How to Money

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What Makes a Good Rental Property #027 Jul 11, 2018

Show notes

Not all rental properties are created equally- and we’re not just talking about how well they’re built! There are a number of factors to keep in mind when you’re considering purchasing different properties as potential rentals. In this episode we talk about finding a good deal on a property and then we cover our favorite criteria that we like to use to filter out those good deals. We also spend some time talking about the 1% rule and if we feel it’s even still relevant in a hot housing market!

At the beginning of this episode we both enjoyed a beer by Borg Brugghús called Garún Nr. 19, which is an Icelandic Stout. This beer was donated by listeners, so a special thanks to our friends Michelle and Jenn for supporting us! 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!

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The 4th of July! #026 Jul 04, 2018

Show notes

For specific links and additional information about this episode, head over to our site: HowToMoney.com . Best friends out!

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Listener Question: Saving for My Kid's College #025 Jun 27, 2018

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This is our first ever listener question that we've addressed on the show - from Mark: “I was wondering about your thoughts on saving for a child’s education. My wife and I both work at colleges (she’s a professor, I’m a counselor) and we’re actually not sure what college will look like in 15 years and what the value proposition will be. Also will our kid(s) even want to go to college? We haven’t made decisions on a 529 or other account but starting to have the discussion. Thanks, fellas!” Mark is asking all the right questions and this was a great excuse for us to cover an important topic.

In this episode we cover some of the pros/cons of 529 plans, discuss how you should prioritize saving for your kid's college in relation to saving for your own retirement, cover some alternative views on college, and then we share whether or not we're planning to save for our own kid's college.

At the beginning of this episode we popped open and enjoyed a Champs de Fraises by Firestone Walker, a barrel aged wild ale fermented with strawberries, which you can learn all about on Untappd. A special thanks to our friend Josh for donating this beer and supporting the podcast! 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!

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How to Give Away Your Money #024 Jun 20, 2018

Show notes

You’ve worked hard for your money, so you should be able to keep every, single, penny. Right?! Well, aside from taxes, you have every legal right to keep your money- however, we’re here to tell you that you would be better off giving a portion of your money away. Whether that means a simple year-end charitable donation or taking the steps to set up a donor advised fund, there is room in your budget to be a giver. And even if you’re not able or willing to set aside a percentage of your income towards giving, you could start with giving away some of your time. Be a volunteer! In this episode we cover the important topics of why you should always be giving money away, some benefits of giving, and then we discuss some practical steps on how you can more effectively start donating your time and money, now!

At the beginning of this episode we popped open and enjoyed a beer called Consecration by Russian River Brewing Company, a barrel aged sour ale which you can learn all about on Untappd. A special thanks to our friend Mr. 1500 for donating this beer and supporting the podcast! 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!

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Couples and Money ft. Our Wives #023 Jun 13, 2018

Show notes

Talking about money with your partner can be extremely hard! We’ve all heard funny stories and countless anecdotes of money fights within relationships, but the fact remains that these disagreements often end in broken relationships. This week we have an honest and revealing conversation with our wives about how we talk about and handle our finances as couples. We also had some great questions that were posted in our Facebook group- some specific ones we get to are:

Any advice for newlyweds in handling finances together? (from Chelsea)What was our biggest financial disagreement? (from Katy)Do we agree on the goal of financial Independence? (from Connor)(plus a bunch of other embarrassing and funny stories!)

And since we recorded while at the beach down in Jacksonville, it was fitting that we stumbled upon a fantastic new local brewery! At the beginning of this episode we each cracked open and enjoyed a Bulletproof Denali by Southern Swells Brewing Co. 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!

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Good Debt vs Bad Debt #022 Jun 06, 2018

Show notes

Conventional wisdom tells us that getting out of debt is smart. And while generally that might be true, we're here to explain how that approach may not be the best decision for you! Oftentimes keeping low-interest debt around while you're able to invest and maximize your returns elsewhere will easily make the most sense when you're looking at the numbers. In this episode we cover the characteristics of good debt and bad debt, and then we talk through some helpful pointers on how to manage your current debt.

Remember this one thing: somewhere around 7% is the magic number that separates low interest debt from high interest debt. That's the interest rate that acts as a divider in our current market. Anything higher than that you'll want to pay off sooner than later, and anything lower than that, there is a good chance you can take those extra payments and invest to make a big enough return to make it worthwhile. Listen to the entire episode to hear us break it down because it's a very nuanced topic!

At the beginning of this episode we each cracked open and enjoyed a beer called Infusion A - Coffee Porter by Hoppin' Frog Brewery, a peanut buttery porter 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!

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See omnystudio.com/listener for privacy information.

Everything You Need to Know About Emergency Funds #021 May 30, 2018

Show notes

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.com

See omnystudio.com/listener for privacy information.

Why Commuting to Work is Killing You #020 May 23, 2018

Show notes

Commuting to work sucks! It’s likely one of your least favorite things to do everyday assuming you’re an individual commuter, driving along in your own metal box that costs you thousands to own and operate. It’s stressful dealing with traffic and not to mention our cars encourage us to be lazy and perpetuate the lifestyle of excess and consumption. I mean does it really require a $15,000+ luxury vehicle that weighs over 4,000 lbs to transport a single individual to work and back?! In this episode we discuss the alternatives to traditional commuting, and specifically how these alternatives benefit employees, employers, cities as a whole, and obviously the environment. Listen to the entire episode to learn what steps you can take today, regardless of your situation.

At the beginning of this episode we each cracked open a couple beers from John, a local home brewer here in Atlanta- sorry, you won't be finding this one on your local grocery store shelf. It is called A Splinter in the Mind by Little Cottage, a flanders red which we've dubbed our favorite beer of 2018! 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.com

See omnystudio.com/listener for privacy information.

Do You Need a Financial Advisor? #019 May 16, 2018

Show notes

Investing advice is the number one reason why people hire financial advisors, and we're here to tell you that you're wasting your money!!! Certainly a financial advisors could help you with other things like financial goal setting and managing cash flow, but ultimately it still comes down to you doing the hard work yourself (plus, we've already covered those topics on previous episodes, have a listen)! The biggest reasons why you don't need a financial advisor is because financial advisors can be really expensive, and plus, they don't always point you in the right direction! Listen to the entire episode to find out why don't recommend financial advisors.

So there you go- you DON'T need a financial advisor. Instead, you need to be investing in well diversified, low-cost index funds like our favorites, VTSAX and VOO. That's what Warren Buffett recommends and he was willing to prove it by making a 10 year bet against hedge fund managers (as if being the 3rd richest man in the world wasn't enough proof).

And at the beginning of this episode we each popped open a bottle of Allagash's Curieux, which you can find and learn all about on Untappd. A huge thanks to Allagash 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.com

See omnystudio.com/listener for privacy information.

The Art of Asking for a Discount #018 May 09, 2018

Show notes

Asking for a discount isn't something that most people enjoy doing, but we'd be willing to wager that you don't ask for discounts enough. It's your money after all- hang onto it! In this episode we discuss haggling, rejection, and some reasons why asking for a discount should be a healthy part of your financial life. We also go through some practical steps we take when asking for a discount and share a few stories of when we've gotten that sweet discount or when we've had to say 'thanks for considering!' and walk.

It's an overused maxim, but that doesn't make it any less true: If you never ask for a discount, the answer will always be no.

At the beginning of this episode we cracked open a couple beers that Joel brought back from Paris- we are so incredibly cultured y'all! Specifically we were a fan of the Blanc by Gallia Paris, which you can learn about on their website but good luck since it's in French! 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.com

See omnystudio.com/listener for privacy information.

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