Why does it matter if you live in a high cost of living (HCOL) vs. a low cost of living (LCOL) area? With the rise of remote work, the proximity of family and the price of everything from gas to a gallon of milk on people's minds, it can matter a lot. But just because you can afford a mansion in West Virginia doesn't mean you should move there right away. In this episode we talk about what you really want out of the place you're going to live, why it makes sense to put down roots when you have a family, and how you can use living in a HCOL area to your advantage.

What is HCOL, VHCOL and LCOL? by the White Coat Investor
Cost of Living Index by State
Cost of Living Calculator by NerdWallet
The Number of People Primarily working from home Tripled Between 2019 and 2021 by US Census
Nearly 30 percent of work remains remote by The Hill
More than Half of Americans live within an hour of extended family by Pew Research
Mortgage Rates Forecast for 2023 by Forbes
Cost of Living Adjustments by Indeed

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Here we go with part 2 – What's the kid's responsibility and what's the parent's responsibility? How much do we need to tell our kids, and how to gauge whether to say something to our kids ("is it true/kind/necessary and will it help your child feel secure?"). We talk about stories from Kim John Payne's book, including the story of a mom going to a new park with their 2 year old, and how a group of parents in New York fell into the "peer-parenting" trap. We talk about how to stop a kid from interrupting, from making unreasonable demands, and  how to ultimately recognize the best in our kids instead of pointing out things we don't like.

Simplicity Parenting by Kim John Payne

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Join me as we discuss the power in Simplicity Parenting, a way to streamline your life and family values so that you can raise kids to be "calmer, happier and more secure". We'll talk about ways to increase rhythm and regularity in the home, how to deal with media and marketing to children, how kids actually do better with rules, and even tips on how to help your kids not watch too much tv.

This book is filled with so many great ideas that I'll be doing a second part next week, so stay tuned!

Simplicity Parenting by Kim John Payne

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How many kids do you want in your family? It's only been in the past 100 years or so that women and partners have even been able to ask this question of themselves. Today we're going to talk about some of the reasoning why people may want or not want to have children and 4 key tips to figuring out how many kids you want to have. We'll talk about the majority of family's "ideal" number, and how their own upbringing can effect their choice.

Please reach out if you have any comments or questions - or better yet, share with a friend. As always you can contact me at [email protected]!

A Timeline of Contraception by PBS
What Number of Kids Makes Parents Happiest? by the Atlantic
One Baby or Two? Study by UPenn

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What does it mean to pace yourself with your goals? It's knowing your limits, avoiding overwhelm, and taking action when necessary. But it's also knowing when to unplug from the things that are causing you to worry. Much like a guitar amp being left plugged in, our sources of stress are unconsciously making it harder to focus. If we set smaller, automatic goals into our routines, then we'll free up our minds to be less burdened by stress.

Let me know if you liked this episode by leaving a rating or review! And thanks for listening!

Tiny Habits idea of Shine by BJ Fogg
Profit First by Mike Michalowicz
What is Financial Burnout? by Experian
How are Americans Coping with their Financial Burnout by Tearsheet
How Many Calories Can a Brain Burn by Thinking? by Livescience

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Is it ever a better financial choice to be a stay-at-home mom? Aren't two incomes always better than one? Today we talk about the top insights from "The Two Income Trap" by Elizabeth Warren and Amelia Warren Tyagi, both powerhouse working mothers who detail why the post 1980s era has been worse for the average family's finances. Basically, the fixed costs in a family's budget have increased while the income gains have been nonexistent, which means that even with two parents working its harder to get by. And what happens when one of the working spouses loses a job? Many times it's falling off a financial cliff, leaning on credit cards and assuming bankruptcy.

But what if you could make it work on one income and a spouse stays home? Then, in the case of an emergency, you could switch childcare and working roles to tide you over. Although this is becoming less and less feasible, with proper planning and alignment in financial goals and values, having a stay at home mom can be the ultimate insurance policy.

The Two Income Trap by Elizabeth Warren and Amelia Warren Tyagi
Statistics on the share of household chores and childcare by Fatherhood.org
Sen. Warren to Wells Fargo CEO on Youtube

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What's the antidote for wanting to buy something? Today I'll give you a 2-step approach to making buyer's desire go away without paying a cent. We talk about why people buy when they do, how to sit with uncomfortable feelings and get at the root problems we're trying to address. 

5 Overwhelming Desires That Can Urge You to Buy More
The Growth of Online Ordering

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What does it take to NOT spoil your kids? In today's age of materialism, consumerism and overspending, that can be a hard question to answer. Today I'll summarize my favorite points from "The Opposite of Spoiled" by Ron Leiber, a financial columnist at the New York Times and father himself. We'll discuss the key things that define a kid as spoiled (hint: it's not all about money!), how to avoid spoiling as much as possible, and ways we can get our kids involved in the process. So join me as we make your kids a little stronger, a little more financially resilient, and a lot more well-rounded and grounded.

The Opposite of Spoiled by Ron Leiber

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Yay! Your kid is going to college! Now, how are you going to pay for all this?

Today we discuss college costs, including room and board, and how to save money by getting scholarships and financial aid for tuition. We'll talk about how prevalent a college education is, how many high school grads go to college and what other avenues might be available. From Pell grants to the $100 million of unclaimed sholarships, we'll get you and your kids closer to signing up for less (or no!) student debt in the first place.

If you enjoyed this episode, please share it with a friend or family member. This podcast relies solely on your support and I'd love your help in getting it out there to more people. Thanks!

The Ultimate Guide to Scholarships on Reddit
College Enrollment Statistics in the US by Best Colleges
College Enrollment Rates by National Center for Education Statistics
What Percentage of High School Students go to College by Admissionly
Average Cost of College and Tuition by Education Data Initiative
$3.6 Billion of Financial Aid Goes Unclaimed Every Year by Fastweb

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Yikes! College is expensive! Surprise! Well, maybe not that big of a surprise. Now the question is, how do I save to pay for my kid's college education?

If you've decided you want to pay for some or all of your kid's education expenses, now is the time to get started. In this episode I'll talk about how we plan to pay for our kid's college in a 529 plan, how much we saved in the beginning and how much we plan to save per month to reach our goal of $150k for the 3 of them. We'll talk about the tax advantages of using a 529 plan, how to figure out how much tuition will be in the future, and what tools I've used to come up with that monthly contribution. I'll walk you through how to come up with your own magic number as well.

Join me next week as we talk about ways to decrease the cost of college!

And as always, feel free to reach out to me at [email protected] or DM @kaeliwood on instagram. I'd love to hear from you about your own college saving plans!

College Cost Projector by Vanguard
Compound Interest Calculator by Investor.gov
What is a 529 Plan by Saving for College
How Much is Your State's 529 Plan Deduction Really Worth? by Saving for College

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