The US Federal Reserve just lowered interest rates - what does that mean for you and your finances? Listen here to find out!

Full show notes at https://www.moneyowners.com/21

Q&A Day!

1. How to cut out mindless spending - if you don't like the results of your mindless spending

2. How to solve a financial crisis and learn to communicate better with your spouse

3. How to think about retirement savings

4. How to set goals that will actually help you get somewhere

Episode 19 - all about generosity and being present with your family. Sometimes, it's not all about money!

How to follow advice - 1st step, agree with the advice being given to you!

Rest of the show notes at https://www.moneyowners.com/18

Send in your questions @MorgenRochard or @Money_Owners on twitter!

We can have anything we want but not everything we want, no matter how much money we have.

We tend to spend our money how we spend our time

Forming good habits early is best because otherwise you will always find something to spend your money on, even if it doesn't enhance your life

You need to evaluate your behavior if you want to change - can't change it, if you don't recognize it's a problem!

Best time to start having good habits is right now!! Regardless of age, you can make changes!

A budget doesn’t have to be restrictive, but is meant to put some sort of constraint on you

3-4 categories that we all know are out of control - check those first

You should be saving both in a retirement account AND outside a retirement account

Your budget actually equals financial freedom. The numbers give you the freedom to spend without guilt.

So much guilt associated with “overspending” - or simply just any spending when you’re feeling a little out of control.

Review your credit card statement - it’s fun! Make it a game! Tack it on to other habits so you can get it done and make it easy!

Tracking daily spending if you’re having issues with spending is the best way to curtail spending in places that you don’t want to.

Budgeting spreadsheet is live go to https://www.moneyowners.com/17 to get it

Fixed expenses - yes these matter! If these are high, you’re going to have trouble saving (home, car, subscriptions)

Number one way to become wealthy is to manage your fixed expenses!

Plan for extras!!! Put a buffer for extra things that may come up into your budget so you're not surprised - be surprised that you saved more not that you spent more

Entitlement - this is a thought, you’re choosing entitlement

Fixed expenses hurt the most - subscriptions, regular bills, mortgage/rent

Hobbies, what’s appropriate? Kind of depends!

Distinguish between a hobby and a necessity

Have a question you want answered on the podcast, find me on twitter @MorgenRochard or @money_owners

Don't count your chickens before they hatch? Yup - we cover the story about the milkmaid and her pail.

Count some chickens - it's ok! Just don't spend them, or have your head so far in the clouds that you can't make it happen.

This episode covers why dreaming a little is actually good for you!

Also - perusing catalogs as a pastime, ie thinking about buying things rather than actually buying them

You can conjure emotion

Your junk closet should be cleaned - but maybe stop buying so much stuff you don't need. Make Amazon's "save for later" your junk closet

Feeling love can help your financial situation!

Homework can be found at https://www.moneyowners.com/16

Have a question, DM me on twitter @MorgenRochard or @Money_Owners

Our 3rd Q&A, thanks for sending in awesome questions! Keep em coming!

Q1: Why don't we teach kids personal finance in school - the answer was really more about teaching your kids personal finance yourself!

Q2: How to manage cash flows when both members of the household are small business owners - bonus! How to know how much house you can afford, visit www.moneyowners.com/15 to figure out how to calculate for yourself

Q3: How to know when it's the right time to save for retirement as a business owner?

Q4: What is an appropriate amount to spend on a wedding?

Want to get a question answered? Go to www.moneyowners.com/askmorgen OR find me on Twitter @MorgenRochard or @Money_Owners

This episode is all about FI/RE (financial independence/retire early) and financial freedom. What's the difference between the two? As usual - there's a twist about your brain! Listen to find out!

Do you really need to be financially independent or can you change your reality right now?

Q&A in 3 weeks! Send in your questions to @MorgenRochard or @Money_Owners

All about income! Yes - your thoughts are the problem. We discuss how we get in our own way when it comes to making money, what drives income, and some basic negotiating.

Homework can be found at https://www.moneyowners.com/13

How do you want to think about paying taxes? Yup - you get to decide! I know, crazy, right? In this episode we discuss cleaning up your thoughts around paying taxes from 2018. We run through a few interesting tax scenarios. We also discuss reasons to plan ahead for filing in 2020 NOW and how to relinquish some of the angst around filing 2018's return.

This episode can be found at www.moneyowners.com/12

I also reference Smart Asset: https://smartasset.com/taxes/

This is my favorite free tax tool out there! Check it out

Lastly, if you have a question to submit for episode 15 let us know at https://www.moneyowners.com/askmorgen or @MorgenRochard or @Money_Owners on Twitter. Thanks!