Action Item: Start tracking one financial ratio right now. Choose one from the list below, write it down in a note or spreadsheet, and begin monitoring it regularly to see your progress over time.
Summary
In this episode, I break down the seven essential financial ratios that act as your personal financial report card. I explain how tracking these numbers can help you finally know if you're making real progress or just spinning your wheels. Through Sofia's case study, I walk through how a recent grad tracked these ratios from her first job through her first apartment crisis to building over $100,000 in net worth in just three years. These financial thermometers give you a clear dashboard so you know exactly which areas of your money life need attention, and they help your mind naturally start working in your favor to spot opportunities you'd otherwise miss.
Resources & Links Mentioned
Timestamps
[01:21] The problem with conflicting financial advice and why you need a dashboard
[03:01] Savings ratio explained: Why 10-20% is your target range
[04:30] Debt-to-income ratio: How debt strips opportunity from your life
[05:25] Why Fidelity's "1x salary by 30" advice misses the mark
[07:29] Sofia's case study begins: Starting at -$3,200 net worth
[09:00] Net worth ratio: My favorite number to track (and why it's so powerful)
[10:12] Debt-to-assets ratio: Understanding the safe, moderate, and danger zones
[14:00] August 2021: When Sofia's moving expenses caused her ratios to spike
[16:00] October 2024: Sofia's transformation to $142,000 net worth and $2,400 monthly savings
[18:41] Five financial milestones to hit by age 30
[20:54] The retirement savings trick I've never seen anyone regret
Email me at fpyapod@gmail.com
Schedule a call with me: https://cal.com/moneytalk/chat
Action Item: Subscribe to Financial Planning for Young Adults and tune in every week
In this trailer, I introduce Financial Planning for Young Adults and explain why I created this podcast specifically for our generation. I share my background as a future CFP and financial planner who's actually lived through the challenges we face, including student loans, inflation, conflicting advice, and all the rest. I break down what the show will cover, from setting up realistic financial plans to understanding your values and using money as a tool to build the life you want to live. The show is designed for young adults who are working hard, tired of the status quo, and ready to avoid the financial mistakes they've seen others make.
At the end, I reveal three key ways I'm different from traditional financial advisors!
Resources & Links Mentioned
Financial Planning for Young Adults podcast: https://creators.spotify.com/pod/profile/fpya
YouTube Channel: https://www.youtube.com/@FPYApod
Email me at fpyapod@gmail.com
Action Item: Make a decision on that financial hurdle you've been avoiding. Use what you learned today and make a decision. Progress beats perfection
Summary:
In this episode, I break down the mental and behavioral hurdles we all face with money, specifically the paralysis that comes from having multiple good financial choices. I walk through the psychology behind debt decisions, why budgeting feels restrictive, and how to overcome the fear of starting to invest. You'll learn about the surprising ways your parents' relationship with debt influences your own comfort level, practical behavior modification techniques like the 24-48 hour rule for purchases, and how to avoid common investing traps like analysis paralysis and loss aversion. I also share Alex's case study, a 27-year-old making $75,000 with $500 extra per month, torn between paying off $32,000 in student loans at 5.2% or investing for the future. The key takeaway: it's not always about perfect math. Sometimes the right answer is finding a balance that lets you make progress without the constant anxiety of choosing wrong.
Resources & Links Mentioned:
Why is Personal Finance Dependent Upon Your Behavior (Educounting): https://educounting.com/why-is-personal-finance-dependent-upon-your-behavior/
Navigating The Psychology of Money: A Guide To Behavioural Finance (Holistique Training): https://holistiquetraining.com/en/news/psychology-of-money
The Psychology of Investing: 5 Mental Traps and How to Avoid Them (Gatsby Investment): https://www.gatsbyinvestment.com/education-center/psychology-of-investing
Episode 11: Pausing Retirement Contributions and the 6% Rule: https://youtu.be/k7EbYlCp7DQ
Schedule a free meeting with me: https://cal.com/moneytalk/chat
Timestamps:
[03:00] The surprising connection between your parents' debt comfort and yours
[04:21] The 24-48 hour rule: How waiting before purchases will save you tons of money
[06:34] Three behavior modification techniques: SMART goals, using technology, and reframing budgeting
[08:37] Getting started with investing: Overcoming the fear that it's like gambling
[09:22] Five mental traps in investing and how a simple index fund approach solves most of them
[12:54] The most common objection: Paying down debt versus saving for retirement
[13:32] Alex's case study begins: $75k salary, $500 extra per month, student loans vs. investing
[16:14] The 6% rule: Your guideline for deciding between debt payoff and investing
[17:02] Running the actual numbers: $30k from investing vs. $25k from debt payoff then investing
[18:52] Why it's okay to split the difference and find your mental balance
[20:43] Your action item and how to get help making this decision
Schedule a call with me: https://cal.com/moneytalk/chat
Email me at fpyapod@gmail.com
Action Item: Review your Christmas spending or charitable giving from this year and figure out a plan to make it easier on yourself next year. Set up either a sinking fund for Christmas spending or a donor-advised fund for charitable giving (bonus points if you do both!).
Summary:
In this episode, I break down how to build generosity into your financial plan beyond just the holiday season. I share how my wife Rebecca and I use sinking funds to make Christmas gift-giving stress-free by saving throughout the year instead of scrambling in December. Then I dive into the tax advantages of charitable giving, explaining why donating appreciated securities can be way smarter than donating cash, and how donor-advised funds (DAFs) let you get an immediate tax deduction while spreading donations throughout the year. Finally, I walk through Miranda and Chris's case study, showing how they set up a simple donation system using a DAF to support their church, a local nonprofit, and disaster relief without the mental load and decision fatigue.
Resources & Links Mentioned:
Fidelity Charitable Planning Guide: https://www.fidelitycharitable.org/content/dam/fc-public/docs/advisors/charitable-planning-guide.pdf
Kiplinger article: "Giving Tuesday Is Just the Start: An Expert Guide to Keeping Your Charitable Giving Momentum Going All Year": https://www.kiplinger.com/retirement/how-to-keep-charitable-giving-momentum-going-all-year
CFP Board article: "How to Incorporate Charitable Giving Into Your Budget": https://www.letsmakeaplan.org/financial-topics/articles/charitable-giving/how-to-incorporate-charitable-giving-into-your-budget
Article: "Do Millennials Have the Best Personal Finance Habits?": https://www.prosper.com/blog/millennials-personal-finance-habits
Daffy (donor-advised fund platform): https://www.daffy.org/sjayf98/invite
Monarch Money: https://monarchmoney.sjv.io/e199P6
Timestamps:
[02:36] My story: How Rebecca and I use sinking funds to save for Christmas gifts throughout the year
[04:00] The system: Calculating your Christmas budget and dividing it across 11-12 months
[09:15] Tax advantages of charitable giving and AGI limitations
[14:12] How to legally "game the system" by donating securities and keeping cash
[16:00] What is a donor-advised fund and why you need one
[19:00] Why our generation is better at talking about money (and why it matters)
[21:25] Four ways to incorporate charitable giving: time, non-cash items, securities, and DAFs
[23:42] Case study begins: Miranda and Chris want to donate more strategically
[27:00] Their problems: No tracking system, tax complexity, mental load, lack of automation
[29:17] How to figure out how much to donate (start with 5% and review in 3-4 months)
[30:32] Chris's big tax win: Donating appreciated tech stocks directly
Email me at fpyapod@gmail.com
Action Item: Open an account with Fidelity or Vanguard this week and start investing in index funds like VTI and VXUS.
Summary
In this episode, I share my own journey of almost falling into the day trading trap and explain why trading feels so much like gambling, while true long-term investing doesn't have to be. I walk through eye-opening research showing that 80% of day traders fail within a year and 72% end up losing money, with the odds heavily stacked against individual traders competing with supercomputers. I break down why apps like Robinhood use gamification tactics to manipulate young adults into trading more frequently. Then I show you the data proving that a simple buy-and-hold strategy with index funds consistently outperforms active trading, with the S&P 500's worst 20-year return still being a positive 6.4%. In today's case study, I introduce you to John, a 26-year-old software engineer who thought he was investing but was really just gambling his way to a disappointing 3% return over two years. He could have made 24% by simply buying an S&P 500 index fund and leaving it alone. I walk you through exactly how to set up a simple, stress-free investment strategy using total market index funds that you can check once or twice a month instead of obsessing over daily.
Resources & Links Mentioned
Is Day Trading a Form of Gambling? - Gateway Foundation: https://www.gatewayfoundation.org/blog/day-trading-gambling/
Why Most Traders Lose Money – 24 Surprising Statistics - Tradeciety: https://tradeciety.com/24-statistics-why-most-traders-lose-money
Day Trading Statistics 2025: The Hard Truth - QuantifiedStrategies: https://www.quantifiedstrategies.com/day-trading-statistics/
Robinhood and the Gamification of Investing - FinMasters: https://finmasters.com/gamification-of-investing/
Buy and hold investing - Fidelity: https://www.fidelity.com/learning-center/personal-finance/buy-and-hold-investing
Timestamps
[02:49] My story: How I almost got trapped by Public.com's social trading platform
[09:22] Research begins: Why 80% of day traders fail within one year
[12:20] The shocking stats: Only 1% of traders are profitable after fees
[14:46] How day trading preys on young men in our exact demographic
[18:28] Why Robinhood is the worst offender for gamifying investing
[22:00] The S&P 500 data: Even the worst 20-year return was positive 6.4%
[22:58] Three advantages of buy-and-hold investing: compounding, lower costs, and tax efficiency
[28:08] John's case study begins: $10,000 grew to only $10,300 in two years
[32:46] The reality check: John missed out on $2,100 by trading instead of investing
[34:00] My advice: How to set up a simple two-fund portfolio with VTI and VXUS
Email me at fpyapod@gmail.com
Action Item: Open up your 401(k) account and confirm you're getting the full employer match. If you're not, adjust your contribution this week to capture that free money.
Summary
In this episode, I tackle the question most financial experts won't touch: Is it ever okay to pause your retirement contributions? I share how my wife and I partially paused our contributions to save for our adoption, and why we made sure it was strategic rather than permanent. I walk through research showing what happens when you pause versus stay consistent through market downturns, including case studies from 2000, 2008, 2020, and 2022 that prove the investor who keeps contributing ends up nearly $200,000 ahead. Then I share four mini case studies: Sarah who paused strategically to pay off $8,000 in credit card debt, Marcus who never paused and retired at 50, Jason who paused for the AI bubble and never restarted, and Alicia who's being squeezed by both lifestyle inflation and real inflation. Pausing might be okay in specific emergencies, but stopping permanently will cost you decades of compound growth and employer match money you'll never get back.
Resources & Links Mentioned
I'm a Financial Expert: Here's Why I Paused My 401(k) Contributions To Prepare for a Recession: https://www.nasdaq.com/articles/im-a-financial-expert:-heres-why-i-paused-my-401k-contributions-to-prepare-for-a-recession
4 Signs You May Need to Pause Your 401(k) Contributions (The Motley Fool): https://www.fool.com/investing/2020/04/12/4-signs-you-may-need-to-pause-your-401k-contributi.aspx
How to Maximize Your 401(k) Employer Match (Ameritas): https://www.ameritas.com/insights/how-to-maximize-your-401k-employer-match/
Why You Shouldn't Hit Pause on Your 401(k) (Morningstar): https://www.morningstar.com/markets/should-you-hit-pause-401k-thats-losing-money
Pay Down Debt vs. Invest: How to Choose (Fidelity): https://www.fool.com/investing/2020/04/12/4-signs-you-may-need-to-pause-your-401k-contributi.aspx
Timestamps
[01:30] My story: How we partially paused retirement contributions to save for adoption
[10:11] The $200,000 question: Case studies from four major market downturns
[17:44] Case studies comparing 2000, 2008, 2020, and 2022 market crashes
[21:47] The 6% rule: When to pay off debt before investing
[24:00] Sarah's story: The strategic pauser who paid off $8,000 in 8 months
[26:41] Marcus's story: Never paused, retired at 50
[30:40] Jason's story: Paused for the AI bubble and never restarted
[33:13] Alicia's dilemma: Squeezed by lifestyle inflation and real inflation
Email me at fpyapod@gmail.com
Links may earn affiliate commissions
Action Item: Open a note or document on your phone and write down three upcoming life changes in the next 2-5 years. For each one, write down one specific way you can adjust your budget or savings if it happens sooner than expected.
Summary
In this episode, I share the big news that my wife and I are adopting and how this completely changed our financial plan. I walk through how we had to temporarily pause maxing out our IRAs to save for adoption costs (which can run $30,000-$80,000), and why that's completely okay. I cover the research on building flexibility into your financial plan, including how to handle major life events like marriage, job promotions, and children. The key takeaway is that no financial plan is perfect because life always changes, and the best thing you can do is write down your plan with clear guardrails so you can adapt without the stress. I wrap up with Maya's case study, showing how she and her fiancé Liam saved for a wedding in just 10 months by temporarily reducing her 401(k) contributions and getting strategic with their savings.
Resources & Links Mentioned
Long and short-term financial planning for life's major events | Citizens: https://www.citizensbank.com/learning/planning-for-life-events.aspx
How to Reevaluate and Adjust Your Financial Plan as Your Life Changes – Bautis Financial: https://bautisfinancial.com/how-to-reevaluate-and-adjust-your-financial-plan-as-your-life-changes/
Flexibility in Financial Planning: 10 Strategies to Build a Future That Can Bend Without Breaking: https://www.boldin.com/retirement/flexibility-in-financial-planning-10-strategies-to-build-a-future-that-can-bend-without-breaking/
I'm a Financial Planner: This Is Why Commitment, Not Perfection, Drives Financial Success: https://www.kiplinger.com/personal-finance/why-commitment-not-perfection-drives-financial-success
Monarch Money (budgeting app with Fixed/Non-monthly/Flex expense categories): https://www.monarchmoney.com/referral/cys5ela3oz?r_source=share
Timestamps
[01:48] My adoption story: How we realized we'd have to stop maxing our IRAs
[03:29] Why it's okay to feel stressed about financial changes
[09:17] Major life events that require financial planning adjustments
[11:45] How to reflect on your current situation and revisit your goals
[15:50] The home run quote: "A static number can give false comfort or create unnecessary stress"
[16:27] The 10 strategies for building flexibility into your plan
[19:46] Why commitment matters more than perfection in financial planning
[23:04] Maya's case study begins: A 26-year-old facing a sudden wedding
[26:22] Maya's plan adjustment: Temporarily reducing 401(k) and student loan payments
[28:33] The importance of weekly budget check-ins with your partner
[29:27] Why you need a "return to normal" plan to avoid lifestyle creep
[30:26] Handling the emotional complexity of accepting money from parents
[34:00] Today's action item: Write down three upcoming changes and how you'll adjust
Email me at fpyapod@gmail.com
Links may earn affiliate commissions
Action Item: Review your tax situation and see which strategy you can implement before filing your taxes this year. If you're sitting on investment gains, check if you qualify for 0% capital gains harvesting.
Summary
In this episode, I break down the tax strategies that nobody taught us in school but that can save you hundreds or even thousands of dollars. I share how my wife and I legally paid 0% taxes on our investment gains using capital gains harvesting, and I walk through exactly how you can do the same. I explain how tax brackets actually work (spoiler: a raise won't hurt you), the difference between gross income, AGI, and taxable income, and when to take the standard deduction versus itemizing. I also cover how to turn investment losses into tax savings with the $3,000 capital loss deduction, how 401k contributions reduce your tax bill while building wealth, and the last minute strategy my wife and I used to flip a tax bill into a refund by contributing to our HSA and IRA before the filing deadline. The key takeaway: taxes are complicated on purpose (thanks tax filing companies), but with a little knowledge, you can use them to your advantage.
Resources & Links Mentioned
Fidelity - How Tax Brackets Work: https://www.fidelity.com/learning-center/personal-finance/how-do-tax-brackets-work
TaxAct - How Tax Brackets Work: 2025 Examples and Myth Busting: https://blog.taxact.com/how-tax-brackets-work/
SmartAsset - Taxable Income vs. AGI: Key Differences and Examples: https://smartasset.com/taxes/taxable-income-vs-agi
NerdWallet - Itemized Deductions: How They Work, Common Types: https://www.nerdwallet.com/taxes/learn/itemized-deductions-standard-deduction
Golden Road Advisors - 7 Common Tax Mistakes and How to Avoid Them: https://goldenroadadvisors.com/common-tax-mistakes/
[Money Talk] Planning for Taxes with Kyle Beltle - 191: https://youtu.be/amnlKPoWipM
[FPYA] Free Healthcare with an HSA - 6: https://youtu.be/dnOr-lkNxo8
Timestamps
[03:08] My story: How we paid 0% taxes on investment gains
[09:43] Research begins: How tax brackets actually work (the bucket metaphor)
[14:23] 2026 tax tables breakdown for planning ahead
[16:00] Capital gains tax brackets and the 0% opportunity
[17:18] What is AGI (Adjusted Gross Income) and why it matters
[19:11] Standard deduction vs itemized deductions explained
[20:32] Common tax mistakes (including my IRA over-contribution story)
[23:13] Case Study 1: Emma's raise - proving you won't make less money
[26:31] Case Study 2: Marcus's 0% capital gains harvest and raising basis
[30:04] Case Study 3: Jordan's $2,100 loss turned into $462 tax savings
[34:06] Case Study 4: Aisha's 401k strategy saves $501 in taxes
[36:31] Case Study 5: David and Maya's last-minute HSA/IRA contributions flip their tax bill into a refund
Email me at fpyapod@gmail.com
Links may earn affiliate commissions
Action Item: Start tracking your food waste and implement a basic meal planning system to reclaim up to $2,000 per year in grocery savings.
Summary:
In this episode, I tackle the hidden money leak most young adults ignore: food waste. I share how I discovered I was throwing away my "bulk savings" on unused food when I kept finding moldy pizza sauce in my fridge. Through research, I reveal that the average American household wastes $1,500-$2,300 annually on food that never gets eaten. I break down the psychology behind bulk buying, explain why warehouse stores may actually cost you more than they save, and provide a simple framework for meal planning that works even with unpredictable schedules. You'll learn practical steps to inventory what you already own, buy strategically, and stop throwing your hard-earned money in the trash.
Resources & Links Mentioned:
Timestamps:
[02:34] My personal story: Discovering moldy pizza sauce and wasting money
[08:16] Research: The dangerous psychology of "healthy" snack foods in bulk
[09:51] Why buying spices in huge containers is a waste of money and flavor
[13:41] How the psychology of abundance leads to bigger portions and weight gain
[16:57] The shocking truth: 40% of America's food supply is thrown away daily
[19:13] Five simple steps to start meal planning without getting overwhelmed
[20:52] How to recognize your personal food waste patterns and adjust
[23:11] Using AI chatbots to help create meals from what you already have
[24:09] What could you do with an extra $2,000 per year?
Email me at fpyapod@gmail.com
Links may earn affiliate commissions
Action Item: Take a few minutes to write down how different money sources (cash, tax refunds, gifts) make you feel, and identify where you might be mentally accounting money differently.
Summary:
In this episode, I tackle the dangerous game of mental accounting! How we treat money differently based on its source, even though all money is fungible. I share my personal struggle with my wife about whether to use savings or income for various goals, and why trying to keep track of it all mentally leads to stress and confusion. I explore why tax refunds, cash, and windfalls often feel like "free money" when they're not, and why Gen Z views cash differently than previous generations. The key takeaway is that while mental accounting can be dangerous, there's value in creating real systems (like digital budgeting tools) that work with your mindset rather than fighting against it, helping you make intentional choices with your money regardless of its source.
Resources & Links Mentioned:
Timestamps:
[05:00:00] Personal story about the struggle between using savings vs. income
[13:05:00] Research on mental accounting and why tax refunds feel like "found money"
[16:47:00] Why keeping a vacation fund while having credit card debt doesn't make sense
[21:05:00] How Gen Z views cash as "cringe" compared to older generations
[22:39:00] The concept of "revenge saving" to combat financial uncertainty
[24:12:00] Application section begins with budgeting to avoid mental accounting
[29:05:00] How to use debit cards and separate accounts as modern "cash envelopes"
[30:43:00] Money journaling to understand your feelings about spending
[31:53:00] The importance of having a written financial system rather than mental tracking
Email me at fpyapod@gmail.com
Links may earn affiliate commissions
Action Item: Set up a simple tracking system to save your medical receipts digitally and begin paying medical expenses from your personal accounts instead of your HSA.
In this episode, I reveal how the HSA can function as more than just a medical spending account. It's actually a powerful wealth-building tool. I walk through exactly how my wife and I have grown our HSA by $2,900 through investing, allowing us to pay for her monthly massages using only the growth from our account. I explain the "shoebox strategy" where you pay medical expenses out-of-pocket, save receipts, and let your HSA investments grow tax-free before reimbursing yourself years later. Through Sarah's case study, I demonstrate how a typical young professional making $62,000 could potentially build a $750,000 tax-free account by retirement simply by implementing this strategy consistently. The key takeaway: with proper setup and discipline, the HSA can essentially provide you with free healthcare funded entirely by investment growth.
Resources & Links Mentioned:
Timestamps:
[02:39] My story of investing our HSA and getting my wife free massages
[04:01] The best HSA provider and how to transfer your HSA
[07:26] Research on HSA benefits for 20-30 year olds
[13:11] The Shoebox method for tracking HSA receipts and expenses
[16:54] Case study: How Sarah turned her HSA into a $47,000 healthcare fund
[22:27] When to use your HSA money vs. letting it grow
[25:18] Long-term projection: How an HSA can grow to $475,000 in 30 years
[28:35] Key takeaways from the ultimate HSA strategy
Email me at fpyapod@gmail.com
Links may earn affiliate commissions
Action Item: Set up a sinking fund this week for your next big expense (vacation, car repair, holiday gifts) to start enjoying guilt-free spending.
Summary:
In this episode, I share how sinking funds revolutionized my financial life by allowing my wife and I to enjoy our Hawaii vacation completely guilt-free. I explain why traditional "spend less than you make" advice from our parents falls short for our generation's complex financial landscape, and how the simple bucket budgeting approach can transform your relationship with money. Through a step-by-step breakdown and Michelle's case study, I demonstrate how organizing your finances into just three buckets (bills/needs, savings/sinking funds, and discretionary spending) eliminates financial anxiety and allows you to confidently spend on what matters most. The key takeaway: when you plan ahead with sinking funds, large expenses stop being emergencies and become exciting, guilt-free experiences.
Resources & Links Mentioned:
Timestamps:
[03:19] My story: Saving for Hawaii while on single income
[05:47] How sinking funds transformed our vacation experience
[09:49] What exactly are sinking funds and how they work
[13:57] 7-step process to set up your own sinking funds
[15:57] The three-bucket approach to simplified budgeting
[19:01] Why millennials experience so much spending guilt
[25:10] Case study: How Michelle used buckets to eliminate financial anxiety
[31:16] The psychological transformation: from money stress to confidence
[35:45] How Michelle used sinking funds to afford a surprise $1,800 girls trip
Email me at fpyapod@gmail.com
Links may earn affiliate commissions
Action Item: Schedule a time this week to review your beneficiary designations on all your financial accounts.
Summary:
In this episode, I break down why estate planning doesn't have to be complicated or expensive for young adults. I explain how my wife and I discovered that we didn't even need a will at this stage of our lives. Instead, we could handle most of our estate planning through simple beneficiary designations. I walk through the 8-step process we used to organize our beneficiaries and share Bradley's case study, showing how he got his entire estate plan in order for just $40 (the cost of a fireproof safe). The key takeaway: 80-100% of your assets can be handled through free beneficiary designations without needing expensive legal documents or attorneys.
Resources & Links Mentioned:
Timestamps:
[01:33] My story: Years of putting "create a will" on my to-do list
[04:35] The 7-step process for updating beneficiary designations
[10:47] The Terri Schiavo case: Why a 26-year-old needed a healthcare directive
[15:08] Why beneficiaries trump a will: The shocking statistics
[21:16] Bradley's case study begins
[28:22] Bradley's action plan: The four simple steps
[37:09] Bradley's total costs: $40 for estate planning basics
Email me at fpyapod@gmail.com
Links may earn affiliate commissions
Action Item: Write down your answer to “Why is money important to you?” for your money decisions this week, then use it to guide one financial choice.
Summary
In this episode, I break down how to build a simple and effective financial plan in your 20s. I explain that financial planning doesn't have to be complex or expensive. It's about creating a roadmap that aligns with your personal "why" for money. I share my experience creating a financial plan with my wife, emphasizing how starting with your motivations makes decision-making clearer. The episode covers the power of automation, the importance of starting early with investing, insurance considerations, and basic estate planning needs. A detailed case study of Jordan, a 26-year-old marketing manager, demonstrates how to create a one-page financial plan that builds toward financial independence.
Resources & Links Mentioned
Key Timestamps
[02:10] What is financial planning? A roadmap for your money
[09:51] Starting with your financial "why"
[16:11] The power of automation in managing money
[21:27] Case study: Building Jordan's one-page financial plan
[26:08] Simple investing strategy for long-term growth
[29:11] Insurance planning: Disability and term life insurance
[34:39] How your financial plan evolves through life stages
[37:54] Key takeaway: Financial planning can be simple
Email me at fpyapod@gmail.com
Links may earn affiliate commissions
Action Item: Talk with a friend, family member, or spouse about the emotional weight of debt
Summary:
In this episode, I share the emotional story of making my wife cry during what I thought was a simple discussion about her student loans. What started as a spreadsheet-driven approach to paying off $58,000 in PA school debt revealed a deeper emotional connection between student loans and personal freedom. I walk through our journey from mathematical optimization to emotional understanding, including how we eventually balanced investing goals with debt payoff to arrive at a 3-year payoff plan. You'll learn practical strategies for handling student loans, including refinancing, automation, and balancing emotional well-being with mathematical optimization.
Resources & Links Mentioned:
Timestamps:
[00:00] The moment my spreadsheet made my wife cry
[02:15] Our early disagreements about student loan debt
[05:10] How we took advantage of COVID interest rate pauses
[09:38] The emotional breakthrough: Why my wife was crying
[13:22] Creating a balanced payoff plan that works for both of us
[14:48] The psychological impact of student loans on mental health
[17:34] Our case study: Breaking down our $58,000 student loan plan
[20:08] How refinancing saved us nearly $2,500
[24:01] Balancing student loan payoff with retirement investing
[26:37] Key takeaways from our student loan journey
Email me at fpyapod@gmail.com
Links may earn affiliate commissions
Action Item: Take 15 minutes this week to reflect on George Kinder's three questions and write down your true financial "why."
Summary
In this episode, we explore how to discover your financial "why" - the deeper purpose behind your money decisions. We discuss Simon Sinek's Start With Why methodology applied to personal finances, break down the four money scripts identified by Dr. Brad Klontz that may be sabotaging your financial decisions, and examine the case study of Olivia, a 28-year-old software developer who realigned her finances to match her true values. The episode emphasizes that generic financial advice often fails to account for individual priorities and values, showing how your money becomes more meaningful when it supports what truly matters to you.
Resources & Links Mentioned
Timestamps
[01:09] Introduction to finding your financial "why"
[02:25] Simon Sinek's Start With Why applied to personal finance
[04:16] George Kinder's three powerful questions for financial reflection
[05:28] Understanding money scripts and how they affect your decisions
[08:17] Personal story about money vigilance and tracking to the penny
[10:18] Research on millennials and Gen Z money mindsets and values
[12:27] Introduction to Coast Financial Independence concept
[14:30] How to change when you identify your values
[15:10] Case study: Lance and Alyssa realigning spending with community values
[17:48] Olivia's case study: Balancing retirement savings with present needs
[19:51] How Olivia discovered her true financial values and priorities
[20:53] Rebalancing finances based on true values instead of generic advice
[24:40] Discussion on how much retirement savings is "enough"
[27:12] The role of location and community in financial planning
[31:25] Closing thoughts on aligning spending with values
Email me at fpyapod@gmail.com
Links may earn affiliate commissions