Girl on FIRE

🎙 Popular advice will tell you to pay off your debt first before you start investing. But following that advice means that you could be leaving tens of thousands of dollars on the table when it comes time to retire. It’s important to set a solid financial foundation before you start investing. You need to learn how to manage the money you already have before you start making more. But that doesn’t mean you need to follow outdated and unhelpful (and often expensive) advice. But then, what comes first? 🤔

🌟 What your #1 financial priority needs to be regardless of the current state of your finances;

🌟 Why you need to start investing before you become debt free and why the popular advice about this from Dave Ramsey is so wrong; and

🌟 How to start investing when you still have debt, and how to become totally debt free.

Episode transcript & show notes: https://www.papermoneyco.com/20-save-debt-invest-first

Dave Ramsey’s Baby Steps: https://www.ramseysolutions.com/dave-ramsey-7-baby-steps

00:00 Hello & Welcome! - https://www.papermoneyco.com

02:44 Common Advice About Saving, Debt & Retirement From Dave Ramsey

11:48 Should You Save, Pay Off Debt or Invest First?

20:46 Next Weeks’ Episode

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💖 I'd be super grateful for your help in making financial education available to everyone.

The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.

🎙 Savings rate calculation — the #1 factor that determine when you'll reach financial independence is your savings rate, learn how to calculate it and retire earlier than you every thought possible! 🤔

🌟 Why your savings rate is the #1 factor that will determine when you’re able to retire;

🌟 How to calculate your savings rate and what it means for your financial independence; and

🌟 What your savings rate should be if you want to retire early.

Mr Money Moustache - The shockingly simple math behind early retirement

00:00 Hello & Welcome!

02:29 What Is Your Savings Rate & Why Is It Important?

11:25 How Do You Calculate Your Savings Rate

16:40 What Should Your Savings Rate Be?

19:58 Next Weeks’ Episode

Join our exclusive community by becoming a Patron - Patreon

🤩 Subscribe so you don’t miss any future episodes.

🏆 Rate and review the show on Apple Podcasts: Podcast reviews are crazy important to the iTunes algorithm. The more reviews we receive, the more likely we’ll be able to get this podcast in front of more people and grow the PMC Squad!

💖 I'd be super grateful for your help in making financial education available to everyone.

The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.

🎙 Bonds have been a great way to invest for income for quite some time. Even if Captain America isn’t getting on stage to sell them. But what are bonds and how to you invest in bonds in the first place? 🤔

🌟 Why lending money can be a good way to invest and generate an income stream;

🌟 Why investing in bonds is considered to be safer than investing in shares and is popular in retirement; and

🌟 What risks are involved with investing in bonds and how to start investing in them.

Paycheck Budget workbook

Free 7-day online budgeting course

Australian government bonds

Australia retains AAA rating throughout Coronavirus-induced global recession

Australia’s credit rating

00:00 Hello & Welcome!

01:30 What Are Bonds & How Do They Work?

02:48 Different Types of Bonds

05:22 Are Bonds a Good Investment?

10:20 Why Shouldn’t You Invest in Bonds The Risks

15:01 How to Buy and Invest in Bonds

18:44 Next Weeks’ Episode

Join our exclusive community by becoming a Patron - Patreon

🤩 Subscribe so you don’t miss any future episodes.

🏆 Rate and review the show on Apple Podcasts: Podcast reviews are crazy important to the iTunes algorithm. The more reviews we receive, the more likely we’ll be able to get this podcast in front of more people and grow the PMC Squad!

💖 I'd be super grateful for your help in making financial education available to everyone.

The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.

🎙 How do you become a millionaire on autopilot? You invest in ETFs and hold on for the long haul. This is a super simple and effective way to build wealth, and reach FIRE. ETFs have been gaining in popularity over the past few decades - but what are they and how do you invest in them? 🤔

🌟 Why ETFs are perfect for lazy investors and beginners just learning how to invest;

🌟 How ETFs can make you a millionaire without any extra work and effort on your part — even while you sleep; and

🌟 How to get started if you’re ready to invest in ETFs and watch your wealth explode.

Typical MER for passively managed fund

Vanguard ETFs

Black Rock - iShares ETFs

Beta Shares ETFs

SelfWealth - $9.50 flat brokerage with no commissions and no minimum investment amounts

00:00 Hello & Welcome! - https://www.papermoneyco.com

01:39 What are ETFs?

04:18 How Do ETFs Work?

08:31 Why You Should Invest in ETFs

12:31 Risks of Investing in ETFs

14:56 How to Trade and Invest in ETFs

18:56 How Much Should You Invest in ETFs

19:40 Next Weeks’ Episode

Join our exclusive community by becoming a Patron - Patreon

🤩 Subscribe so you don’t miss any future episodes.

🏆 Rate and review the show on Apple Podcasts: Podcast reviews are crazy important to the iTunes algorithm. The more reviews we receive, the more likely we’ll be able to get this podcast in front of more people and grow the PMC Squad!

💖 I'd be super grateful for your help in making financial education available to everyone.

The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.

🎙 Investing in the stock market is a great way to make passive income and build your wealth, even for beginners and even if you only have a little bit of money to invest.  But it’s easy to lose a lot of money if you don’t know what you’re doing and you make a bad decision. 🤔

This episode discusses topics like:

🌟 Why you should’t try to time the market and why day trading is a fast way to lose a lot of money;

🌟 How to get started investing in the stock market even if you’re a beginner and you only have a little bit of money to invest; and

🌟 How much money a beginner needs to start investing in the stock market (it’s not as much as you’d think!). 

Links from this episode:

Paycheck Budget workbook

Free 7-day online budgeting course

Australian Shares Performance in the Last 30 Years

How do Franking Credits Work?

Remember to:

Join our exclusive community by becoming a Patron - Patreon

🤩 Subscribe so you don’t miss any future episodes.

🏆 Rate and review the show on Apple Podcasts: Podcast reviews are crazy important to the iTunes algorithm. The more reviews we receive, the more likely we’ll be able to get this podcast in front of more people and grow the PMC Squad!

💖 I'd be super grateful for your help in making financial education available to everyone.

The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.

🎙 Investing in the stock market is a great way to make passive income and build your wealth. But for beginners it can be scary when you don’t know how to make easy money while avoiding the risks. 🤔

This episode discusses topics like:

🌟 The 2 ways to make money from the stock market without any extra time, effort or energy (make money while you sleep!);

🌟 Why investing in the stock market is so beneficial, even for beginners; and

🌟 How to buy more stocks on autopilot and build wealth while you sleep. 

Links from this episode:

Paycheck Budget workbook

Free 7-day online budgeting course

Australian Shares Performance in the Last 30 Years

How do Franking Credits Work?

Remember to:

Join our exclusive community by becoming a Patron - Patreon

🤩 Subscribe so you don’t miss any future episodes.

🏆 Rate and review the show on Apple Podcasts: Podcast reviews are crazy important to the iTunes algorithm. The more reviews we receive, the more likely we’ll be able to get this podcast in front of more people and grow the PMC Squad!

💖 I'd be super grateful for your help in making financial education available to everyone.

The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.

🎙 Ready to build real wealth? Learn how to start investing and determine your investing strategy, even if you're a beginner. Your investing strategy is like a GPS for your investing. It knows where you want to go and how to get there. There’s no getting rich quick here, but it’s easy to lose a lot of money if you don’t know what you’re doing. Having a solid investing strategy will take your risk tolerance and time horizon into account while making sure you’re only investing in something you understand. But how to do determine your investing strategy? 🤔

This episode discusses topics like:

🌟 How to determine when you’re ready to start investing even if you still have debt;

🌟 How to start building and managing your investment portfolio; and

🌟 How to start investing based on your risk tolerance and time horizon.

Links from this episode:

Paycheck Budget workbook

Free 7-day online budgeting course

How frequently should you invest to maximise returns

Remember to:

Join our exclusive community by becoming a Patron - Patreon

🤩 Subscribe so you don’t miss any future episodes.

🏆 Rate and review the show on Apple Podcasts: Podcast reviews are crazy important to the iTunes algorithm. The more reviews we receive, the more likely we’ll be able to get this podcast in front of more people and grow the PMC Squad!

💖 I'd be super grateful for your help in making financial education available to everyone.

The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.

🎙 Credit cards aren’t as evil as some financial experts would have you believe. When used responsibly, they’re a great tool to help you make the most out of your money and offer great benefits like points and travel hacking. But how do you use a credit card properly and responsibly without accumulating debt? 🤔

This episode discusses topics like:

🌟 When it’s okay to use a credit card in emergencies;

🌟 What banks and card providers don’t want you to know about your credit card debt; and

🌟 How to use a credit card without going into debt. 

Links from this episode:

Paycheck Budget workbook

Free 7-day online budgeting course

Festive Season credit card debt drops to 10-year low in January 2021

Credit card debt fell and the savings rate rose this year, but financial counsellors issue warning on buy-now, pay-later plans

Credit card debt down more than 20% since COVID struck

Average credit card debt in Australia

Average credit card debt in the US

Remember to:

Join our exclusive community by becoming a Patron - Patreon

🤩 Subscribe so you don’t miss any future episodes.

🏆 Rate and review the show on Apple Podcasts: Podcast reviews are crazy important to the iTunes algorithm. The more reviews we receive, the more likely we’ll be able to get this podcast in front of more people and grow the PMC Squad!

💖 I'd be super grateful for your help in making financial education available to everyone.

The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.

🎙 One of the most important aspects of building wealth is earning enough income to cover your expenses, enjoy your life in the present and invest for financial independence. And in order to do that, you need to get paid what you deserve. That’s why this week, we’re discussing how to ask your boss for a raise. It’s about maximising the income you already work before adding additional streams of income. It’s not always an easy conversation to have, so how do you ask? 🤔

This episode discusses topics like:

🌟 How to prove to your boss that you deserve the raise you’re about to ask for;

🌟 What not to say when you’re asking for a raise; and

🌟 How to ensure that you’re getting paid what you’re worth. 

Links from this episode:

Paycheck Budget workbook

Free 7-day online budgeting course

Harvard Business Review: Research: Women Ask for Raises as Often as Men, but Are Less Likely to Get Them

Marketplace: Men and women as for pay raises at the same rate - but men get them more often

Remember to:

Join our exclusive community by becoming a Patron - Patreon

🤩 Subscribe so you don’t miss any future episodes.

🏆 Rate and review the show on Apple Podcasts: Podcast reviews are crazy important to the iTunes algorithm. The more reviews we receive, the more likely we’ll be able to get this podcast in front of more people and grow the PMC Squad!

💖 I'd be super grateful for your help in making financial education available to everyone.

The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.

Do you have goals for FIRE? Drop a comment below 👇🏽

🎙 Your net worth is the #1 financial metric to focus on if you want to build lasting wealth and live the life of your dreams. But how do you calculate it? It’s not super complicated, but it’s easy to get it wrong. Get in the habit of calculating your net worth often and tracking it monthly to see how it changes. I’m sure you’ve seen people sharing their net worth all over the internet, but what does it mean? 🤔

This episode discusses topics like:

🌟 The most important factor that determines whether you really have an asset or just an item;

🌟 Why your net worth is the #1 metric for measuring your progress and your financial success; and

🌟 Why money saved in the bank doesn’t equal wealth. 

Links from this episode:

Paycheck Budget workbook

Free 7-day online budgeting course

Remember to:

Join our exclusive community by becoming a Patron - Patreon

🤩 Subscribe so you don’t miss any future episodes.

🏆 Rate and review the show on Apple Podcasts: Podcast reviews are crazy important to the iTunes algorithm. The more reviews we receive, the more likely we’ll be able to get this podcast in front of more people and grow the PMC Squad!

💖 I'd be super grateful for your help in making financial education available to everyone.

The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.