Rich and Marcus recorded this weeks episode at #Fincon19, with their friends Julien and Kiersten of Rich & Regular. Fincon is a yearly conference aimed at helping financial influencers and brands create better content, reach their audience, and make more money. Julien and Kiersten are part of the FIRE movement (Financial Independence / Retire Early) and on today’s episode, they discuss bridging money gaps with your partner, being obsessed with saving and setting unique financial goals based on the desired lifestyle you want. They prove with the right mindset, focus, and budget you can strive to FIRE also. Yes, even with kids.
- The problem with using a credit card with no intention of paying off the purchase
- Super Saving – when 50 percent of your income is saved and invested
- Investing in taxable accounts that you can access before your 60’s
- Sticking to financial goals with the added expense of having children
- There’s no financial plan for the “average individual” because everyone’s life is different
- Focusing on increasing income vs. focusing on cutting down on expenses
Key Takeaway: There is no one way to start saving and investing. You need to come up with a plan that fits your income, your goals, and your lifestyle.
Mentioned on This Week’s Show
- The New York Times: For These Women, a FIRE That Burns Too Male and Too White
- Rich & Regular
This Week’s Sponsor
- Babel – the language learning app that will get you speaking a new language with confidence. You can try Babbel for free. Go to Babbel.com or download the app and try it for free!
- University of California Irvine – If you are trying to start a new career, advance your career or better develop an appreciation of the world around you, UCI Division of Continuing Education has the resources needed to support your undertakings. There are certificate programs and specialized studies programs available making it easy to advance your career in as little as 6 months. For 15-percent off, visit ce.uci.edu/PaychecksBalances
Our Favorite Tools This Week
Available exclusively to our email subscribers, see why 15-minutes can change the next 15 years with our free 15 Minute Paychecks & Balances Money Plan: Your Guide to Financial Freedom.
Raise Your Credit Score!
- D.E.B.T. Free: A 4-Week Starter Kit – Get Paychecks & Balances, LLC. signature course today! Based on our popular book, Debt Free or Die Trying: How I Buried Myself in $30,000 in Debt and Dug My Way Out, this actionable 4-step program helps you create a debt free plan you’ll actually follow.
- SoFi – offers a full range of financial services, from personal loans to refinancing to investing. Marcus has used SoFi twice and has nothing but good things to say about their easy to use services. Use our referral link and get $100 when your loan is funded.
Break the Paycheck-to-Paycheck Cycle
- Digit – Struggling to save money? Sign-up for Digit at paybal.co/digit to automate your way to saving hundreds or more! Digit analyzes your spending and automatically saves the perfect amount every day. Read why Rich loves Digit and how much it’s already saved him.
- Tiller – The only spreadsheet templates powered by an automatic feed of your finances directly into Google Sheets and Excel. Easily budget, track expenses. Get started here!
- Freshly – Behind only housing (33%) and transportation (16%), food-related expenses (13%) is the largest expense category for the average household. Freshly delivers chef cooked, healthy, wallet-friendly meals that fit any budget. Use our referral link to take 2-weeks off from cooking with $20 off your first two orders.
Side Hustles and Passive Income
- How to Start a Blog – Michelle Schroeder-Gardner is the self-made millionaire behind MakingSenseOfCents.com who credits finding her purpose and sharing her story through blog writing for her personal and financial success. With her easy-to-follow course, you can be up and running a blog in less than a day!
- Making Sense of Affiliate Marketing – Over 50-percent of Michelle’s How I Made Over $1,500,000 In 2018 revenue comes directly from successful affiliate marketing.
- Making Sense of Sponsored Posts – You can also quickly learn how she made her first blogging income, and how she now makes $10,000 – $20,000 a month with sponsored partnerships.
- Want personal finance, work and money presentations tailored to your next seminar or conference? Request us here!
- Learn more about Marcus Garrett’s book, the Debt Free or Die Trying series.
- LIKE us on Facebook.com/PaychecksandBalances or FOLLOW us on Twitter @PayBalances and Instagram!
Get Our Newsletter!
Join our free email community to get our newsletter with actionable tips and interesting reads to help you navigate your finances and career.