In this short solo episode, Nikita goes over the topic of combining (or not combining) finances in a relationship. She goes over common approaches to navigating finances in a partnership, and what experts tend to agree on as the "best approach".

Additionally, Nikita covers how to navigate joint finances if one partner isn't working (especially in cases of raising children), when incomes are lopsided, and the logistics of how to split things equitably rather than equally. 

You may see this change for yourself & your relationship over time, but this episode covers some questions that might help lead you towards the answer that's right for you in this season of life. 
 

In this episode, Scott discusses what 529 Plans are. 
Some topics covered:

• Benefits
• Limitations
• How to navigate your options

3rd Decade Program Manager, Nikita Wolff & Lead Financial Mentor, Jennifer Edwards discuss the dilemma between renting or buying (depending on your situation).

In this episode, they cover:

• Tax benefits (or the myth of them to the common tax payer)
• Hidden costs
• The 5% rule as an easy way to find equivalent rents/mortgages
• Recommended Debt to Income Ratios (that are more sensible than industry standards)
• General advice to future homeowners
• Pros & Cons of both renting & buying

We hope this episode serves as a resource to show you that owning a home is not the right choice for everyone, and that you don't need a home to be financially successful. 

In this episode, Scott & Nikita discuss refinancing.

Often times refinancing is sold as a "no brainer" if you can lower your monthly payment. There are, however, some additional aspects to consider.
Including, but not limited to:

• If you used a first-time home buyers program with special clauses
• What your closing costs on the new loan will be
• How long you want to be in the house
• If you're investing your extra money now or just spending more and extending your loan

If you're evaluating this decision for yourself, these tools may be useful:

1. Loan Comparison Excel Template
2. Refinance Comparison Calculator

In this episode, Scott discusses Rollover IRAs: what they are, when they're relevant, & their benefits. 
Common reasons for establishing a Rollover IRA are:

• Consolidating where your accounts are held
• Lower fees than 401ks
• More control over your money

If you have an old retirement account from a previous job, you may want to consider this for yourself. Scott points out some of the things to keep on your radar, how to start this process, and the benefits of doing a "direct transfer" to a Rollover account to avoid any potential penalties or taxes. 

Join Scott Bennett & Dan Otter for today's episode on 403bwise; an organization that Dan founded to help K-12 educators navigate and make the best of a very flawed 403b system. In this episode, they discuss different resources available, things to look out for in your plan, and questions to ask your plan administrators - insights that can be applied to not just 403b's, but all employer sponsored plans.

403bwise.org

Join Scott Bennett & veterinarian Dr. Sarah Neuser as they discuss some of the costs associated with owning pets, in addition to how you can minimize certain expenses through preventative care. Additionally, Dr. Neuser goes over some of the benefits of holding Pet Insurance, as well as what to look for when price shopping and selecting your plan. 

As a sequel to our last episode, Part 2 focuses on a conversation between Jennifer Edwards & Nikki Wolff. They discuss how she addressed these subjects in her own home, when she introduced certain concepts, and what she learned along the way. 

Join us today for part one of a two-part podcast on Financially Literate Homes. 3rd Decade's Lead Financial Mentor, Jennifer Edwards, made financially literacy a big part of her children's upbringing. For this episode, her 3 children came on to discuss what this looked like for them growing up, how it's shaped them, and what they plan to implement in their own families some day. 

For our next episode, you will hear Jennifer share her personal insights behind why she did what she did, when she began the conversation, and much more. 

Join Scott and Nikki as they converse with 3rd Decade team member, Nicole, about how she's incorporated no-spend challenges into her life, as well as other ways she and her husband have financially, mentally, and physically challenged themselves and made discretion a huge part of their lives. 


A few notes from Nicole:

• A no-spend month isn’t a replacement for tracking your spending and setting a proper budget, but it is one way to see just how much of your spending is ‘discretionary’ which roughly translated means unnecessary.
• Ask yourself what your motive is for the no-spend challenge and approach it with the right mindset
• Prepare in advance and communicate well with your partner/household (or any family/friends who may be affected)

A resource that may help in getting started (especially for those who aren't already used to cooking at home):
The 4 hour Chef

List of free activities to do:

• Go for a hike
• Look for free local events
• Schedule “play dates” for the kids at the house
• Play card games
• Play board games
• Go to the beach
• Read a book
• Go to a state park
• Camp in the backyard
• Ride bikes
• Go to the library
• Deep clean
• Declutter the house
• Do a craft project