Are you always “saving” on little things here and there? You may not be the type of person who consistently saves 10% of their income for retirement, but anyone who knows you can tell you’re the queen of frugality.  Between avoiding brand names at the grocery store (in favor of the Store Brand) and being a die-hard fan of a zero-waste lifestyle (did anyone say reused Mason jars?), you are the living embodiment of the frugal person. But, do you know how much money you are actually saving through your frugal lifestyle? Or, are these imaginary savings just that —a pretty illusion?  

As a self-declared frugal person, a close friend of mine is always looking for new ways to save a couple hundred extra dollars a month. For the past six months, saving on fuel has become one of her biggest goals. On a regular recharging day, she travels to the other side of her city to refuel at a tiny gas station that charges 30% less than her regular Shell station. That sounds like a sweet deal…until you consider her regular station is just one block away from her apartment, but the cheaper place is 45 minutes away #gasp.

My friend’s example comes to my mind whenever I say that, sometimes,  being the most frugal person doesn’t always help your bottom line. Our brains are so complex that, sometimes, being ultra-focused on saving a few dollars doesn't allow us to see the forest for the trees. And you know what’s the most perplexing part? This mistake is more common than you think. 

This is why in this week’s episode, I want to talk about frugality and the traps usually associated with our reflex of trying to cut down on expenses when finances are tight.

In this episode you will learn: 

• Why frugality, by itself,  is not enough to improve your financial situation.
• The 3 things you have to do to leverage a frugal lifestyle. 
• One question you NEED to ask yourself before going frugal. 

For a quick recap of this episode go to https://www.jenhemphill.com/181

The post, [Summer Playlist] Lessons Learned From Frugality | 181  appeared first on the Her Dinero Matters Podcast.

If you have a budget, I’m sure you know why keeping track of your expenses is important. What you probably don’t know is that daily ins and outs are not the only numbers worth tracking. In fact, if you want to truly stay on top of your finances there are four numbers you should keep an eye on. In this episode, I’ll share what these numbers are, how to keep up with them, and why tracking them will make a difference in the long run. 

Keeping track of your expenses is an essential part of budgeting: there’s just no way around it. However, I get why you might find this whole expense tracking thing a little bit tedious (or just plain boring!), especially if you are new-ish to budgeting and you’re still working on creating a system that works for you.  

If that sounds all too familiar, this week’s episode might be just what you need. Today, we’ll start with a quick review of the basics of expense tracking (a lil’ refresher is always welcome!) and why it’s important to keep up with those numbers. Then, we’ll move on to the nitty-gritty of this week’s topic: four not-so-common numbers that you should keep in mind when evaluating your finances. 

Most people don’t usually see big, drastic changes in these numbers month over month, but that doesn’t make them less important. Keeping a close eye on them will not only give you valuable info on your current financial situation, it will also help you find all sorts of growth opportunities.

In this episode you will learn: 

• Why expense tracking doesn’t have to be tedious.
• 3 expense types to keep up with (and why they matter).
• 4 numbers that are not that common, but are worth keeping in your tracker.

For a quick recap of this episode go to https://www.jenhemphill.com/402

The post, Four Numbers You Need to Start Tracking Today | HDM 402 appeared first on the Her Dinero Matters Podcast.

What’s the first thing that comes to your mind when you hear “money rules”? If you’re anything like me, you probably think about complicated must-dos, or old-as-time financial practices that, by now, are pretty much set in stone. But, what if I told you that money rules don’t have to be inflexible (or even tied to money per se) to be effective and life-changing? Would you believe me? Well, let’s put that to the test! In today’s episode, I’ll share with you 8 money rules that have helped me take my money management to a whole new level. 

If every time you hear the words “money rules” you hear the distant echo of Scrooge McDuck rigidly screaming “I made my money by being tougher than the toughies and smarter than the smarties!”, maybe it’s time to reconsider your approach to the concept of “rules” (plot twist: being inflexible is not part a money rule job description! #notreally).

Here’s the deal: when it comes to money management & finances, having rules that work is crucial. Not only they will help you make better decisions (and in less time), but they can also reduce the mental load that usually comes with money management. However, just because rules are important it doesn’t mean they have to be rigid or set in stone. In fact. It’s quite the opposite! 

My experience has taught me that the best money rules are those that are tailored to my situation and thus resonate deeply with my personal money story. And you know what? You can also have rules like these. This is why, in this episode, I’ll share with you 8 money rules that have helped me take my money management to a whole new level. 

In this episode you will learn: 

• The reason why not all money rules have to be about money (#gasp!)
• How to set up money rules that work for you… when you are rule-averse.
• Why creating your own money rules is 100% possible

For a quick recap of this episode go to https://www.jenhemphill.com/401

The post, Money Rules That Don’t Have To Do With Money? | HDM 401 appeared first on the Her Dinero Matters Podcast.

It’s happening! With this episode, Her Dinero Matters is officially hitting the 400-episode mark! To celebrate, I’ve put together a special episode that will break our traditional format but in a fun way! This week I’m sharing Her Dinero Matters Origin Story with you and the lessons I’ve taken home after recording 400 weekly episodes (#wild!). 

For most people (myself included), 400 may not feel like a huge number, but whenever I say out loud that I’ve spent almost nine years recording weekly podcast episodes to help women improve their relationships with money, I always get a shocked stare. NINE YEARS! That’s a lifetime. And I’m sure that lifetime magic is what contributes to making this episode feel extra special. 

It all started in 2015 when podcasts that talked to women about money were not a very common sight. Yes, podcasting and financial advice in general existed, but the offer available back in the day did not match the specific vision I had in my head: a space where we could come together as women to talk about money, our money stories, and how those have impacted the way we lead our financial lives. Her Dinero Matters was born from that vision. 

Over the years, the podcast has evolved and shifted directions in various ways. Not only that: recording hundreds of interviews with all sorts of amazing guests has also taught me precious lessons that I wouldn’t have learned otherwise. 

This special episode aims to celebrate all that!

In this episode you will learn: 

• A deep-dive into Her Dinero Matters Origin Story.
• Lessons learned after recording 400 episodes.
• Featured feedback from listeners! 

For a quick recap of this episode go to https://www.jenhemphill.com/400

The post, 400 Episodes and STILL Going: Lessons Learned From the Podcasting Trenches  | HDM 400 appeared first on the Her Dinero Matters Podcast.

We all know about the importance of getting better at managing our finances, but many people come face to face with a giant wall when it comes to the practical side of things. Is there a specific routine or a way of doing things that facilitates everything? And if there is, how can you start implementing those best practices in your financial management? In this week’s episode, I’m going to share how I manage our household finances, the systems I use, and the things that could be improved. 

I don’t know if it’s just me, but with the boom of AI, I feel nowadays everyone is talking about systems and automation. Financial conversations are not the exception.  While I am a huge fan of saving precious time by automating tasks, I also recognize that building effective systems to better manage your finances takes time and a good chunk of trial and error. 

This is why in this week’s episode I’ve decided to share how I manage our household finances. I’ll talk about the systems that work for us, how I’ve built them, and some things that are still a work in progress (because, let’s be honest, when it comes to managing finances. there’s no such thing as perfection. Believe me, building this system as taken years and loads of trial and error). The goal of this episode is to inspire you to try something new in your current money management routine. 

In this episode you will learn: 

• The nitty gritty aspects of how I manage our household finances.
• The importance of having a sound plan (aka, a budget!) as your starting point. 
• Why this system works for us now and what are some aspects that still need improvement.

For a quick recap of this episode go to https://www.jenhemphill.com/399

The post, This Is The System I Use To Manage Our Household Finances  | HDM 399 appeared first on the Her Dinero Matters Podcast.

If you are a regular consumer of financial content (hello podcasts!) and someone asked you for a quick recap of the five, most valuable lessons you’ve uncovered so far, what would your answer be? Well, I know for sure that my list wouldn’t include things like budgeting, savvy retirement planning, or only spending on stuff I need! Curious to know why? In this week’s episode, I’m sharing five underrated money lessons that have completely changed the way I relate to money. 

Lately, I’ve been thinking a lot about all the money advice that just exists out there in the world. I’ve been working in this industry for more than ten years now (!) and despite the massive amount of financial content that is poured every day into the internet, there are foundational topics that, to this day, still don’t get much attention. 

Yes, we all “know” about the importance of having a budget, planning our expenses, thinking about retirement early on, and, in general, all those financial how-to’s that, once mastered, make your life easier. And yet, despite already having that information, so many of us still struggle with keeping up with the “basics”. Have you ever wondered why?

In today’s episode, I will share with you five underrated money lessons that, to this day, not that many people speak about. These are lessons I’ve acquired through my 10+ years of experience in the financial industry and, boy, understanding them has been an absolute game-changer! 

In this episode you will learn: 

• The 3 keys to adaptability with your money.
• The importance of having mindful indulgences.
• Why debt is not (always) the devil’s cousin.

For a quick recap of this episode go to https://www.jenhemphill.com/398

The post, Five Underrated Money Lessons (They Will Change Everything!) | HDM 398 appeared first on the Her Dinero Matters Podcast.

You might have learned that not spending money on things you don’t really need is the best (and, quite possibly, the only) way to save money in the long run. But, what if I told you that buying things that you want can lead to saving some extra money? In this week’s episode, I’ll share with you four purchases that improved my life (and added some extra joy!). 

If you got most of your financial education from old-school financial advisors, you might be all too familiar with the most important “spending” rule ever: don’t waste your money buying things that you don’t need. This includes stuff like clothing, fancy trips, expensive gadgets, a second car, and, in general, anything that is not an essential need (think food and shelter). 

While there’s nothing wrong with this advice, the harsh truth is that,  in real life, Needs and Wants are rarely two well-defined and distinct categories. In fact, both are quite subjective: your Needs and Wants will vary depending on your circumstances, the place where you live, your cultural context and the season of life you’re currently moving through (among other things). 

So, how can you learn to distinguish between them? 

In this episode, I’ll share with you four purchases that ended up improving my life in so many ways. My goal is to give you some food for thought and inspire you to consider your spending habits with a new perspective.

In this episode you will learn: 

• Why well-intentioned advice, such as “just splurge less”, often falls flat. 
• The reason why “Needs” and “Wants” are not set in stone.
• Four purchases that initially felt like splurges, but ended up giving me joy (and saving me some money!)

For a quick recap of this episode go to https://www.jenhemphill.com/397

The post, Four Purchases That Improved My Life | HDM 397 appeared first on the Her Dinero Matters Podcast.

If you want to achieve financial success, building solid money habits is a non-negotiable. Intellectually, almost everyone knows and agrees with that statement. But, how do you choose which habits to build? That’s the million-dollar question. In this week’s episode, I’ll share with you the four money habits that can have the biggest impact on your money confidence journey. 

Every self-help book or personal development coach seems to agree on one thing: if you are trying to transform one area of your life, the first thing you gotta do is build good habits.  But, what is exactly a good habit? And who decides which ones fall into this category? That is the quintessential question. 

When it comes to improving your finances, habits such as saving consistently and spending less will almost always pop up in any finance-related conversation. However, how can you know if building these will help you move the needle of your plan forward? Because let’s be honest: there is such a thing as picking the wrong habit (#gasp). And since building these behavioral patterns is not that easy (plot twist: gaining real momentum usually takes more than 21 days), you want to be sure the time and energy you’ll be investing in acquiring a new habit will eventually pay off. 

In this episode, I’ll share with you some insights on the importance of picking (and building!)  money habits that bring in a genuine bang. 

In this episode you will learn: 

• Why so many financial habits are not worth your energy and time and what you can do instead.
• Two habits that seem crucial to have, but actually can be automated.
• Four key money habits that will bring you more bang for your time.

For a quick recap of this episode go to https://www.jenhemphill.com/396

The post, Are Your Money Habits Keeping You Stuck? | HDM 396 appeared first on the Her Dinero Matters Podcast.

Did you know that, despite the challenges of the current housing market, most Americans still consider homeownership an essential part of the American Dream? And yet sometimes a quick run of your numbers can reveal that owning property may not be as financially advantageous as you initially thought. In this episode, we’ll talk about the real cost of owning a home. 

According to a survey conducted by the online platform Lending Tree in July 2023, 94% of respondents still see homeownership as an essential part of the American Dream. However, as the days and months pass by,  the realities of the current housing market, with its ever-changing ups and downs, have created a sense of hopelessness in so many people, particularly the younger crowd: no matter what they do, it’s unlikely they will ever be able to afford a house. 

But, what if this sense of hopelessness was simply a by-product of believing that owning a house is better than renting because it’s cheaper? What if this belief were simply not true? While no one can deny that owning the house you live in can be a rewarding, and even fulfilling experience, the numbers don’t lie: there are so many scenarios where owning property can cost you more (way, way more, in fact) than renting out. 

In this episode, I’ll share with you my story (and insights) on things you have to consider before buying a home and the importance of running your numbers before committing to homeownership. 

In this episode you will learn: 

• Some of the things to consider when buying a home
• The numbers you need to compare for calculating the true cost of owning vs renting a home
• Why my family is choosing not to buy a home and what we are doing instead.

For a quick recap of this episode go to https://www.jenhemphill.com/395

The post, NOT owning a home does have its benefits | HDM 395 appeared first on the Her Dinero Matters Podcast.

If someone approached you at a family party and asked you to share your biggest money mistake, what would you say? To be completely honest, I’d probably freeze on the spot. Not because I don’t know how to answer, but because a voice in my head tells me that, as a financial counselor, I should know better. Well, that’s not exactly true. And in this week’s episode, I’m going to walk you through the details of my biggest money mistake ever: buying a timeshare. 

If you’ve ever vacationed in a resort, you’ve probably heard about timeshares. The concept is very straightforward: in exchange for a fee, you “purchase” the right to use a resort room for one week of a given year. The “advantage” of this system is that your contract allows you to enjoy the resort room at the same fixed price, which over time amounts to considerable savings on vacation costs. 

While on paper the idea sounds interesting enough, in my case reality didn’t really live up to the expectations. And yet,  acknowledging this in real-time was almost impossible –a fact that made the whole experience very painful. 

Today I’m sharing this experience hoping that it can inspire you to better understand why sometimes is hard to see big money mistakes coming.

In this episode you will learn: 

• The reason why investing in this didn’t feel like a mistake (at first).
• Some annoying realizations that added up to the pain of this experience.
• How we managed to get rid of it and why it was the best decision.

For a quick recap of this episode go to https://www.jenhemphill.com/394

The post, Storytime: My Biggest Money Mistake Ever | HDM 394 appeared first on the Her Dinero Matters Podcast.