How to Money

“Demographics are destiny” is a phrase we’ve all heard. And while the future of America isn’t a foregone conclusion, declining birth rates, rising inequality, and the dramatic increase of single-parent households are having a profound impact on our society, impacting the overall economy. With all of this in mind, another question is raised: how should we respond and what money choices should we be making now? To help answer this question, we’re joined by Melissa Kearney who is an economist known for her extensive research on social policy, poverty, inequality, and the economics of families and fertility. Melissa is author of the book, The Two-Parent Privilege, and she’s a professor of economics at Notre Dame. We discuss:

• How pessimism about the economy often contrasts with individual financial well-being
• Declining birth rates are a global concern with potential economic consequences
• Marriage is not just a romantic arrangement, it has economic implications too
• Immigration could be a solution to counteract declining birth rates
• Declining birth rates could lead to challenges in social security systems
• Investing strategies may need to adapt to demographic changes

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

• Be sure to check out Melissa’s book, The Two-Parent Privilege!
• Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here. 
• Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
• Find a thriving community of fellow money nerds by joining the HTM Facebook group!
• Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.

And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

See omnystudio.com/listener for privacy information.

Let’s kick off the week with some fresh listener questions we have lined up for you! And don't just stand on the sidelines- if you have a question you’d like us to answer, toss your voice memo our way. It only takes about 90 seconds to record and you can find a step by step guide over at HowToMoney.com/ask . Regardless of how random or bizarre you might think it is, we want to hear it!

1 - Credit card autopay: how do I avoid getting hit with an interest charge?

2 - Timing a HELOC: should I apply and open a line of credit before my income drops significantly?

3 - Solar panels: should I take the plunge with solar in order to mitigate monthly expenses in retirement?

4 - Family money talk: how do I convince my parents that taking out a loan for some HVAC work is foolish?

5 - Cellular for wearables: what’s the best option if we’re adding a line for our kid’s watch?

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

• Negotiating severance during an impending layoff by Financial Samurai.
• Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here. 
• Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
• Join a thriving community of fellow money in the HTM Facebook group.
• Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.

During this episode we enjoyed a It’s Complicated Being A Wizard by Burlington Beer Co! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

See omnystudio.com/listener for privacy information.

Time for a Friday Flight- our little sampling of the week’s financial news and what it means for your personal finances. There are a lot of headlines out there, but we boil them down to specific takeaways that will allow you to kick off the weekend informed and help you to get ahead with your money. In this episode we explain some relevant and helpful stories like: 

• Government shutdown
• Streaming price hikes
• Underwater autos
• Best high mileage vehicles
• Car insurers that have your back
• Freelancers FTW
• Side hustle scams
• E-fund idiocy
• Employer matched savings
• Employer provided financial advice
• TrumpRx
• Pharma ads

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

• Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here. 
• Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
• Join a thriving community of fellow money in the HTM Facebook group.
• Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.

And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money. Have an awesome weekend!

Best friends out!

See omnystudio.com/listener for privacy information.

Our guest today says, “you can’t transform the world if you’re living paycheck to paycheck.” We couldn’t agree more! And money literacy is at the heart of avoiding that fate. Not only did Professor Kristen Carioti literally write the personal finance textbook, but she also found a way to make personal finance classes a requirement at her school, Mount Mary University. Kristen is boots on the ground, teaching the next generation how to think about and handle their finances effectively. We discuss:

• Students are eager to learn about personal finance, indicating a demand for a money education
• Building good money habits early can lead to long-term financial success
• Budgeting should be viewed as a plan rather than a restriction
• Trade-offs in financial decisions are often overlooked by young adults
• Financial tools should be chosen based on individual needs and effectiveness
• And plenty more!

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

• Check out Kristen’s site to learn more about her, the personal finance book, and reach out to her on LinkedIn to connect professionally!
• Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here. 
• Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
• Find a thriving community of fellow money nerds by joining the HTM Facebook group!
• Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.

And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

See omnystudio.com/listener for privacy information.

Let’s kick off the week with some fresh listener questions we have lined up for you! And don't just stand on the sidelines- if you have a question you’d like us to answer, toss your voice memo our way. It only takes about 90 seconds to record and you can find a step by step guide over at HowToMoney.com/ask . Regardless of how random or bizarre you might think it is, we want to hear it!

1 - Switching banks and HSAs: what’s the break-even dollar amount for it to be worth it?

2 - Best early retirement accounts: should I prioritize a 457b over a 403b?

3 - Social Security timing: do I start drawing down at 62 and let my retirement portfolio grow or vice versa?

4 - Building an ADU: should I tap a HELOC or save up the cash to build?

5 - Affordable healthcare: what are actual costs if we opt out of actual health insurance?

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

• Paying the $50 might be worth it for a detailed Social Security analysis.
• If you’re looking for a very affordable health care alternative (like by a factor of 6x) that isn’t technically insurance, then you definitely need to check out Medi-Share.
• Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here. 
• Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
• Join a thriving community of fellow money in the HTM Facebook group.
• Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.

During this episode we enjoyed a Cordial Offering: Peanut Butter Cup by Edmund’s Oast! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

See omnystudio.com/listener for privacy information.

Time for a Friday Flight- our little sampling of the week’s financial news and what it means for your personal finances. There are a lot of headlines out there, but we boil them down to specific takeaways that will allow you to kick off the weekend informed and help you to get ahead with your money. In this episode we explain some relevant and helpful stories like: 

• Coffee tariffs
• Avoiding the import tax
• Just in case financial planning
• Startup investing
• Investing like Nance
• Quitting quarterly earnings
• Consumer caste system
• Vegas surge pricing
• Noble Mobile
• Credit scores crashing
• A better scoring model?

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

• You need a Bare Bones Budget!
• Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here. 
• Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
• Join a thriving community of fellow money in the HTM Facebook group.
• Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.

And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money. Have an awesome weekend!

Best friends out!

See omnystudio.com/listener for privacy information.

The supposed luxury of avocado toast, along with the latte, has become an “ok boomer” personal finance tip. “Stop frivolously spending your money and you’d be rich!”... we don’t actually believe that here at HTM and even if there’s a modicum of truth to that statement, it presents other challenges like: how long do you sacrifice in the short-term in order to achieve long-term financial success? Which is why we’re pumped to have financial counselors Justin & Haley Browns-Wood join the podcast today because these are the types of questions they guide their clients through on the reg.

Justin & Haley share their story which includes paying off six figures in debt – all on teacher’s salaries, despite burning through a $600,000 settlement. The couple behind Price of Avocado Toast discusses how lifestyle inflation led to their out of control debt, why debt consolidation is risky without behavioral change, examples of how tracking expenses are essential for gaining financial clarity, how shame around debt can be a common barrier to financial progress, but then we also talk about OkCupid and the intersection of intimacy and Dave Ramsey – it turns out that transformative experiences can strengthen relationships!

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

• Head to PriceOfAvocadoToast.com to learn about everything Justin & Haley, including their financial coacking.
• Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here. 
• Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
• Find a thriving community of fellow money nerds by joining the HTM Facebook group!
• Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.

And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

See omnystudio.com/listener for privacy information.

Let’s kick off the week with some fresh listener questions we have lined up for you! And don't just stand on the sidelines- if you have a question you’d like us to answer, toss your voice memo our way. It only takes about 90 seconds to record and you can find a step by step guide over at HowToMoney.com/ask . Regardless of how random or bizarre you might think it is, we want to hear it!

1 - Selling a home and renting instead: what do we do with cash from the closing table?

2 - Best credit card for groceries: but what about ethical fatigue from asking for annual fee waiver?

3 - High income Roth investors: how do we go about (legally) shoehorning some dollars in there?

4 - Car rental deals: is is worth it to go with the ultra cheap car rental that’s a fraction of the regular cost?

5 - Debt payoff: what’s the best method for knocking out 4 credit card balances?

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

• Use Undebt.it to help you figure out a get-outta-debt plan
• If you make too much to directly contribute to a Roth, the "backdoor Roth" might be just the thing to get you invested.
• Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here. 
• Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
• Join a thriving community of fellow money in the HTM Facebook group.
• Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.

During this episode we enjoyed a Fat Pug by Maplewood Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

See omnystudio.com/listener for privacy information.

Time for a Friday Flight- our little sampling of the week’s financial news and what it means for your personal finances. There are a lot of headlines out there, but we boil them down to specific takeaways that will allow you to kick off the weekend informed and help you to get ahead with your money. In this episode we explain some relevant and helpful stories like: 

• RATE CUTS
• Pricey porch pumpkins
• Recency bias and expecting the rosiest returns
• Twitter for trading
• Job hugging
• Tips only please (no taxes on tips)
• 401k raiding to pay down debt
• Sticking it through a divorce (bc the mortgage rate is too good)
• Saving for a spouse
• AI for investing advice

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

• Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here. 
• Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
• Join a thriving community of fellow money in the HTM Facebook group.
• Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.

And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money. Have an awesome weekend!

Best friends out!

See omnystudio.com/listener for privacy information.

Benjamin Franklin once wrote “... in this world, nothing is certain except death and taxes.” It was true over 200 years ago and it’s true today! But we’re here to argue that there’s another certainty pertaining to taxes: that we all have the ability to change our individual tax rate by our own actions! Our guest today, Cody Garrett, has thoroughly internalized that reality. He is an advice-only CFP at Measure Twice Financial who specializes in helping folks make a comprehensive financial plan. That includes the role taxes play in your ability to meet your goals. His new book, Tax Planning To and Through Early Retirement, helps folks plan intentionally around a giant expense we all face, taxes.

We discuss the number of Americans, often involuntarily retiring before age 65, how Social Security should be factored into retirement planning but not solely relied upon, how small changes in savings rates can lead to significant retirement benefits, why flexibility in financial strategies is key to adapting to changing circumstances, and much more!

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

• Be sure and check out the "Tax Planning To and Through Early Retirement" Book: https://www.measuretwicemoney.com/book
  • And you can enjoy Cody over at Measure Twice Money on YouTube: https://www.youtube.com/@MeasureTwiceMoney
• Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here. 
• Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
• Find a thriving community of fellow money nerds by joining the HTM Facebook group!
• Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile.

And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

See omnystudio.com/listener for privacy information.