The Money Millhouse

Bethany and Ellie start a brand new season of The Money Millhouse! After celebrating the first episode of season 2, they dive into talking about buying a home. Bethany admits she is a little discouraged at the price of homes and how she and her husband are saving up to buy their first house. Ellie gives several ways to make money in real estate. 

Joining them on at Ellie’s Kitchen Table is Joseph Kelly, the National Director of Heroes Come First. He shares why this cause matters to him and how Heroes Comes First is able to give back to active and retired: Military, Law Enforcement, Firefighters, Medical professionals and support, teachers and clergy whenever they are buying, selling, or refinancing a home. He also lends his advice when it comes to steps in buying a home and how to look for the professionals to help them. He offers a checklist of qualities to look for when looking for those people to make the process as least stressful as possible, as well as the VA option for our military members

Bethany and Ellie end the show talking about how these rewards can add up to thousands of dollars when buying a home. They also discuss expenses that can come up when moving into a new home. They also update the audience on Bethany’s new role at FinCon, the Live Podcasting they will be doing from there, as well as a Facebook Live version of Drinks with Darbi.  

Bethany and Ellie start with a bang discussing online grocery options, the possibility of working with their respective spouses, and a true test of a relationship: traveling. Nancy Anderson joins the conversation with real proof that being in business with your spouse is very possible. She explores how she and her husband developed their property development company together from their first property to their latest property. She also has some advice for the people looking to dive into the rental property business, including sacrificing the short term for the long term gain. She and her husband are a team when it comes to business, and she talks about some of the goals they made early on. Nancy and her husband, Ron, travel the country speaking to couples about sacrificing short term to succeed in long-term goals.

Bethany and Ellie reminisce about their time learning to surf in Hawaii and their surfing instructor and Money Millhouse guest, Doug Norman. They also talk about their side hustles, what a side hustle is, and their goals and objectives when it comes to what their side hustles yield. They discuss financial independence and being able to retire early (also known as the FIRE movement).

Doug joins Ellie’s kitchen table discussing the Blended Retirement System, the new Military Retirement System, as well as how he and his wife were able to retire early. They touch on asset allocation, high savings rate, how to save as a civilian, what to do as a retired couple, as well as travel hacking as a vet. Bethany and Ellie wrap up the show clarifying a lot of the big words and concepts Doug used.

Today on the show, Ellie and Bethany talk about communicating to your spouse about money. Pam Farrel joins in the discussion with talking about how men are like waffles and women are like spaghetti. Learn how to talk about those important money conversations and why men and women are different when it comes to relating to this subject.

Bethany and Ellie open the show talking about how it pays to be kind, ways to be generous, and why it is important to have freedom in your budget to be able to do those things. They also reminisce about the time Bethany didn’t tip someone who helped her with her bags, but how they were able to remedy the situation. Bethany explores the reasons why she occasionally gets things for free, and why it pays to be around nice people.

Ginger Harrington, author of new book Holy in the Moment, joins the conversation about the kinds of investments it takes to write a book. She talks about the concept of making intentional choices and to how invest in today to build for tomorrow. They talk about the Scarcity Mindset vs. the Abundance Mindset, and how making good choices can lead to opportunity. She shares one area she thinks differently in her life 10 years ago verses right now, and learning how to be intentional with resources, time, friendships, etc.

Ellie and Bethany kick off the show raving about their star guest, Joe Saul-Sehy and their experience at FinCon this year. They also talk about financial education, both formal and informal, and the different ways people can learn. Then Joe from award-winning podcast, Stacking Benjamins, comes into the Millhouse to talk about the reasons he likes his coffee a certain way, and the Save50 course he created that will teach you to save 50% of your income.

They also discuss the key to financial education: “It isn’t about what you know, it is about what you do.” Joe also shares some of his money stories that taught him the dangers of credit, how to recover after some credit decisions, as well as a pretty crazy encounter with a hotel room’s mini-bar. Bethany and Ellie finish the show talking about ways to graduate college debt free. They also discuss why a work ethic is important to financial education, as well as the balance between balance and work as an entrepreneur.

Bethany and Ellie discuss the unscientific differences between caffeine levels in dark roasts vs blond roasts. They then talk about teaching kids about money, including their adventures teaching the children of Navy Seals. Ellie talks about her methods behind giving her children an allowance when they were young, while Bethany reminisces what rewards she would receive by being a military child.

Chad Bourquin, who owns three businesses, joins the Money Millhouse talking about his band, Dream Big Series, and how they developed. He touches on the Zone of Genius from the book The Big Leapand what that looks like for him, how he handles being an entrepreneur, and how he stays organized. According to Chad, it is really hard to go after your dreams if you are in debt and he touches on why it is so important to be financially responsible. And Bethany is happy to know that at the age of 27, she can still dream big.

Bethany and Ellie end the show talking about the 401K conference coming up, as well as their favorite conference—aka “The Disneyland for Finance”—Fincon. They elaborate on the Zone of Excellence and where they feel they operate. Ellie also discusses they ways she keeps her craft sharp, and Bethany remembers where she first learned the sense of professionalism and the spirit of excellence.

Paul Vasey joins the conversation sharing his approach to teaching children about money through games. He said this was his approach to teaching kids at a young age so they don’t grow up to going into debt. According to Paul, parents should be talking to their children about money from day one because children understand and observe very early, which is why parents should be a good example for their kids. In a game situation, they are teaching kids money habits and opening up conversations between parents and their kids. He also gives great tips about saving money and how you can teach your children about money principles.

Bethany and Ellie finish up the show with discussing the value of money, and Bethany remembers how Ellie put an emphasis on safety when her kids were growing up. They revisit the discussion of college—should parents pay for it, or should children earn it? 

Gerri Detweiler is in The Money Millhouse today with Ellie and Bethany to talk all things Credit. Before she stops in, Bethany talks about her favorite pair of shoes, why rules don’t apply to her, and unusual places you can find Bed Bath and Beyond coupons. Gerri talks about credit card myths, nuances in the credit space, and why closing credit accounts could hurt your credit score instead of hurting it. Also find out why Ellie and Bethany really mean when they call certain things “stupid.”

Today Ellie and Bethany hop in the car on a road trip to meet JJ Montanaro to talk about planning for the future. On the way, they discuss saving money on travel—from road trips to International trips, there are a lot of great resources out there to help you. JJ suggests to have a plan when saving: Start Early, Start Small, and Stay Committed. He touches on deterrents to saving money, having a stash of cash for an Emergency Fund, long term goals like Retirement, home down payment, vacation, then moves onto having savings accounts earmarked for specific goals, what percentage should go into savings, what to look for when it comes to BRS. Once Ellie and Bethany get back to the Money Millhouse, they talk about their own savings goals, the importance of an Emergency Fund, and finish on why serving the Military is so near and dear to their hearts.