Inside Out Money

Think ancient philosophy has nothing to do with your bank account? Think again! This episode brings a powerful dose of Stoic wisdom to your modern financial world. Joined by special guest co-host Kathleen from the Minimalish Mom podcast, we're uncovering how the timeless principles of Stoicism, like focusing on what you can control and accepting what you can't, can transform your money mindset and lead to genuine financial peace. Prepare to learn how a philosophy often misunderstood as emotionless is actually your secret weapon for navigating market volatility, managing debt, and finding true wealth beyond the numbers.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/115-mind-over-money-how-stoicism-can-transform-your-finances-with-kathleen-from-minimalish-mom/

Ever felt like you're climbing someone else's ladder, or that your financial decisions are driven by what everyone else is doing? This episode introduces the powerful concept of "Inside Out" living, a philosophy that inspired the very name of this podcast. We'll explore why shedding societal expectations and reconnecting with your true desires is the ultimate path to financial freedom and genuine contentment. Get ready to challenge the "Keeping Up with the Joneses" mentality and discover how aligning your money with your deepest values can dramatically improve your financial well-being and bring a profound sense of peace.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/114-the-inside-out-approach-to-financial-freedom/

Ready to finally take control of your finances? We dive into the common roadblocks that hold us back from reaching our financial goals. Discover why your mindset might be your biggest obstacle, the power of knowing your numbers, and how to navigate the crucial relationship dynamics that impact your money. It's time to stop making excuses and start making progress – we'll show you how.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/113-the-real-reasons-youre-not-improving-your-finances-and-how-to-fix-them/

You've diligently saved and invested, and now comes the pivotal question: How do you live off those funds, especially in early retirement? We discuss the various withdrawal strategies, going beyond the basic 4% rule to explore dynamic and flexible approaches. Learn how to consider tax implications, access retirement accounts early without penalties, and build a resilient plan based on your specific situation and goals. Whether in the accumulation or spending phase, this will help you learn practical steps to create a thoughtful plan.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/112-withdrawal-strategies-in-early-retirement-a-flexible-strategy-and-account-playbook-to-fund-your-retirement/

Whether it's a lottery win, an inheritance, or a work bonus, a windfall can feel like a dream come true, but mishandling it can quickly turn it into a financial nightmare. We dive into the crucial first steps you need to take, understanding the tax implications, setting meaningful financial goals, and creating a solid plan to protect and grow your newfound fortune. And learn about the common pitfalls that can derail even the best intentions. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/111-how-to-handle-a-windfall-protect-your-future-fortune/

Raising kids is tough, but raising financially responsible and aware kids is quite simple, and you can do it! This week, I am joined by a special teenager co-host, my 16-year-old step-daughter Maddie, as we discuss how and when to set financial expectations with kids. From limiting the volume of toys to comparison shopping to the realities of car insurance and college, we're sharing real-life strategies and experiences to prove it's never too early (or too late) to raise financially savvy kids. Get ready for practical tips and a teenager's perspective on growing up with open conversations about money.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/110-raising-financially-responsible-kids-setting-financial-expectations-at-every-age-with-a-special-teenage-co-host/

Buckle up for some exciting news from co-host Andrew! Andrew shares what is next for him after 25 years in Corporate America, and it might not be what you think! Andrew shares the journey that led him to this pivotal moment, from early FIRE aspirations to pandemic-fueled perspective shifts to navigating his next chapter. Andrew explores intriguing paths ahead and what's on his mind as he figures out his next adventure.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/109-andrews-big-news-whats-next-and-why-its-not-early-retirement/

It takes time to improve your finances, and you're not alone if you feel like there's never enough. We're diving into the reality of time constraints, with actionable strategies for the busy and overwhelmed. Discover how to use Parkinson's Law for good, the high cost of inaction, why you should focus on the important vs. the urgent, the importance of mindset, and much more. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/108-reclaim-your-time-and-money-actionable-strategies-for-the-overwhelmed/

When I grew up, finding financial opinions and advice felt hard. Now we're saturated with it, but is that a good thing!? We discuss the murky waters of social media financial influencers, aka finfluencers, and explore the good, the bad, and the downright misleading. We unpack what it means to be a finance enthusiast versus an influencer, question the lack of regulation, and equip listeners with a critical lens to discern credible guidance from online noise.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/107-finfluencers-yuck-wait-is-that-what-we-are/

The concept of FIRE isn't one-size-fits-all, so we dive into the various types of FIRE that have been popularized. The ability to name your type of FIRE can help you find the right community and ongoing motivation for your financial goals. We share the math of the ultra-frugal Lean FIRE to the luxurious Fat FIRE and all the flavors in between. Aligning your financial goals with a lifestyle that resonates with you can make the path to financial independence more attainable and enjoyable. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/106-find-your-fire-lean-fi-fat-fi-coast-fi-barista-fi-and-more-which-fire-is-right-for-you/

Companies are using manipulative marketing tactics to keep us buying more and more. The endless consumption is becoming exhausting on our minds and our wallets, all while the economy feels increasingly unstable, so let's take back control! This episode dives into why we keep buying more stuff we don't need and the environmental impact of those actions. We wrap it up with a much-needed pep talk to break the cycle and stop buying stupid sh*t, so you can reclaim your financial power and find true happiness in experiences and connections. Remember, in a world that often feels out of control, discretionary spending is the one thing you can control.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/105-why-we-keep-buying-stuff-we-dont-need-and-how-to-do-better/

We heard ASMR is all the rage, so we're excited to introduce you to Wealth Whispers. Enjoy the soothing voices of Maggie and Liz walking you through a financial checklist to get you on the right financial path, with ASMR to heighten the journey. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/104-wealth-whispers-asmr-your-way-thru-this-financial-checklist/

Borrowing and lending items with friends and family can be stressful, but we're here to help you navigate it logically, without any drama, but maybe with a few laughs. We dive into the delicate balance of borrowing and lending everything from cars, clothes, money, mascara, and more. We explore the role of trust, open communication, the importance of setting boundaries, and how to gracefully decline a request without making it too awkward or adding stress to your relationships. We also somehow get into a discussion about pets and can't stop laughing. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/103-borrowing-boundaries-financial-etiquette-for-borrowing-stuff-from-money-to-mascara/

Stock market volatility, job security concerns, high inflation, and tariffs dominate headlines, leaving us all uncertain. We break down key economic indicators, from GDP to consumer confidence to interest rates. More importantly, we share how this matters for your everyday life and financial future. We hope this episode creates a sense of calm amidst many trying to sensationalize the current environment and allows you to distinguish the noise from what matters. Let this remind you to stay calm, control what you can control, and maintain a long-term perspective on investing.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/102-beyond-the-headlines-making-sense-of-inflation-tariffs-and-your-investment-strategy/

After we explain what the heck “hurkle durkle” means, we share specific and actionable tactics for improving your finances while your hurkle durkle. Relaxing is essential and we all have our preferred ways of doing it, but it's also important to remember that small manageable steps will improve your finances over the long-term. We share simple things you can do from the comfort of your bed to improve your finances. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/101-8-things-to-do-to-improve-your-finances-while-you-hurkle-durkle/

All the co-hosts join as we celebrate the 100th Inside Out Money podcast episode. We have lots of news to share, from who just got laid off to what's happened with all of us over the last 100 episodes. We share milestones, lessons learned, appreciation for our listeners, and more! Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/100-never-felt-so-good-except-for-when-you-get-laid-off-and-other-news-but-still-yay/

Navigating tricky money situations with friends, family, and coworkers can be awkward. We dive into financial etiquette, covering everything from splitting dinner bills fairly to handling gift-giving with co-workers to kid-related expenses. Learn to set expectations upfront, communicate openly about money, and respect differing financial situations. Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/099-well-this-is-awkward-financial-etiquette-for-sticky-situations/

Did you know free AI tools can help you save money, earn money, and become more efficient in your day-to-day life? AI has some interesting capabilities for improving your finances and the efficiency and effectiveness of your everyday life. We share some of our favorite AI tools and how we use them safely. We also share ideas and prompt examples for how you can use AI to improve your life, from vacation planning to meal planning to prepping for a job interview to helping your kids with their homework. We also discuss the ethical and legal considerations when using AI.  Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/098-how-to-use-ai-to-improve-your-finances-and-life/

They say nothing in life is free, but that's not entirely true, as there are many free apps, educational resources, software, books, podcasts, and more! We share our favorite free things and why we enjoy them so much. Then, we go through many more examples of things you can get for free. We also explain the various funding models of some of these free products so you know what you may be giving up to get something for free.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/098-our-favorite-free-stuff-thats-not-a-scam/

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In a discussion about all things tax-related, we break down federal and state taxes and explain how tax brackets and income taxation work. We talk about the legal ways you can minimize your tax liability and share some of the ways you can reduce your taxable income. We also discuss the pros and cons of DIY tax filing versus hiring a professional.Get the full show notes, show references, and more information here:https://www.insideoutmoney.org/096-tax-time-tips-pay-less-save-more/

We delve into the dark web, explaining what it is and why it should matter to you. Most importantly, we share what you can do proactively and at no cost to protect your identity and credit. You'll learn what's worth your time doing and what to avoid, reducing your risk of falling victim to scams and identity theft.   Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/095-wtf-is-the-dark-web-and-how-do-i-protect-my-identity-and-credit/

We'll help you navigate the maze of financial advice by highlighting which tips you should ignore, why, and what you should do instead. We discuss good and bad debt, strategic use of credit cards, renting versus owning, talking about money, investing early and often, financial planners, and much more. In this episode, we clear up common misconceptions and provide practical tips and strategies. Get the full show notes, show references, and more information here: 

Social media companies spend millions to convince us to buy stuff, much of it things we don't need. This week, I am joined by a special teenager co-host, my 13-year-old daughter Kate, as we discuss the influence that social media has on our consumption habits. We also offer tactical tips for combatting social media ads and a broader discussion on what motivates kids to save and spend money. Kate joins this week's podcast as we talk about: - The prolific rise of social media ad spending - Tactics social media companies are using to influence kids and adults - Tactics kids and adults can use to combat social media ads - Unique approaches to reduce the number of ads your kids see - What influences kids to spend and save money Get the full show notes, show references, and more information here:

In this special annual episode, join all the co-hosts as we reveal our 2024 spending habits in our detailed expense breakdown. From the biggest splurges to unexpected savings, we dive deep into each co-host's spending for the year and share what we're feeling good about and want to improve upon this year. Liz, Andrew, Erica, and Greg join this week's podcast as we talk about our: - What we each spent in 2024 - Top spend categories and what went into the higher spend categories - Top spend by vendor - What we're feeling good about and what we want to improve upon in 2025

We kick off this new year with a discussion on how to improve your financial wellness so you're thriving versus surviving. We discuss actionable steps to improve your financial wellness and how to leverage James Clear's Atomic Habits four laws of behavior change to build stronger habits.  Greg joins this week's podcast as we talk about: - January is financial wellness month - The psychological power of a new year on making changes - James Clear's four laws of behavior change from his book Atomic Habits  - Taking control and agency over your finances - How to survive vs. thrive financially - The importance of setting goals and making a specific plan - A high-level “order of operations” of what to focus on financially - A few of our 2025 financial goals Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/091-how-to-build-awesome-habits-and-improve-your-financial-wellness/

All of the co-hosts join this end-of-year episode, and we share our peaks and pits, favorite purchases, financial regrets, wins, and our intentions for 2025. Join us for our end-of-the-year podcast party!  Liz, Andrew, Erica, and Greg join this week's podcast as we talk about our: - Peak and pits of the year - Some of our favorite podcast reviews - Favorite books and podcasts of the year - Favorite purchases of the year - Worst purchased and/or financial regrets this year - Financial wins this year - Financial goals and intentions for 2025 Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/090-end-of-year-podcast-party-with-all-the-co-hosts/

We debate whether gift cards are the best gift ever or an ongoing burden to the receiver. We also recommend creative and simple ways to make gift card gifting more personal and ensure you keep up with and use any gift cards you have received. Liz joins this week's podcast as we talk about: - Whether or not people like receiving gift cards  - The pros and cons of gifting and receiving gift cards - Simple and creative ways to make gift card giving more personal - Ideas for keeping up with all of your gift cards and making sure you use them - What you can do with gift cards you don't want or plan on using Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/089-the-gift-card-debate-safe-choice-or-worst-gift-ever/

This week, Greg and I answer your money questions about relationships, difficult financial conversations, how we track our money, how we're trying to raise our kids to spend intentionally, financial independence feeling unattainable at lower salaries and more! In this week's podcast, we talk about: - Our number one purchase this year - How we approach using high-yield savings accounts and local banks like Bank of America - How financial independence can be unattainable at lower salaries and what to do about it - How we approach spending during the holidays with our kids - What we're doing to raise our kids to be more intentional with money - Whether we're considering any employment after our kids go to college - Pickleball - How we track our money, down to the specific Google sheet - Our drawdown strategy in early retirement - If our stress level has changed after retirement - Our approach with joint vs. individual accounts - Communal living versus traditional living - End-of-year tax optimization Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/088-listener-qa-with-greg-managing-difficult-financial-convos-fi-feels-unattainable-raising-kids-to-spend-intentionally-stress-levels-post-retirement-and-more/

We review two listener case studies, share their financial situations and backgrounds, and answer their questions about how to move forward with their finances.  Andrew joins this week's podcast as we talk about: - If you should renew a term life insurance policy in your 70s - The importance of accessing your 401K and other retirement accounts and understating what you're invested in - Whether or not you should pay for your house - What to do if you feel behind on your finances - Running a retirement calculator to see when you could potentially retire - Investing in a HYSA vs. stocks when you're in your 70s - What to do if you're too cash-heavy - How to get started with a 529 plan - The tradeoff of buying a larger home or retiring earlier - High-yield savings accounts, maxing out your 401Ks, and more!  Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/087-case-studies-where-to-focus-when-youre-feeling-investing-life-insurance-and-paying-off-your-mortgage-in-your-70s/

Here are all the financial moves you should aim to finish before the end of the year to ensure you finish the year strong and set yourself up for success next year. We cover the basics you've already thought of but might not have done yet and some new ideas you may not have thought of.  Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/086-end-of-year-money-moves-to-finish-the-year-strong/

Psychology plays a significant role in our financial decisions, and we can use it to our advantage to trick ourselves into spending less money and saving more. We share many tips and tricks for spending less and being more intentional.  Liz joins this week's podcast as we talk about: - The role psychology plays in influencing our spending decisions - How retailers are aggressively using psychology to influence us to buy more - Tactical ways to trick yourself into spending less money - The value of tracking your spending - Envelope systems and Qube Money - The value in putting a barrier between an impulse and a decision - The value in tying our spending decisions to something else - How to leverage thought patterns to change our spending habits Get the full show notes, show references, and more information here:  https://www.insideoutmoney.org/085-trick-yourself-into-spending-less-money/

In case you missed it, Trump won the 2024 election. We're talking about the impact of Trump in office on your personal finances and how to prepare yourself. 

Some people are so focused and disciplined on reaching a FI or FIRE goal that they don't enjoy the present. Others are so focused on living for today that they don't plan or save for the future. Which is better? We discuss the extremes of both and how to appreciate the need for both and strive for balance.   Erica joins this week's podcast as we talk about: - The pros and cons of living for today vs. saving for tomorrow - The magic middle and balance between the two - Extreme budgeting, deprivation, and reckless spending as extremes - Tactical tips for finding your balance - A challenge to reflect on your balance and how you're enjoying today vs. preparing for tomorrow Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/083-live-for-today-or-save-for-tomorrow/

We review two listener case studies, share their specific financial situation and background, and answer their questions about how to move forward with their finances.  Andrew joins this week's podcast as we talk about: - How to know when you have enough to retire - If investing in all index funds is too risky - How to estimate and plan for unexpected expenses  - How to get started when you're stuck and overwhelmed  - What to do when you hit set backs in the getting started process - Where to go for good information when you have questions Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/082-case-studies-how-to-get-started-when-youre-stuck-burnt-out-and-how-do-i-know-when-i-have-enough-to-retire/

This week, I'm answering your questions about 401Ks, Roth vs. regular 401Ks, how and where to save for future needs, where to park your money, early retirement, managing a budget, and more! In this week's podcast, I talk about: - Maxing out 401K versus investing in the market - Life insurance and whether work benefits are enough - How you access your money for early retirement - Ways to progressively increase your savings rate - 401Ks vs. roth401Ks - What is worth sacrificing to get to FIRE - Biggest items on my early retirement FIRE bucket list - How and where to save for a new vehicle  - Favorite meals and beers - FI in Europe vs the United States and which is easier or harder - Where to park large sums of money while you save for future goals - How seniors can budget and keep up with inflation - Managing being over budget with post-retirement - If HSAs are worth it if you have chronic health expenses - My number one decluttering tip - Inside Out Money meetups - How to budget for retirement if you're a stay-at-home parent - How we decide where to go on vacation Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/081-listener-qa-401k-vs-roth-401k-budgeting-automation-decluttering-early-retirement-and-more/

We discuss everything you ever needed and wanted to know about life insurance. We share why life insurance is important even if you think you don't need it, how much you need, how to shop around for it, the process of applying for it, and much more. We even share some next-level tips for getting the best rates. Liz joins this week's podcast as we talk about: - Why life insurance is important - Why your job's life insurance isn't enough - The types of life insurance and which type you need - How much life insurance do people need, and how do you decide how much you need - How long of a policy you need - How to choose a plan and shop for it - Tips for getting the best rates - The laddering concept and how it could save you money - Rewriting the lyrics to Jump Around for life insurance (you're welcome!) Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/080-were-all-going-to-die-so-lets-talk-about-life-insurance/

We explore the concept of the American Dream and how it has evolved over time. What we initially considered success in life isn't quite how we would define success today. Many people now choose to live beneath their means, save more, spend less, and sometimes even retire early. We share personal stories, practical tips, and insights to help you define your own American dream.  Greg joins this week's podcast as we talk about: - What we thought the American Dream was, and we each had different POVs - A brief history of the American Dream - What the “American Dream” will cost us throughout our lifetime - How our view of success has evolved over the decades and years - Cultural influences that are impacting how we define the American Dream - Are financial independence and freedom part of the American Dream? - Practical tips to help you define your own American Dream Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/079-the-new-american-dream-is-it-misunderstood-or-evolving/

The holidays have evolved into a time of the year overly focused on consumerism and spending money, but we encourage you all to take back the holidays and focus on what matters the most to you! We encourage you to reconsider how you're spending the holidays and share tactical ideas to spend less on decor and gifts going into the holiday season.   In this week's podcast, we talk about: - How to spend less going into the holidays - How to take back the holidays to focus on what matters to you - DIY ideas for holiday gifts and decor - Alternative gift ideas - Experiences versus things - Upcycling and regifting and if it's okay - Setting a budget and guardrails around holiday spending - Simplifying your decor to save money - The importance of making lists and avoiding impulse shopping - Coupons and cash-back or reward sites Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/078-take-back-the-holidays-8-ways-to-spend-less-this-holiday-season/

This week, I'm answering your questions about debt, emergency savings, sudden windfalls, deferred compensation, withdrawal strategies, Andrew going vegan, monarch money, savings on kid's stuff, when to track your net worth estate planning, and more! In this week's podcast, we talk about: - How to stay motivated while getting out of debt - How to handle an unexpected large sum of money - Influencer courses and if they're worth your money and time - Finances in a blended family that is early retired - Advice for Canadians that don't have the same levers as in the US - How to determine your withdrawal strategy at retirement age - If there is anything that keeps me up at night about being early retired - Tips and tricks for using Monarch Money - Spending and savings on kid's clothing and activities - Explaining deferred compensation to a 5th grader - What day I track my net worth, and why - Replenishing your emergency fund after using it for an emergency - Tips, tricks, and advice for rental properties - Estate planning and wills for people who are young and think they don't need it - Making sure you're not passing on a money mess to your beneficiaries - How many credit cards is too many?  I have seven and pay off fully monthly - What actionable steps I took to become financially free Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/077-listener-qa-debt-savings-windfalls-deferred-compensation-withdrawal-strategies-and-more/

Investing often seems more complicated than needed, so we're explaining some key terms to help you better navigate the investing and financial world more confidently. We share which ones we think matter the most and what you should focus on as an investor.  Andrew joins this week's podcast as we talk about: - The difference between a stock and a bond and the historical performance of each - The difference between ETFs, index funds, and mutual funds - Market vs. limit orders and which one you should focus on - Why target date funds in your 401K and 529 plans aren't ideal and what to do instead - Which brokerage firms and accounts we like the best and why - Expense ratios, Dividends, Dollar-cost averaging, and more! Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/076-investing-terms-you-should-know-etfs-vs-mutual-funds-target-date-funds-expense-ratios-dividends-market-vs-limit-orders-and-more/

In the tradeoff between your time and your money, we discuss whether it's worth it to pay for convenience, from pre-cut food at the grocery store to having your house professionally cleaned to food delivery apps. We explore whether these conveniences are worth the extra expense, and we explore the pros and cons, share personal stories, and offer tips for finding a balance between convenience and cost. Liz joins this week's podcast as we talk about: - The tradeoff of our time versus our money - How to be thoughtful and intentional about the conveniences we pay for - The questions you should ask yourself as you consider how much you're willing to pay for specific conveniences  - Smash or pass round of all the many potential conveniences we could pay for Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/075-the-cost-of-convenience-is-it-worth-it/

Investing feels overwhelming and complicated to many people, but it doesn't need to be. It can be simple and easy to get started. Join us for a discussion on investing that we hope will help you get started and feel better on your investing journey. Erica joins this week's podcast as we talk about: - Why investing is more simple than many make it out to be - Why investing in low-cost, simple index funds is the answer - If ESGs are worth it - What to do when the market is down - Good books to read to help you learn more about investing Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/074-an-investing-discussion-how-to-get-started-are-esgs-worth-it-what-to-do-when-the-markets-down-automating-your-investments-and-more/

Groceries have been getting more expensive lately, but there are still plenty of simple, low-effort ways to save money on groceries. We share our best money-saving hacks for our family of five. Greg joins this week's podcast as we talk about: - What we typically spend on groceries - Why we do most of our shopping at Aldi, Lidl, and Sam's Club - How we keep our food costs lower and the specific things we do Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/073-grocery-savings-hacks-where-to-shop-freezing-food-and-more/

Everyone should keep their savings, emergency funds, and extra cash in a high-yield savings account (HYSA) to optimize their money. High-yield savings accounts are paying as high as 5.5% interest and have been for over a year. Make sure you're taking advantage of this and maximizing your growth potential! Liz joins this week's podcast as we talk about: - What is a high-yield savings account and why you should have one - Why high-yield savings accounts are a safe place to keep your money - FDIC Insurance  - How banks make money - Why online or digital banks can afford to pay higher interest rates - Our favorite high-yield savings accounts Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/072-the-best-financial-advice-no-one-wants-to-take-move-your-money-to-a-high-yield-savings-account-already/

This week, I'm answering your questions about early retirement, investing, raising financially literate kids, making like-minded friends, and more!   In this week's podcast, we talk about: - Sitting in the boring middle of achieving FI - Enjoying the journey versus the destination - How do you know when you have enough money to retire - How to make FI friends - Best FI meetup groups and conferences - Investment strategies - Thoughts on CFPs (Certified Financial Planners) - Bringing up finances with someone not good at finances - How you talk to the kids about money  - Navigating spend on and for teens Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/071-listener-qa-boring-middles-making-fi-friends-investment-strategies-kids-and-more/

This one thing can save you money, help the environment, declutter your house, and improve your mental health; it's using the things you already have! We share practical tips and strategies for reframing your mind to focus on everything you already own inside your home before you allow yourself to acquire new things.  Erica joins this week's podcast as we talk about: - The many benefits of using what we already have before we buy new things - Mindful approaches to consumption - Practical tips and strategies for using up what we already have before we buy anything new - Categories we're focused on, including food, toiletries, cleaning supplies, books, gift cards, memberships, office and school supplies, and clothing - What to do if you're not willing to use the things you already own  Get the full show notes, show references, and more information here: ⁠https://www.insideoutmoney.org/070-lets-use-up-what-we-already-have/⁠

This one thing can save you money, help the environment, declutter your house, and improve your mental health; it's using the things you already have! We share practical tips and strategies for reframing your mind to focus on everything you already own inside your home before you allow yourself to acquire new things.  Erica joins this week's podcast as we talk about: - The many benefits of using what we already have before we buy new things - Mindful approaches to consumption - Practical tips and strategies for using up what we already have before we buy anything new - Categories we're focused on, including food, toiletries, cleaning supplies, books, gift cards, memberships, office and school supplies, and clothing - What to do if you're not willing to use the things you already own  Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/070-lets-use-up-what-we-already-have/

The key to growing long-term wealth is to spend less than you make and invest the difference, but there are also some money mistakes you should avoid. Make sure you listen and avoid these money mishaps to win long-term. Liz joins this week's podcast as we talk about: - Why whole life insurance is so bad - The pros and cons of 401k loans - Buying stuff you can't afford and don't need on credit cards - Get rich quick schemes - Trying to time the market - The importance of tracking your expenses and net worth - Lifestyle creep and why it matters - Why emergency funds matter Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/069-avoid-these-money-mishaps-and-win-long-term/

People often say you'll spend less in retirement, but who are these people, and is this true? We break down some common beliefs about retirement spending and share our own personal experiences of being retired early for two years.  Greg joins this week's podcast as we talk about: - The retirement smile - How much we've spent over the last five years - People say retired life costs less - Is this true? - Where we're spending more: Before retirement? Or since early retirement? - How our life stage and family dynamics are impacting our spend - How healthcare cost is impacting our spend - Making the psychological shift from saving to spending Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/068-is-life-more-expensive-in-early-retirement/

Understanding the CAPE (Cyclically Adjusted Price-to-Earnings) ratio and SORR (Sequence of Returns Risk) matters if you're investing in the stock market and making future plans based on those investments. These metrics provide a stable benchmark for valuation and can help identify market bubbles or periods of undervaluation; they're important to understand and can help inform your future plans.   Andrew joins this week's podcast as we talk about: - What CAPE ratio and SORR stand for and how to calculate them - How CAPE ratio is different from the standard P/E ratio - The methodology behind the CAPE ratio calculation and SORR - Why you'd want to understand these metrics - How these metrics might influence your early retirement plans and timing - Strategies to mitigate SORR Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/067-two-investment-metrics-you-should-understand-cape-ratio-and-sorr/