#054 | Covid, Cars, and Chit-Chat

Fromfriends on FIRE

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#054 | Covid, Cars, and Chit-Chat

Fromfriends on FIRE

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Length:

43 minutes

Released:

Jul 30, 2020

Format:

Podcast episode

Description

This is one of those episodes where you’ll just have to listen to get the details. Enjoy!

Released:

Jul 30, 2020

Format:

Podcast episode

Titles in the series (100)

?On a mission to get friends to talk about money ?Sharing our FIRE journeys, personal finance advice, and frugal tips Hosted by 2 Friends on FIRE - Mike + Maggie **Leave a voicemail or text us at: 404-981-3370**

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#058 | How to pursue your passions and love life: We get a voicemail from a listener with a demanding corporate job who dreams of pursuing her passion to start a winery. We share our thoughts on what passions mean for your life, how you can find them and how you can pursue them. We also discuss the financial considerations for when and how to “make the leap.” by friends on FIRE
39 min listen
#005 | Growing Wealth - Pillar #2: The second pillar of financial independence: growing wealth. As you are saving more and more money, you need to put your money to work for you and grow your wealth. by friends on FIRE
30 min listen
#000 | friends on FIRE Intro: Welcome to friends on FIRE! by friends on FIRE
7 min listen
#012 | Kids are the Best! - Part 2 (Interview): On the last episode we talked about kids and money, and our beliefs in this area. So this episode we decided it was only fair to bring on our kids, ages 3 to 11, and ask them hard-hitting questions! We get their thoughts on happiness, money, views on debt, if we should work more or play more, what the most important objects are in their lives, and who is the best podcast host. by friends on FIRE
24 min listen
#002 | friends on Fire Unscripted and Unrehearsed - Part 2: Unscripted and unrehearsed. Maggie tries again to time the intro. The conversation continues, exploring why friends don’t talk about money and how people can grow if they open up. by friends on FIRE
28 min listen
#016 | 401ks are your BFF: Mike and Maggie talk about 401ks and 403bs, which are retirement savings plans. We talk about the benefits of 401ks, the myths of 401ks, and we challenge people to, at the bare minimum, put in the amount their company is matching. And the best-case scenario you’re maxing it out to $19,500 (the max the IRS allows). by friends on FIRE
23 min listen
#006 | Finding Freedom - Pillar #3: The third pillar of financial independence: finding freedom. The reason we are spending less and growing our wealth is to get to financial freedom. While we’re both not yet ready to leave our jobs and take the plunge, we find immense happiness in knowing that we can if at any point we need to. It takes the pressure off work when you’re not dependent upon a paycheck. by friends on FIRE
27 min listen
#007 | 2020 Goals + How to Set Them: Mike + Maggie cover an important topic for 2020: Goals and how to set them. We talk about the importance of setting SMART goals (Specific, Measurable, Attainable/Assignable, Relevant/Realistic, Time-Bound) and the importance of tracking against your goals to make progress. We then share our personal and financial goals for 2020. Listen to help get your 2020 started on the right financial foot. by friends on FIRE
32 min listen
#004 | Spending Less - Pillar #1: The first pillar of financial independence: spending less. Mike and Maggie philosophize about being happy with less and finding level of spending that’s sustainable, laying the framework for financial independence. by friends on FIRE
29 min listen
#001 | friends on Fire Unscripted and Unrehearsed - Part 1: Unscripted and unrehearsed. Mike and Maggie jump right into podcasting, discussing their friendship and why most people don’t talk about money with the important people in their lives. by friends on FIRE
25 min listen
#023 | Happiness Sex and Money: In this episode we discuss the many benefits of improving your financial life, which leads us to a discuss on happiness, sex, and money. We cover the top 5 reasons we believe you should improve your finances and get financially fit. Getting financially fit will improve your sex life, Maggie guarantees it. by friends on FIRE
23 min listen
#008 | Retired Toddlers Interview: In their first interview, Mike + Maggie interview Michelle and Jake from the Retired Toddlers. They are are a full-time traveling family that sold their home in 2016 to spend more time with their 2 young kids, and ever since then they have been traveling the world The Retired Toddlers share their priorities in life, how they travel, and their views on money. by friends on FIRE
48 min listen
#013 | From Counter Terrorism to Entrepreneur - Adam Goldberg Interview: On this episode we interview Adam Goldberg. Adam has a fascinating career background, and shifted from a career in counter-terrorism to corporate America as a consult to a professional photographer and instagram influencer. Adam shares his view on finances and how it gave him the freedom and cushion to make some big career changes in his life, and how he’s grown since then. by friends on FIRE
35 min listen
#017 | Crazy Frugal Stuff We Do: In this episode Mike and Maggie discuss some of the crazy frugal things they do to save money, from cutting open toothpaste containers to get a few more weeks of toothpaste to waiting 6-8 weeks for a battery to arrive from Hong Kong. We hope this episode will inspire some crazy frugal things to help save your wallet, and the planet. by friends on FIRE
26 min listen
#018 | House Hacking with Andrew Kerr + 2020 Goals Check-In: In this episode we interview Andrew Kerr, host of the House Hacking Podcast and a real estate expert. Andrew teaches us all about house hacking, which is about making slightly different choices with housing to reduce what is typically your largest expense. Often ⅓ of people’s monthly budgets goes towards housing, but there are ways to reduce it! We also do a check-in and share progress toward our 2020 goals. by friends on FIRE
36 min listen
#015 | Expense Tracking Gone Wild: On this episode Mike and Maggie address their #1 requested topic so far: expense tracking! We talk about how what gets measured gets better. And then we break down the specifics of how we each approach expense tracking. Money doesn’t need to be a taboo topic, so we also encourage you to share your expense tracking through monthly reviews with a friend, partner, or spouse. After listening to our thoughts, click the link below to get your very own customer friends on FIRE expense tracker! by friends on FIRE
22 min listen
#010 | Car Insurance Is Just As Bad: If cars are the worst, then car insurance is just as bad! We follow up our cars episode with a discussion on car insurance. We share what we’re paying on car insurance and our thoughts on the true purpose of car insurance. We then dig into our top tips for deciding on how much car insurance you need, which features you do or don’t need, and more. by friends on FIRE
25 min listen
#014 | Tax Time! Yay!: On this episode we discuss taxes. Yay, taxes, buckle-up. We give a high-level overview of how tax brackets work, tips for filing your 2019 taxes, and also advice for minimizing your 2020 taxes. We encourage you to file your own taxes so you better understand your personal finances, as this is how you learn and improve. by friends on FIRE
28 min listen
#011 | Kids are the Best! Part 1: Since we said cars are the worst, we thought we’d next focus on what’s the best: our kids! People think kids are expensive, and then can be, but they don’t have to be. Mike has 2 kids, and Maggie has 3 kids, and we share our thoughts on raising them and the costs of doing so. We share some tips on the various categories of expenses related to kids, and how we believe that talking openly with your kids about money can improve your finances and theirs as they get older. by friends on FIRE
28 min listen
#009 | Cars Are The Worst: Cars are the worst! Aside from a house, cars might be the largest expenses you have. People can spend so much money on a car, but in reality, does anyone really care what you drive? If you’re driving a car because you love it and can afford it, then that’s great for you. But if you’re driving a car because you’re trying to impress someone else or “keep up with the Joneses”, then it might be time to reconsider. by friends on FIRE
34 min listen
#022 | Live like you've lost your job: In this episode we discuss how to prepare for a job loss, even if you think one isn’t coming. Things have gotten pretty serious around the world in the last few weeks and this very day 3.3M people filed for unemployment. people are predicting unemployment could be as high as 30% this year. We recommend you have or start an emergency fund, start cutting costs, and prepare for the worst. We can still hope for the best, while preparing for the worst. The good news is, you don’t need to spend much money to be happy in life. by friends on FIRE
32 min listen
#003 | Financial Independence Retire Early (FIRE) Intro: We put some structure to the show and finally define FIRE (Financial Independence Retire Early) as we see it. This is the 1st of 4 episodes digging into the FIRE movement and then outlining the 3 pillars of financial independence: spending less, growing wealth, and finding freedom. by friends on FIRE
25 min listen
#021 | Cell Phones and TV and Internet, Oh My!: In this episode we discuss cell phones, television, and internet bills. What you’re spending across these three categories can easily add up to a few thousand dollars a year, and finding savings in just one area can save you a ton. We also give a quick update on our $5k investment competition. by friends on FIRE
23 min listen
#041 | How to save money on vacation: We share tips and advice for how to save money on vacation. Summer vacations are happening now or around the corner for many, so it’s the perfect time to think ahead on how to save money and not break the bank while you’re traveling this summer. We share advice on how to save money on booking your location whether it’s a hotel or rental property, and how to save on food, activities, and buying “stuff” while on vacation. by friends on FIRE
40 min listen
#025 | College - Choosing your Approach: Mike and Maggie discuss their college experiences. College is one of the most expensive items you’ll have related to kids, and it’s a looming financial burden for many parents. We discuss if college is even worth it, how to think through the ROI of where a child goes to school, why and how to start saving for college, and tips for saving on the cost of college. by friends on FIRE
30 min listen
#019 | Coronavirus and your money: In this episode we discuss the unprecedented time we’re going through in the world right now with the coronavirus outbreak (COVID-19). We share our overall thoughts on the impact it’s having around the world and in our communities, and then we dive into what this means for your money. More specifically, we explain why this is having an impact on the stock market, what will happen next, and what we recommend doing with your money. by friends on FIRE
36 min listen
#040 | Estate Planning with Elaine Levine: We interview attorney Elaine Levine about Estate Planning. Elaine is a graduate of Harvard College and Yale Law School. Her firm, Kwartin & Levine, LLP, focuses on wills, trusts, probate, family law and elder law. Elaine walks through the key documents you need to properly estate plan: wills, revocable trusts, advanced directives for healthcare, financial power of attorney, HIPAA authorization, and beneficiary designations. She also talks us through why estate planning is important, what the process looks like, what it typically costs, and some of the considerations throughout the process. by friends on FIRE
49 min listen
#048 | Is Credit Monitoring worth it?: We discuss if credit monitoring is really worth the expense or if it’s throwing your money away. Do you really need credit monitoring? We discuss what credit monitoring actually covers and provides, how you can do a DIY version of credit monitoring by freezing your credit, and other tips and considerations. We also talk briefly about what you can do if your credit is stolen. by friends on FIRE
34 min listen
#031 | Corona Quarantine Spending Levels: In this episode, Mike and Maggie review their March and April expenses to give a view into their monthly spending levels, and more specifically how the corona pandemic quarantine has impacted them. This is a more casual conversation and episode, and we hope hearing what others are spending their money on is helpful as you consider your own spending levels. by friends on FIRE
32 min listen
#032 | Scott Vance Sheepdog Financial Interview: Mike and Maggie interview Scott Vance, host of the Sheepdog Financial podcast. Scott retired after 22 years in the Army, and now runs a financial planning and tax practice. Scott shares his own personal finance journey, and some helpful perspective on many financial considerations for those in the military. His insights and learnings are equally applicable to military and civilians. by friends on FIRE
27 min listen

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#054 | Covid, Cars, and Chit-Chat

#054 | Covid, Cars, and Chit-Chat

Description

Titles in the series (100)

More Episodes from friends on FIRE