle-class income, frugal living, smart decisions, DIY home upgrades, intentional career changes, and consistent investing.

We dig into:

• How Rob used Social Security income data to track his lifetime earnings

• The shockingly “modest” income timeline of a couple who still retired early

• Paying yourself first even when it feels like “living paycheck to paycheck”

• Building wealth while raising kids, changing careers, and going back to school

• Downsizing, becoming mortgage-free, and designing a more walkable lifestyle

• Avoiding lifestyle creep while still enjoying life

• Why your 20s are the most powerful investing decade you’ll ever have

• How to think about travel, the “go-go” years, and building purpose after retirement

• Why mindset beats income. Every time!

If you’ve ever thought, “I don’t make enough to retire early,” this episode is your wake-up call. Rob proves you can build financial freedom on normal income with a six-figure mindset, not a six-figure paycheck.

Contact Chris:

https://heavymetal.money

https://www.facebook.com/MoneyHeavyMetal

https://x.com/MoneyHeavyMetal

https://www.instagram.com/chrisluger

https://www.tiktok.com/@heavymetalmoney

email: chris at heavymetal.money

Resources and Links:

The Millionaire Next Door: The Surprising Secrets of America's Wealthy

by Thomas J. Stanley Ph.D. & William D. Danko Ph.D

https://amzn.to/3JK97oB

Contact Chris:
https://heavymetal.money

https://www.instagram.com/heavy_metal_money/

https://www.youtube.com/@heavymetalmoney

https://www.facebook.com/chrisluger

email: chris at heavymetal.money

In this episode, I sit down with Rebecca Herbst, the founder of Yield & Spread! A not-for-profit investing course and movement designed to make financial education simple, empowering, and accessible to everyone.

After retiring at just 32 through financial independence, Rebecca now dedicates her time to helping others build wealth and give back through effective altruism.

We dive into how to overcome fear of investing, the power of keeping your strategy simple, and how financial mindfulness can change your life. Rebecca shares her journey from corporate real estate to early retirement, her philosophy behind risk-averse, passive investing, and how she uses money as a tool to create more freedom and generosity in the world.

If you’ve ever felt overwhelmed by how to give back it doesn't have to be complicated — it’s empowering.

In this episode, you’ll learn:

• How Rebecca reached financial independence by age 32
• Why simple, low-cost investing beats complexity
• The truth about budgeting and finding your “enough”
• How to align wealth-building with generosity and purpose
• Why Yield & Spread donates 100% of profits to charity

Contact Chris:

https://heavymetal.money

https://www.facebook.com/MoneyHeavyMetal

https://x.com/MoneyHeavyMetal

https://www.instagram.com/chrisluger

https://www.tiktok.com/@heavymetalmoney

email: chris at heavymetal.money

Connect with Rebecca

[email protected]

Resources and Links:

https://www.yieldandspread.org

https://www.thelifeyoucansave.org/

Charitable Giving and Tax Strategies with Sean Mullaney, The FI Tax Guy | E076

https://youtu.be/FYkdYiydDqE?si=WZ6gpTeI_T-Fhy8m

https://www.charitynavigator.org/

https://www.thelifeyoucansave.org/

https://www.givewell.org

https://www.givinggreen.earth

https://www.givedirectly.org

https://choosefi.com

Effective Giving for the FI Community | Rebecca Herbst & Jack Lewars

https://www.youtube.com/watch?v=Hs3oHR0WVsE

Contact Chris:
https://heavymetal.money

https://www.instagram.com/heavy_metal_money/

https://www.youtube.com/@heavymetalmoney

https://www.facebook.com/chrisluger

email: chris at heavymetal.money

From getting laid off in 2015 to building a life completely on his own terms, Doug Cunnington has one hell of a story.In this episode of The Extreme Personal Finance Show, I get to sit down with Doug to talk about escaping the corporate machine, building an online business from scratch, stumbling into the FI community in Longmont, CO and redefining what “success” and “productivity” actually mean.We dig into:• How a layoff pushed Doug into entrepreneurship

• The early days of online business, SEO wins, and huge mistakes

• Why corporate jobs trap your identity

• Delegation, control, sunk-cost bias, and the danger of chasing titles

• Life after FI: slowing down, sleep, health, walking, cooking, guitars, and finding real hobbies

• Why rest is productivity

• The impossible guilt of “not being busy”

• How Hallmark movies are the secret metaphor for Financial Independence (yes, really)

• Why men over 40 desperately need real friendships and community

• Building a life that feels good, not one that just looks good on LinkedInChris and Doug also riff on cooking, sous vide cooking, earplugs at concerts, band life, travel, health, and what they hope life looks like 20 years from now.If you’ve ever wondered what’s actually waiting for you on the other side of FI, this episode goes way deeper than money.Contact Chris:https://heavymetal.money⁠https://www.facebook.com/MoneyHeavyMetal⁠https://x.com/MoneyHeavyMetal⁠https://www.instagram.com/chrisluger⁠⁠https://www.tiktok.com/@heavymetalmoney⁠email: chris at heavymetal.moneyResources and Links:Mile Hi Fi Podcast⁠https://www.youtube.com/@MileHighFIPodcast⁠Pat Flynn ⁠https://www.smartpassiveincome.com⁠⁠https://www.youtube.com/@HomegrownHustle⁠⁠https://fourhourworkweek.com⁠⁠https://www.mrmoneymustache.com⁠Sleep Scores in iOS 26⁠https://support.apple.com/guide/watch/view-your-sleep-score-and-sleep-history-apded441a669/watchOS⁠⁠https://peterluger.com/pages/menus⁠⁠https://eargasm.com/⁠Hot Frosty⁠https://www.imdb.com/title/tt32359447/⁠A Clüsterfünke Christmas⁠https://www.imdb.com/title/tt14932820/⁠Lacey Chaberthttps://www.imdb.com/name/nm0000327/

Contact Chris:
https://heavymetal.money

https://www.instagram.com/heavy_metal_money/

https://www.youtube.com/@heavymetalmoney

https://www.facebook.com/chrisluger

email: chris at heavymetal.money

After years in corporate, Amber Smith had enough of the cubicle grind. What started as a side hustle to pay for grad school turned into a full-time reselling and influencer business that now earns more than her old salary, and gives her total control over her time.

In this episode, I get to talk with Amber, Amber Waves of Brain on social, about how she went from flipping Patagonia fleeces to partnering with brands like eBay, Casey’s, and HealthCare.gov. 

They dig into leaving your 9-to-5, building a personal brand that actually connects, and hitting Coast FI before the age of 30!

You’ll learn how Amber structured her exit plan, the mindset shifts that made her business possible, and her brutally honest advice for anyone who dreams of walking away from corporate life.

Topics Covered:

• How to know when you’re ready to quit your job
• Turning a side hustle into a sustainable business
• Managing risk and seasonal income
• Health insurance and self-employment realities
• Building authenticity and trust online
• Brand partnerships that actually align with your values
• How Amber hit Coast FI and built financial freedom through creativity
• 
  

It’s part thrifting, part finance, and all AWESOME! It's proof that freedom isn’t found in a paycheck, it’s forged by courage, creativity, and a little bit of hustle.

Contact Chris:

https://heavymetal.money

https://www.facebook.com/MoneyHeavyMetal

https://x.com/MoneyHeavyMetal

https://www.instagram.com/chrisluger

https://www.tiktok.com/@heavymetalmoney

email: chris at heavymetal.money

Connect with Amber! 

https://www.linkedin.com/in/amber-lillian-smith/

https://www.facebook.com/amber.smith.54379

https://www.instagram.com/amberwavesofbrain_/

Resources and Links:

Mr. Money Mustache

https://www.mrmoneymustache.com

https://www.whereyabinstores.com

https://fleamarketflipper.com

https://poshfest.poshmark.com/

https://campfi.org/

Contact Chris:
https://heavymetal.money

https://www.instagram.com/heavy_metal_money/

https://www.youtube.com/@heavymetalmoney

https://www.facebook.com/chrisluger

email: chris at heavymetal.money