How to Money

Americans spend WAY too much on groceries! After housing and transportation, we spend more money on food than anything else- close to 15% of our expenses. On a recent episode Matt mentioned how his family eats on $1 per person per meal, and so we figured it was time to spend an entire episode discussing how you can cut your grocery bill like crazy! If you’re not really into cooking we give some very easy and helpful tips that you can start trying out today, but we also talk about some more advanced and cost savings ways of putting meals together if you’re ready to take it to the next level.And at the beginning of this episode we enjoyed a Darkness by Surly Brewing Company which you can find and learn all about on Untappd. A huge thanks to listener Mike in Minnesota for donating this beer and supporting the show! If you enjoyed this episode, be sure to subscribe and review us in Apple Podcasts, Castbox, or wherever you get your podcasts!Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Here on How to Money, we often debate the merits of a purchase, not because we hate spending money and try to avoid doing so at all costs, but because we are constantly checking ourselves to avoid the MINDLESS spending of our money. It is a challenge to make every financial decision with the same level of intentionality but we find we are often more wasteful when we are feeling too tired or lazy to be intentional. But just being aware of some of the triggers and circumstances that lead us to spend in ways that don't align with our financial goals can help us see it and own it when it happens, and lead us to effectively change our habits for good. Being excited to spend our money mindfully on a purchase that aligns with our financial goals is a good, healthy feeling- whereas impulse spending can leave a spending hangover, often accompanied by debt. Listen as we run through several rules that help us be mindful spenders.During this episode we enjoyed a National Cherry Blossom FestivAle by Old Ox Brewery which you can find on Untappd. A big thanks to our good buddy Andrew for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Nearly half of Americans wouldn't be able to easily handle a $400 emergency! This is financial insanity. Considering the lack of any sort of margin in our lives today, it shouldn't be a surprise that Americans treat their money any differently than they treat their time. There just never seems to be enough, and any disruption (of money or time) brings a myriad of problems that must be addressed. Living paycheck to paycheck has unfortunately become the norm and it's a problem that needs to be addressed.The answer is to create an emergency fund! Having an emergency fund allows us to weather these small storms, and most importantly reduces stress. In this episode we discuss what an emergency fund is, what it is for (and not for), and how to get started on your own- including where to put that money! Listen to the entire episode to learn what steps you can take today, regardless of your financial situation.At the beginning of this episode we each cracked open and enjoyed a beer called Liliko'i Kepolo by Avery Brewing, a Belgian-style white ale which you can learn all about on Untappd. If you enjoyed this episode, be sure to subscribe and review us in Apple Podcasts, Castbox, or wherever you get your podcasts!For specific links and additional information about this episode, head over to our site: HowToMoney.com . Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

This episode is all about investment properties: what are they, how did we get started with our first rentals, and some rules of thumb that will help you when it comes to purchasing your own! After our last episode on Airbnb we knew we needed to address investment property broadly, as they’re a pillar of our future financial security. We’ll have more episodes where we’ll get more specific and discuss things like return on investment (ROI), insurance, and screening tenants. But for now, we’re just covering the basics. And at the beginning of this episode we cracked open an IPA – Scatterbrain by Bearded Iris Brewing which you can find and learn all about on Untappd.If you enjoyed this episode, be sure to subscribe and review us in iTunes, Stitcher, or wherever you get your podcasts!For specific links and additional information about this episode, head over to our site: HowToMoney.com . Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Cutting your monthly bills is a big deal - they add up! You could save hundreds of dollars a month which might even be enough to fully fund a Roth IRA. In this episode, we talk about some general strategies on how to cut your monthly bills, but then we dive into some specific bills like our cell phone, internet, cable, and the online streaming subscriptions like Netflix, Hulu, and Amazon.We also enjoyed a bottle of Boulevard's Grand Cru, which you can find and learn all about on Untappd. A special thanks to Boulevard Brewing Company for donating this amazing beer and supporting the podcast! If you enjoyed this episode, be sure to subscribe and review us in Apple Podcasts, Stitcher, or wherever you get your podcasts!For specific links and additional information about this episode, head over to our site: HowToMoney.com . Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Who doesn’t want to earn more money?! In a time where we’ve seen wage growth stagnation, workers want to make more or in some cases, they can’t seem to get out of the cycle of living from paycheck to paycheck. Side hustles are the answer! There are lots of pros and cons which we cover, but not all side hustles are created equal. In our new sharing or gig economy, oftentimes the default response to just go drive for Uber or Lyft, or even charge Bird scooters- but we argue that these are dead end ‘hustles’ and aren’t much better than punching the clock at a traditional job. Listen to the entire episode as we list some options and discuss what a better, scalable side hustle looks like.And at the beginning of this episode we enjoyed a Tears of My Enemies by Monday Night Brewing which you can find and learn all about on Untappd. A huge thanks to the guys over at MNB for donating this beer and supporting the show! If you enjoyed this episode, be sure to subscribe and review us in Apple Podcasts, Castbox, or wherever you get your podcasts!For specific links and additional information about this episode, head over to our site: HowToMoney.com . Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

We think it’s a great decision for almost everyone to invest in a Roth IRA. Second only to an employer matched 401k, a Roth IRA is very often the best retirement savings vehicle due to tax advantages and flexibility within that account. Listen as we cover some of the reasons we’re huge fans of the Roth IRA.During this episode we enjoyed a Superior BarleyLime by tripelroot - a big thanks to Heather for donating this delicious beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Buying a house will likely be the most expensive purchase you’ll ever make, so it’s no surprise that it can be an intimidating process. But this is the very same reason you should be a well informed buyer- so much money is on the line! Today we’re covering several steps everyone needs to take before purchasing to make sure that you’re getting the best deal possible on a house that you love.During this episode we enjoyed an Ink Imperial Stout by Rhinegeist Brewery which you can learn all about on Untappd. A special thanks to Natalie and all of our friends at Rhinegeist for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Nearly 80% of Americans wouldn’t be able to pay their bills if they missed a paycheck. When you’re used to living paycheck to paycheck, the idea of setting aside some extra money is almost laughable. How do you even consider setting financial goals when every dollar you make is already going somewhere necessary? In this episode we talk through how to choose to set goals regardless of your financial situation. The goal of an emergency fund for some breathing room and financial cushion is the very thing that will allow you to still pay your bills if you miss a paycheck! Even saving $1,000 can be enough to end the cycle and allow you to escape that paycheck to paycheck lifestyle.During this episode we each enjoyed a Roast Beast by Modern Methods which you can find on Untappd. A huge thanks to Krista for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Investing for your retirement is way simpler and easier than you think- and I'm going to prove it. Do these 2 things and you'll be a millionaire by the time you retire (I'm not even exaggerating one bit!):1. Open your retirement accounts:401k – If your employer offers a retirement plan like a 401k, especially with a match, start contributing immediately!!! Since a ton of employers offer a 50% match, you won't be able to find a better return on your investment anywhere. At the very least contribute up to your employer match, or you can really get after it and fully fund it at $18,500.IRA – Next thing to consider is opening an IRA (individual retirement account), specifically a ROTH IRA given the recent changes in tax law. This is not an employer offered retirement plan, so anyone can open one of these accounts. It's as easy as opening a savings account online, no joke. The only downside to the IRA is that your contributions are limited at $5,500 per year (but don't forget you can open a spousal IRA too, so $11,000 combined!). We highly recommend Vanguard.2. Start investing:Take Warren Buffett's timeless advice and only buy funds or etfs that are widely diversified and have low expense ratios (like around .05%).Joel is 100% invested in VTSAX and I'm 100% invested in VOO. Again we are both big fans of Vanguard but both Fidelity and Schwab have some good low-cost funds as well.Keep investing and don't stop. That's it!And at the beginning of this episode we cracked open a couple local brews by Ironmonger Brewing Company- Damascus IPA and Anvil DIPA which you can find and learn all about on Untappd. If you enjoyed this episode, be sure to subscribe and review us in iTunes, Stitcher, or wherever you get your podcasts!For specific links and additional information about this episode, head over to our site: HowToMoney.com . Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Are you saving your money when instead you should be investing it? Or maybe you’ve been investing, but alternatively you should be saving! Folks get confused as those terms are often used interchangeably, but they are very different. For example, we call it “saving for retirement” when we are actually “investing for retirement.” Saving and investing are both important and have their place, and so the trick is knowing when you should be doing either. During this episode, we’ll cover some of the different indicators and considerations that will help you to determine whether you should be saving or investing. And it depends on your goals, but there’s a good chance you’ll need to do both!During this episode we enjoyed a Kong Double Hazy IPA by BarrelHouse Brewing Co - a big thanks to our friend Josh for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money!Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Over the course of our lives, our habits become ingrained and the small things we do day after day shape who we become. This is especially true of our money as simple routines can be life-changing, but don’t forget the door swings both ways. While positive financial habits can lead to massive wins for us down the road, negative habits can lead to some pretty grim consequences. In this episode we discuss the ‘what’ and the ‘how’- what are some great financial behaviors to begin practicing, and how to stick with it and transform those behaviors into long lasting habits.During this episode we enjoyed a Heady Topper by the The Alchemist- a big thanks to Cameron here in Atlanta for donating this beer to the show this week! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Happy New Year! As we’re all looking ahead and setting goals let’s not forget about money- we need a money roadmap! Now is the time to decide what we’re doing with our money this year. When we know exactly what it is that we’re saving for, we have a clear mission to keep us pumped and on track. Listen as we cover the practical tips that help guide us when it comes to creating our own money roadmaps for 2019!During this episode we shared a Thicc Coffee Porter by Urban Family Brewing Company which you can find and learn all about on Untappd. A special thanks to David in Seattle for sending this one to us! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Liz Thames, better known as Mrs. Frugalwoods, is the creator of the award-winning personal finance blog, Frugalwoods.com and she’s the author of the book, Meet The Frugalwoods: Achieving Financial Independence Through Simple Living. At age 32, she reached financial independence and left a successful career in Boston to create a more meaningful, purpose-driven life on a 66-acre homestead in the woods of Vermont with her husband and their two young daughters. Liz has been featured on The Today Show, PBS, NPR, in the New York Times and more. We’re excited to hear about the frugal steps she took in order to achieve financial independence, the side benefits of frugality, as well as what her life looks like there on the homestead.During this episode we enjoyed a Boss Tweed by Old Nation Brewing- which you can find and learn all about on Untappd! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

It’s probably going to be hard, but waking up earlier this year can help you to get your personal finances in order! We’re excited to talk with our friend 5am Joel about how he got started waking up early and how this has impacted him personally. We both met Joel at a personal finance conference and immediately bonded over a mutual love of craft beer as well as talking about nerdy money things like investing in real estate and financial independence. He’s been waking up early for years now and we’re curious to hear how he does it so that we can begin implementing some of his tips into our daily routine as well.During this episode we enjoyed a Black House by Modern Times Beer- another big thanks to our friend Craig there at the brewery for donating this one! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money!Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Our guest on this episode is personal finance writer J.D. Roth who started his blog, Get Rich Slowly in the early days of the internet- back in 2006! It’s grown to be one of the most well-respected personal finance sites around thanks to his honesty, superb writing, and desire to serve his readers. We hear all about J.D.’s history with money, whether politics belong in personal finance, the different stages of financial freedom, as well as the intersection of depression and money. And let’s not forget- we snuck in some conversation about Taylor Swift and J.D.’s lifelong devotion to his hometown soccer team!During this episode we enjoyed a Gold by St. Archer Brewing Co- thanks to our friends at St. Archer for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money!Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

The new tax law nearly doubles the standard deduction which means even fewer folks will be itemizing deductions on their tax returns this year- however, there is still an important way to massively cut our tax bills! Regardless of whether we take the standard deduction or if we itemize deductions- we can still reduce our tax bill by ‘above the line deductions’. These are technically not actual deductions but adjustments to arrive at our adjusted gross income which we typically want as low as possible in order to pay fewer taxes! Listen as we cover some of the best ways to cut our tax bills and why you’ll likely want to do the same.During this episode we enjoyed a Karate in the Garage by Southern Swells which you can find and learn all about on Untappd. A massive thanks to Kate from Southern Swells for sending us a bunch of their beers- we’re big fans of what they’re doing down at Jax beach! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

If you feel overwhelmed at the thought of investing in the stock market, especially amid these turbulent times, then look no further. We are fortunate enough to be speaking with the one and only JL Collins. JL is an expert in the arena of investing and is the author of the book “The Simple Path to Wealth”. In his book and on his site, JL writes about how truly straightforward and simple it is to invest your money in order to achieve financial independence. Not surprisingly, he’s also considered by many to be the godfather of the financial independence movement. We’re pumped to discuss all things related to investing in the market as well as topics like buying a new car and raising financially savvy kids.During this episode we enjoyed a Bourbon County Stout by Goose Island - a big thanks to Alex for donating this beer to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money!Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

How amazing is it that we live in a world where there are so many ‘free’ things all around us? And how unfortunate is it, that we don’t even see these ‘free’ resources because we’re so used to purchasing and consumption- we don’t even think to make use of them. Our technology and culture steers us in the direction to spend. Chances are there are times when we're not taking advantage of this ‘free’ stuff and we're overspending because maybe we haven’t thought about it recently or there are some things you’re not even aware of yet. Putting these resources to use will make us smarter, save us money, and will overall lead to a healthier and more balanced life.During this episode we shared a Sticky Hands IPA by Block 15 Brewing Company which you can find and learn all about on Untappd. A special thanks to Dale in Portland for bringing down this IPA for us to have on the show (even after our Atlanta United gave his team a walloping at the MLS Cup)! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.

Every month we waste a lot of money on utility bills that could be back in our pockets if we would only be more intentional about making our homes more energy efficient. Not only could we save more money now, but there is massive potential for what that money could grow into if we invested it every month - don’t forget the rule of 173! Regardless of whether you’re renting an apartment or living in your own house, listen as we discuss lots of different ways that you can cut your water, gas, and electric bills. Recurring monthly expenses have a huge impact on your ability to save for the future!During this episode we enjoyed a Challenge Series 11 by Bear Republic Brewing which you can find on Untappd. A big thanks to our friends at Bear Republic for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.Best friends out! Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener for privacy information.