Inside Out Money

We kick off this new year with a discussion on how to improve your financial wellness so you’re thriving versus surviving. We discuss actionable steps to improve your financial wellness and how to leverage James Clear’s Atomic Habits four laws of behavior change to build stronger habits. 

Greg joins this week’s podcast as we talk about:

- January is financial wellness month

- The psychological power of a new year on making changes

- James Clear’s four laws of behavior change from his book Atomic Habits 

- Taking control and agency over your finances

- How to survive vs. thrive financially

- The importance of setting goals and making a specific plan

- A high-level “order of operations” of what to focus on financially

- A few of our 2025 financial goals

Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/091-how-to-build-awesome-habits-and-improve-your-financial-wellness/

All of the co-hosts join this end-of-year episode, and we share our peaks and pits, favorite purchases, financial regrets, wins, and our intentions for 2025. Join us for our end-of-the-year podcast party! 

Liz, Andrew, Erica, and Greg join this week’s podcast as we talk about our:

- Peak and pits of the year

- Some of our favorite podcast reviews

- Favorite books and podcasts of the year

- Favorite purchases of the year

- Worst purchased and/or financial regrets this year

- Financial wins this year

- Financial goals and intentions for 2025

Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/090-end-of-year-podcast-party-with-all-the-co-hosts/

We debate whether gift cards are the best gift ever or an ongoing burden to the receiver. We also recommend creative and simple ways to make gift card gifting more personal and ensure you keep up with and use any gift cards you have received.

Liz joins this week’s podcast as we talk about:

- Whether or not people like receiving gift cards 

- The pros and cons of gifting and receiving gift cards

- Simple and creative ways to make gift card giving more personal

- Ideas for keeping up with all of your gift cards and making sure you use them

- What you can do with gift cards you don’t want or plan on using

Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/089-the-gift-card-debate-safe-choice-or-worst-gift-ever/

This week, Greg and I answer your money questions about relationships, difficult financial conversations, how we track our money, how we’re trying to raise our kids to spend intentionally, financial independence feeling unattainable at lower salaries and more!

In this week’s podcast, we talk about:

- Our number one purchase this year

- How we approach using high-yield savings accounts and local banks like Bank of America

- How financial independence can be unattainable at lower salaries and what to do about it

- How we approach spending during the holidays with our kids

- What we’re doing to raise our kids to be more intentional with money

- Whether we’re considering any employment after our kids go to college

- Pickleball

- How we track our money, down to the specific Google sheet

- Our drawdown strategy in early retirement

- If our stress level has changed after retirement

- Our approach with joint vs. individual accounts

- Communal living versus traditional living

- End-of-year tax optimization

Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/088-listener-qa-with-greg-managing-difficult-financial-convos-fi-feels-unattainable-raising-kids-to-spend-intentionally-stress-levels-post-retirement-and-more/

We review two listener case studies, share their financial situations and backgrounds, and answer their questions about how to move forward with their finances. 

Andrew joins this week’s podcast as we talk about:

- If you should renew a term life insurance policy in your 70s

- The importance of accessing your 401K and other retirement accounts and understating what you’re invested in

- Whether or not you should pay for your house

- What to do if you feel behind on your finances

- Running a retirement calculator to see when you could potentially retire

- Investing in a HYSA vs. stocks when you’re in your 70s

- What to do if you’re too cash-heavy

- How to get started with a 529 plan

- The tradeoff of buying a larger home or retiring earlier

- High-yield savings accounts, maxing out your 401Ks, and more! 

Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/087-case-studies-where-to-focus-when-youre-feeling-investing-life-insurance-and-paying-off-your-mortgage-in-your-70s/

Here are all the financial moves you should aim to finish before the end of the year to ensure you finish the year strong and set yourself up for success next year. We cover the basics you’ve already thought of but might not have done yet and some new ideas you may not have thought of. 

Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/086-end-of-year-money-moves-to-finish-the-year-strong/

Psychology plays a significant role in our financial decisions, and we can use it to our advantage to trick ourselves into spending less money and saving more. We share many tips and tricks for spending less and being more intentional. 

Liz joins this week’s podcast as we talk about:

- The role psychology plays in influencing our spending decisions

- How retailers are aggressively using psychology to influence us to buy more

- Tactical ways to trick yourself into spending less money

- The value of tracking your spending

- Envelope systems and Qube Money

- The value in putting a barrier between an impulse and a decision

- The value in tying our spending decisions to something else

- How to leverage thought patterns to change our spending habits

Get the full show notes, show references, and more information here:  https://www.insideoutmoney.org/085-trick-yourself-into-spending-less-money/

In case you missed it, Trump won the 2024 election. We’re talking about the impact of Trump in office on your finances and how to prepare yourself. 

Greg joins this week’s podcast as we talk about:

- Trump winning the 2024 election and the impact we expect it to have on your finances

- The expected impact of tax rates, tariffs, stocks, deregulation of cryptocurrency, interest rates, tech industry regulation, the ACA, and more.

- The importance of focusing on what we can control versus what we can’t

- How to prepare for the worst but hope for the best

- What we can each do today to prepare financially

Get the full show notes, show references, and more information here:  https://www.insideoutmoney.org/084-trump-2-0-and-its-impact-on-your-finances/

Some people are so focused and disciplined on reaching a FI or FIRE goal that they don’t enjoy the present. Others are so focused on living for today that they don’t plan or save for the future. Which is better? We discuss the extremes of both and how to appreciate the need for both and strive for balance.  

Erica joins this week’s podcast as we talk about:

- The pros and cons of living for today vs. saving for tomorrow

- The magic middle and balance between the two

- Extreme budgeting, deprivation, and reckless spending as extremes

- Tactical tips for finding your balance

- A challenge to reflect on your balance and how you’re enjoying today vs. preparing for tomorrow

Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/083-live-for-today-or-save-for-tomorrow/

We review two listener case studies, share their specific financial situation and background, and answer their questions about how to move forward with their finances. 

Andrew joins this week’s podcast as we talk about:

- How to know when you have enough to retire

- If investing in all index funds is too risky

- How to estimate and plan for unexpected expenses 

- How to get started when you’re stuck and overwhelmed 

- What to do when you hit set backs in the getting started process

- Where to go for good information when you have questions

Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/082-case-studies-how-to-get-started-when-youre-stuck-burnt-out-and-how-do-i-know-when-i-have-enough-to-retire/