DiscoverHow to MoneyMoney, Your Brain, and Buying Happiness #046
Money, Your Brain, and Buying Happiness #046

Money, Your Brain, and Buying Happiness #046

Update: 2018-11-286
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Buying new stuff makes us happy, right? Yeah for a minute, but you may have noticed how quickly you get used to all that new stuff! Hedonic adaptation, or the hedonic treadmill, helps us understand the effect of consumption. Coming to grips with that can help us end unhealthy cycles of mindless consumerism and set us on a path to a healthier way of thinking about money, spending, and saving for the future. Listen to the full episode to learn how hedonic adaptation can be terrible, how it can actually be a good thing, and then finally to learn how to hack it and truly control how happy you really are.

During this episode we enjoyed a Mangifera Flux by Marz Community Brewing which you can find and learn all about on Untappd. A huge thanks to our buddy Andrew for bringing this beer all the way back from Chicago. 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!

Best friends out!

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Personal Mission Statements with $Pro Scott Rieckens #054
***We are pumped to start releasing an additional episode every week that we’re calling our money pro episode, or $Pro for short! Every Monday we’ll hear from a $Pro as they discuss a topic that they’re passionate and knowledgeable about, and then we unpack it even further and discuss the impact that topic has on our financial lives.***Too often in life it’s like we’re sleepwalking- as if we’re drifting through life without any clear guiding principles. Due to that, our day-to-day is filled with different people, companies/advertising, and events having more sway over our lives and money than we do. Scott Rieckens is here to change that with his approach to creating a personal mission statement and to remind us to proactively take control and start directing our own future! This is a topic that is near and dear to his heart. After realizing that his growing family was in a state of overconsumption, he and his wife re-assessed their family’s priorities which then led them to cancel their boat club membership, sell their BMW, and move away from pricey Coronado, CA. They didn’t have to do any of this, but they chose to do all of this after creating a personal mission statement! Listen as we break it down and go through how you can create your own mission statement- plus we share our personal mission statements as well.During this episode we enjoyed a Cold Mountain by Highland Brewing which you can find and learn all about on Untappd. A big thanks to our friends Clark and Nanci in Asheville for donating this delicious beer! 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 advertising on the HowStuffWorks podcasts at www.howstuffworks.com/advertisers.htmAnd to learn about your ad choices when listening to podcasts, visit https://www.howstuffworks.com/privacy.htm#ad-choices
All About That Peace Out Money #041
Imagine that you have a well paying job but otherwise it sucks and you wish you could leave. And now imagine that an amazing opportunity comes along for you to start your dream business- that thing you’ve always wanted to do, but the problem is that you know you won’t be able to pay yourself for a solid year. What you need is peace out money to keep you afloat! Or maybe some family or health issues have come up and you want to be able to spend time with family, or maybe you just want to take some time off and road trip it for 6 months. Either way, the answer is peace out money! We’re defining this as having enough money on hand to leave situations or jobs where you could technically stay, but you’re choosing not to because you’d rather do something else. You have that peace out money to bridge you to the next job or opportunity that you really want to pursue. Listen to the full episode to hear the additional benefits of peace out money, how it's different than reaching financial independence, and then finally the steps you can take to make sure you have your own peace out money set and ready for when you need it.And during this episode we enjoyed a 2014 Oud Bruin by yEast Atlanta Brewers which you can find and learn all about on Untappd. A big thanks to our friend John for brewing, aging, and donating this beer! 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 advertising on the HowStuffWorks podcasts at www.howstuffworks.com/advertisers.htmAnd to learn about your ad choices when listening to podcasts, visit https://www.howstuffworks.com/privacy.htm#ad-choices
You Gotta Invest in what You Know #031
We talk a lot about real estate investing on the show. However, if that’s not your thing then don’t worry about real estate- it is not necessary to build wealth. Just be sure that you’re investing somewhere, in something, and it’s so important that you invest in what you know! In this episode we cover some alternative ways to invest your money, as a way to get you thinking creatively and strategically when it comes to investing so that you can earn over 10% while feeling more fulfilled at the same time. Listen to the full episode to get inspired! However, if you find that you don’t currently have the time or ability to take on these alternative methods, at the very least you can start with traditional investing which you can easily learn all about in Episode 9: Retirement Investing is Simpler than You Think.And at the beginning of this episode we each enjoyed a Plank’d by Avery Brewing Company which you can find and learn all about on Untappd. A massive thanks to Avery for donating this massive 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!Learn more about advertising on the HowStuffWorks podcasts at www.howstuffworks.com/advertisers.htmAnd to learn about your ad choices when listening to podcasts, visit https://www.howstuffworks.com/privacy.htm#ad-choices
Listener Question: Saving for My Kid's College #025
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!Learn more about advertising on the HowStuffWorks podcasts at www.howstuffworks.com/advertisers.htmAnd to learn about your ad choices when listening to podcasts, visit https://www.howstuffworks.com/privacy.htm#ad-choices
How to Give Away Your Money #024
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!Learn more about advertising on the HowStuffWorks podcasts at www.howstuffworks.com/advertisers.htmAnd to learn about your ad choices when listening to podcasts, visit https://www.howstuffworks.com/privacy.htm#ad-choices
Couples and Money ft. Our Wives #023
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Good Debt vs Bad Debt #022
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!Learn more about advertising on the HowStuffWorks podcasts at www.howstuffworks.com/advertisers.htmAnd to learn about your ad choices when listening to podcasts, visit https://www.howstuffworks.com/privacy.htm#ad-choices

Good Debt vs Bad Debt #022

2018-06-0600:41:09

Everything You Need to Know About Emergency Funds #021
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 advertising on the HowStuffWorks podcasts at www.howstuffworks.com/advertisers.htmAnd to learn about your ad choices when listening to podcasts, visit https://www.howstuffworks.com/privacy.htm#ad-choices
Why Commuting to Work is Killing You #020
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 advertising on the HowStuffWorks podcasts at www.howstuffworks.com/advertisers.htmAnd to learn about your ad choices when listening to podcasts, visit https://www.howstuffworks.com/privacy.htm#ad-choices
Do You Need a Financial Advisor? #019
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 advertising on the HowStuffWorks podcasts at www.howstuffworks.com/advertisers.htmAnd to learn about your ad choices when listening to podcasts, visit https://www.howstuffworks.com/privacy.htm#ad-choices
The Necessity of Community #016
Community is so incredibly important! In a culture today that values self-sufficiency and where it's every man for himself, we felt it was necessary to spend an episode covering one of the key fundamental values in our lives: community. Specifically we discuss how community can save you money, how it can help you out in a pinch, and how it contributes to a healthy and balanced life. Even though we love to talk about saving money, there are things you just can’t purchase that community provides, and we really had a great time covering those topics.We also spend a minute talking about digital communities and how they are awesome… but they shouldn’t replace physical and neighborhood community in your life.And at the beginning of this episode we shared a bottle of Hello Beautiful by Monday Night Brewing, which you can find and learn all about on Untappd. A special thanks to Monday Night Brewing 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 advertising on the HowStuffWorks podcasts at www.howstuffworks.com/advertisers.htmAnd to learn about your ad choices when listening to podcasts, visit https://www.howstuffworks.com/privacy.htm#ad-choices
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Money, Your Brain, and Buying Happiness #046

Money, Your Brain, and Buying Happiness #046

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