The Money Millhouse

Be sure to stick around after this special episode to hear the behind the scenes look with The Money Millhouse team! 

Bethany and Ellie open the show talking about some of the great deals they received from the Orlando Outlets, which they explain are things they splurged on but stayed in their budget. They give the secret to having name brands like Coach, but not paying Coach prices. They then magically transport to the FinCon18 USAA Podcasting booth in Orlando, where they talk to Cristin Gray from USAA.

With Cristin, they discuss Money Movement, which is moving money from one account to another account, wether it is a friend, a merchant, buying a home, etc. Cristin helps Bethany and Ellie with a ‘hypothetical ’ situation of moving money from person to person, as well as mobile pay options. Bethany remembers how she was able to pay for a transaction with her Apple Watch, and Cristin explains what USAA is doing to keep up with the digital capabilities that are emerging. She also explains data aggregation and how USAA’s members are able to securely interact with their accounts. They talk about ways they keep their members money safe, as well as the requirements it takes to be a USAA member (including how many civilians are a part of that community). 

Bethany and Ellie return to The Money Millhouse to talk about their USAA podcast booth experience from FinCon18, as well as sharing their total savings from the shopping spree they talked about earlier. They share their love for USAA and the reasons why they are members for life. They also talk about managing next steps and what they are doing to organize their post conference opportunities—including how long to wait before contacting people they have met at a conference. Bethany talks about the things she is working on post-FinCon, and explains what a one-sheet is. They discuss the importance of a debrief and an action sheet after a big event, and both Bethany and Ellie reveal their top 3 action items they are working on post-FinCon.

Resources:

Zelle

Service and Ink featuring 3 of Ellie's Sons

While The Money Millhouse is on hiatus, enjoy a special episode from our archives with Joseph Hogue. Stick around for 5 minutes behind the scenes look at the making of the episode from Ellie and Bethany's perspectives!

Bethany and Ellie begin the show talking about the fresh pumpkin pie Bethany made for The Money Millhouse. They continue their conversation discussing investments. Bethany is under the impression that Millennials have a hard time investing—especially when it comes to having money to invest. Ellie gives good tips on how to live within your means and the meaning of the millionaire next door. Bethany shares a close and personal story of where she is in her finical journey and how she has cut back in their home budget.

Joseph Hogue joins the Millhouse discussing the basics of investment. He talks more about why it is difficult for Millennials have a hard time investing. He discusses the importance of investing and what it means to be financially free. He gives some practical ways of finding the leeway in someone’s budget in order to invest, and he explores the different age groups and how investing changes as someone gets older. He explains that the stock market isn’t the only way to invest as well as some examples of other places you can invest your money. He talks about the investing habits of the wealthy and what investments can give a higher return. Bethany and Ellie end the show discussing side hustles and ways to make some extra cash in order to invest.

Bethany and Ellie are excited to welcome Bobbi Rebell, a professional journalist, broadcaster, author, and podcaster, into the Money Millhouse. She is the host of the Financial Grownup and the co-host of Money in the Morning podcast with Joe Saul-Sehy. Before she comes to the kitchen table, Bethany and Ellie discuss when they first felt like an adult and the impostor syndrome that goes along with being a grown-up. Bethany also teaches Ellie the meaning of YOLO. 

When Bobbi comes into the Millhouse, she helps Bethany and Ellie out with what it looks like to be a Financial Grownup. They also talk about situations where parents bailing kids out financially may hurt them and not help them. They also touch on how children learn from their financial group parents, learning not to judge others for their money choices, and the importance of having a (balanced) delayed gratification. 

On this episode of The Money Millhouse, Bethany and Ellie talk about purchasing homes and what Bethany is learning as she goes through Financial Peace University with her husband, Travis. 

They are joined by Wendy Mays, mompreneur, former criminal defense attorney - turned Realtor - turned Podcaster and Blogger. She hosts the top-ranked podcast House of FI with her better-half, Curtis, that aims to inspire and encourage families of all shapes and demographics to achieve financial independence by teaching them to become debt free, build wealth, and increase their income. They talk about how someone (like Wendy) can reach Financial Independence by leaving the lucrative life of being an attorney and with six kids in tow. They also talk about ways not only to cut back on expenses, but to make more income as well. 

Bethany and Ellie have a great time at Ellie's kitchen table talking about the Latte Factor. They crunch numbers when it comes to tiny expenditures and what it would look like to invest that instead. 

Chris Browning joins the conversation to talk about Tiny Homes and a recent series he did on his podcast, Popcorn Finance. He discusses the reasons why people move into tiny spaces and some of the hidden expenses when it comes to owning it. 

Bethany and Ellie come into The Money Millhouse happy and excited for a new episode! Also at the kitchen table is Tiffany Aliche who discusses a new study from Intuit on prosperity. Before she comes in, they talk about their definitions of prosperity and ways to achieve prosperity. 

Tiffany Aliche joins the conversation on prosperity by sharing the study conducted by Intuit because they want prosperity to be accessible for everyone. As a part of that, they talk about starting a business and how it is a direct line to prosperity. They talk about financial role models, and how investing time will always have a return--wether it is being successful in your endeavors or learning something for the future. Tiffany shares a story about how it is more important what you do in front of your children and not necessarily what you tell them. They end the conversation with a hopeful statistic that a majority of Americans believe prosperity is in their future. 

Resources: 

#ProsperityforAll

Intuit.com/prosperitystudy

Today on the show, Tom Drake talks about side-hustling apps people can use to make money. Before he comes in, Bethany and Ellie talk about Bethany's trip to Disney World and her Star Wars 5k experience. 

Bethany also offers to send a post card from her coffee subscription. Continuing their conversation from last week, Bethany and Ellie also talk about interview prep and steps you can take to ace any interview. 

Tom Drake of Maplemoney.com comes into The Money Millhouse sharing apps to help save money: 

Uber (drive people)

UberEats (deliver food)

AirBnb (rent your house)

Turo and Outdoorsy (rent your car/rv)

Rover (walk dalks / dogsitting)

TheIPKID and SayABC (english tutor)

Etsy (turn craft hobby to income)

Fiverr (do almost anything)

FreeeUP and Upwork (freelance)

Zazzle and CafePress (design shirts, mugs)

Teachers Pay Teachers (sell lesson plans)

Siteground (start a blog)

Sell on Amazon (MYQHJ)

Bethany and Ellie start the show discussing how important interviews can chance the course of your life. They also talk about the different kinds of interviews, wether they be for a job, or an acceptance into a college or university.

They are joined by Patrice Washington, founder of Seek Wisdom, Find Wealth. They discuss the “mindset approach” to personal finance, how to define the term “wealth,” and what's a common pitfall for people when it comes to personal finance. 

This week in The Money Millhouse, Bethany and Ellie are joined by Ryan Inman, the host of The Financial Residency podcast. Before he comes into the Millhouse, Bethany and Ellie discuss the cost of higher education. They discuss the ideas of getting another degree and what career they would have had in another life.

When considering returning to school, there are other things to take into account like time, your family, who will take care of your children, emotional energy, relationships, hobbies, buying a home, etc. 

There are also benefits of going back to school can be that you can earn more income, you could change career fields, following your passion, the desire to help people, etc. 

Ryan comes to Ellie's kitchen table to discuss the student loans associated with major degrees like becoming a doctor. Ryan works with physicians across the country who have an average of $283k in debt. This often means delaying having kids, delaying having homes, etc. He also says that debt can get out of the hole if they don't let other bad financial habits get in the way. He also discusses ways to get over the student loan crisis and crunches the numbers when it comes to paying those loans back over time. 

Bethany and Ellie end the show discussing the financial difference between becoming a doctor or a lawyer, and which degree has a better return on the investment. They also discuss the specific top 10 law schools when it comes to the best ROI. 

Resources:

The Financial Residency Podcast

financialresidency.com/studentloan/ 

Bethany and Ellie open the show discussing ways to invest your time that will have the best return on your investment. Robert Shaye joins them to talk about investments, including how old he was when he first started investing, the different between a ROTH and Traditional IRAs, and the work he is doing with his brand, Fireside Finances. 

Resources: 

Fireside Finances

How to Spend Time in Ways That Make You Happy from Business Insider