Determined to not... 16: Financial Security Through Passive Income with Joel Larsgaard. When starting on the journey to Financial Independence, it can be difficu…, 129: How to Teach Your Children About Money with The Budgetnista Tiffany Aliche, Today, we welcome back the Budgetnista, Tiffany Aliche. The economy was really bad, and her earliest memories were of a scary time when her educated father did whatever he had to do to make money. This doesn’t even include a tractor Brent decided to buy for a future business purpose! If you’re interested in gaining some appreciation with your first home purchase, Scott and Mindy also walk through the most common exit strategies and how you can prepare to use them. Signing agents work when their clients don’t—meaning they’re busiest at night and on the weekends—perfect for an actual side hustle. 2: Designing the Life You Want with Brad Barrett and Jonathan Mendonsa from Choose FI, This is the last half of the epic interview with Brad and Jonathan from Choose FI. She also has a new book out: Broke Millennial Takes On Investing: A Beginner’s Guide to Leveling Up Your Money, where she tackles investment basics. Yesterday we heard Aditi’s personal money story, and today she shares tips for speaking to your partner about your finances. While JL is an expert on the stock market, he doesn’t invest in real estate, so Scott and Mindy share their views about the real estate market and what this current stock market volatility might mean for real estate investors. * And So Much More! Problem? Today’s guest, Robyn, has this exact question (which many of you may have as well). Rosemarie Groner was a State Trooper - a good, recession-proof job. In this episode of The BiggerPockets Money Podcast, Rosemarie shares how she cut $23,000 out of her spending, paid off her debt in less than 4 years, and grew her income to the point that her husband could also quit his day job. For those who have money… or want more of it! * BiggerPockets Money Facebook Group Mindy and Scott go through Mike’s options, such as selling and putting the leftover profit into cash-…, 181: A Slow, Steady, and Sustainable Way to Buy Rentals with Julie, You may hear of 20 year olds with $1,000,000 in real estate, or a novice flipper doing 50 flips a year, or even a wholesaler who made six figures on one deal. Even better, they spend very little for their income bracket and invest in long-term index funds. 8: From Financially Perfect to Rock Bottom (and back again) with Tiffany “The Budgetnista” Aliche, Tiffany Aliche grew up talking about money. She’s got money all figured out, right? Whenever Carol wanted to buy something, she started a new entrepreneurial endeavor. Don’t worry about looking stupid. He ran away from home multiple times, ended up being homeless, and addicted to drugs. Their “break” was a six-month trip to Hawaii, paid for up front by their big savings account—but repaid by a series of side hustles in Hawaii. She purchased the duplex within the “path of progress” around Texas A&M University. At first, he was winning. She also has created a crowdsourcing database for other options. But that’s not all, Jeff owns another type of property...one he isn’t too proud of. But before she can go out and explore the world, she needs to take care of some high-interest credit card debt eating away at her bank account and her financial sanity. On that show, he sounds like he’s got his life all together. The bill gets split evenly. Finally, he got sick and tired of being sick and tired. Mike has worked in the music industry for years, moving all around the US to do his job. Ten years ago, Ramit Sethi released his groundbreaking book I Will Teach You to Be Rich. THIS is the episode you need. We turned the mics over to our members, who fired a bunch of great questions at Scott Trench and Mindy Jensen, Brandon Turner and David Greene, Joshua Dorkin, and J and Carol Scott. In This Episode We Cover She goes through some tactics to get your partner on the same page as you and create clear goals, all without revenge spending! And he parlayed his planning skills into a career as a financial advisor, eventually being named one of Investopedia’s Top 100 Advisors in 2017. Fast forward 4 years, and she tries to hand over the $100 - to her parents shock. Today Scott and Mindy sit down with Cameron Huddleston, author of Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances, who shares her story of the journey through her mother’s finances pre- and post-Alzheimer's. This is exactly what Josh and Ali, AKA “The FI Couple”, did in their 20s. In This Episode We Cover * Momma Pur…, 110: Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life, Purple graduated from college and got a job in New York City making $35,000 a year. These are the tips you didn't learn in high school. And with farm equipment comes farm equipment loans—to the tune of around $169,000. In today’s episode, we chat with Eric Brotman, CEO of BFG Financial Advisors, who discusses his top 6 ways to reduce taxable income. How is it possible to feel “broke” while making a great salary? This episode will help clear up some of the questions you may be having on your road to early financial independence. To prepare for the jump to self employment, he figured out his burn rate - and discovered it was a lot lower than he originally thoug…, 76: How to Talk to Your Partner About Money With the Debt Free Guys, John and David didn’t have "the money talk" right away. Those are the real people in real estate, and that is a success story worth sharing. Now, Angela writes on her own blog Tread Lightly, Retire Early where she shares her money journey, mistakes, and tricks to hitting financial freedom. With the help of his wife, Chris was able to get off the streets and live a stable life with his full time income. Brian is also debating whether or not he should take a truly passive role and invest in real estate syndication deals. They had credit card debt, a car loan, a truck loan, business loans, and a HELOC (home equity line of credit) against the house. Tiffany’s friends say that everything she touches turns to gold, but Tiffany says “I only touch gold!” She moved to LA to run a division covering California and Hawaii, and decided she needed to make a big change. Except, it’s NOT that easy, actually. * Diagnosing the behavioral issues around debt  lk to her about making millions! * The first thing that a couple should do once they discover that they are far apart on mo…, 82: Early Money Lessons Create Healthy Money Experiences with Aditi Shekar, Aditi Shekar learned entrepreneurship at a very early age - when she asked her father for a toy and he said no, make your own money. Even better, they spend very little for their income bracket and invest in long-term index funds. Scott Trench was celebrating his mom’s birthday, so Mindy Jensen is joined by Paul Thompson and Paula Pant, asking attendees of CampFI why they are on the path to Financial Independence, and hearing a bit about their stories. Things like charging pizza and gas - and not paying off the credit card bill at the end of every month! Start analyzing real estate properties, we do the math for you. She also has a $200,000+ investment portfolio, so not only does she have a positive net worth, when her student loans get forgiven, she’ll be sitting on a lot of money she’ll be able to play with! That is the question th At age 15, she hopped onto her bike and rode up to the convenience store, all but demanding a job. This is all accomplished through creating big visions, setting the pace for the rest of her financial life, prioritizing tasks in her life, and farming out her profitable skill sets. Whether that be spending copious amounts of time shopping at Costco or surfing at the beach, Robert has a li…, 154: Confessions of a Former Spender: How Allison Baggerly Paid off $110K in Loans on a Teacher’s Salary, Ever had a card declined when trying to buy the basics? Neither wanted to have the debt, and focused on paying it off and building an emergency fund. Meet Drew, the “Guy on Fire.” At age 27, he has already accumulated four properties with seven units in the hot Washington DC housing market. So he did. With us today is Erin Lowry aka Broke Millennial, you may recognize her voice from episode 24 and 81 of the BiggerPockets Money Podcast. From that foundational space, I’ve been able to go on and donate hundreds of thousands of dollars. Kyle is back again today to talk more to traditional age retirees - those of us who are retiring at or near age 65. They both worked in the financial industry, and each thought the other would be great with money. As always, consulting your own tax advisor and financial planner is advised, but Kyle brings up some very interesting ideas to take advantage of this down market. * Investing in your 401(k), Roth IRA, and Traditional IRA If you haven’t listened to that episode, here’s a quick recap. * BiggerPockets Money Podcast 50 wi…, 147: Pursuing Financial Independence on Her Own Terms with Cathleen Hutchins, Cathleen Hutchins grew up in Hawaii. 119: Coronavirus: Is it Time To Give Up On Financial Independence? From choosing a major wisely (or even deciding if college is truly the right choice for you) to paying for college, to truly understanding just how much it will cost you to pay back your student loans, the decisions you're making now, entering college, are going to affect your financial future for years to come. This is why Brian is debating whether or not he should put money into syndications. He has some debts he'd like to knock out so he can start investing in real estate, and potentially start a business. Phillip Taylor studied to be a CPA in college, just like his dad. They also explore PMI - when it makes sense to pay it down and when it’s OK to continue to pay. Rob stresses that a child’s relationship with money is more important than things like amortization schedules and interest rates. He started dabbling in real estate investing, and after closing his fourth deal worth $11 million, he... 59: Playing with FIRE (Financial Independence, Retire Early) with Scott Rieckens. hly payments on student debt, or go all-in and pay off huge chunks of student debt at once? Sarah Wilson paid off $33,000 of student loan debt. Just kidding. After getting together with her (then) boyfriend, they decided to buy a bigger house. She was a teacher at a private school and had just bought her first house. Something he’d wanted for 20 years suddenly wasn’t so awesome anymore. Will Kristine be able to retire far earlier than she plans? Tiffany’s current goal is to hit $10,000,000 in retirement savings by fifty, but thinks she may be able to do so before she turns forty-five. Discounted tuition coupled with scholarships and a bit of parental help allowed her to graduate with no debt. Don’t miss this awesome episode with Erin! And make sure to stick around until the very end of the show for a special BiggerPockets announcement you'll definitely want to hear! They were both on the title and mortgage. This episode is a cannot miss! You need to fix your "No money and bad credit" situation and invest from a position of financial strength. For those who have money… or want more of it! she was able to pay it off while making less than $30,000 year! Without going into too much detail, we’re all aware that healthcare costs are fairly ridiculous in America. Chris and Debbie Emick have two daughters—AND are well on their way to financial independence through a combination of local and long distance real estate investing coupled with frugality and conscious spending. In this episode of The BiggerPockets Money Podcast, Erin shares how she cut her grocery bill in half - while adding two more kids to the mix. He then threw everything he had into building his savings back up, taking on extra jobs, living with roommates, and cutting out everything unnecessary in his life. You'll get tips for getting your financial house in order and actionable advice from guests who have been in your shoes - and found their way out. This show provides the education you didn't get in school including tips for getting your financial house in order and actionable advice from guests who have been in your shoes - and found their way out. He was told he needed to go to college, but didn’t have the passion for higher learning that other classmates did. He decided it wasn’t and voluntarily chose to take a pay cut to work somewhere else where he was happier and had more control of…, 170: Finance Friday: Trading Debt for Cash Flow and Liquidity with Teacher Erik, Erik and his wife have three big debts to tackle: their mortgage on their primary residence, their mortgage on their rental property, and a HELOC (home equity line of credit) taken out as the down payment for their rental property. Check the full show notes here: https://www.biggerpockets.com/moneyshow187, 186: Finance Friday: Using Student Loan Forgiveness to Catapult FI w/ Sammie, Today we talk to Sammie, a physician assistant out of the San Francisco Bay Area. Now you’re stuck with a $60 total (and tip) when you only ate $10 worth of food. It was Set for Life, by our very own Scott Trench! But she’s not done! Finance Friday with Brian Blask, BiggerPockets Money Podcast 179: “The Guy Who Did Everything Wrong But Still Figured it Out” with David Pere, BiggerPockets Money Podcast 178: Finance Friday: From $33k in Debt to $100k+ in Net Worth Through House Hacking & Smart Saving with Budget Girl, BiggerPockets Money Podcast 177: Putting Yourself in the Best Financial Position as a First Time Home Buyer with Scott and Mindy. In fact, it made him decidedly unhappy. This is a great idea! lk to her about making millions! Save your money, invest it consistently, and get off the hedonic treadmill. 153: Bill Bengen (The Inventor of the 4% Rule) Talks Retirement, Past Crashes, and How You Can Withdraw Even More! In order to afford his new house, he didn’t max out his 401k—he didn’t even contribute enough to get the... 37: Paying Off Student Loan Debt with a Median Income and Two Kids in Northern California with Kyle Renke. * Having separate accounts when married/in a long-term relationship  Erin shares the basics that so many articles and podcasts gloss over - but that are so important to know in order to be financially successful. * Retire by 40 Amy & Tim discuss their House Sitting & Travel Hacking plans, and how they are on hold during this unprecedented travel lockdown. How to go on a Money Date, all about her $20 prenup and why she feels everyone should have one, her guide to combining your finances. Two years later, her net worth had grown considerably, but she was still not tracking her spending or paying attention to much of her finances. For young people who haven’t gotten a grip on finances yet, this is a great episode to hear from someone who has done it successfully for decades! * BiggerPockets Bookstore Money was an open subject of discussion in Barbara’s household, unlike most households today. Kristine may be over-budgeting for future children and other expenses, without realizing that her sizable amount of assets could compound quicker than she thinks. If you HATE the thought of learning more about that investment vehicle, you won't put forth the correct amount of effort necessary to master it. This is what she refers to as hitting her financial rock bottom. Matt Giovanisci is a serial entrepreneur. Her counselor gave her a pretty alarming statistic: a frighteningly small number of women who get pregnant in college actually end up graduating. Join Mindy Jensen and Scott Trench (from BiggerPockets.com) weekly for the BiggerPockets Money Podcast. He has rental properties that have highly appreciated, but are having cash flow problems due to COVID-19. At the time, real estate agents were eligible to take the test to open up their own brokerage simultaneously with the licensing test, so she did that. A reward trip to Hawaii after a good sales year at his... 31: How to Boost Your Income & Investments for a Faster Route to Financial Freedom. This episode gets pretty deep into topics that no one ever wants to think about, but that everyone will have to deal with, both with their parents and for their children. This is something many guests find challenging at first, but can really help allev…, 167: From Fired to FI Couple in 2 Years with Josh and Ali, Most people are told the same thing growing up, “go to college and take out a loan, get a car and take out a loan, live in a nice apartment even if it’s expensive”. He makes the numbers work, and work well, and is reaping the financial rewards of some sweat, self-education, and side-hustles so he can exit the workforce and live the life of his dreams. 36: From Childhood Poverty to Financial Freedom by Age 32 with Jillian Johnsrud, Jillian Johnsrud grew up lacking the privileges that many of us take for granted. You’ll also hear some great advice on how to find a good deal in your area. But, that wasn’t exactly what David Pere (From Military to Millionaire) did when he was first enlisted. Rachael has always been an artist and uses this talent to grow her small businesses. Through budgeting, communication, spreadsheets and more spreadsheets, they are now on the same page and working toward financial freedom. Having a will is a great first step, but there are lots of other things you can do to ease the financial transfer burden—and things you need to know before making any moves. Imagine you are friends with hundreds of real estate investors and entrepreneurs. We talk with a business owner struggling with millions of dollars in debt who was able to sell his business, re-write his career (he is now a business coach), and get a new handle on his time. For those who have money… or want more of it! ... show more, Getting a finance degree doesn’t make you a great investor or saver, that’s what Teri Slater, personal finance coach found to be true after completing her degree. He talks to high school students about house-hacking and creating cash flow so they aren’t stuck in a job they hate. Teri knows first hand how hard it can be to talk through financial situations with your partner. * Dave Ramsey's 7 Baby Steps Investing in real estate helped create enough passive income for Julien to leave his corpora…, 79: Financial Freedom Through Decades of Hard Work and Hustle with Carol Scott, Carol Scott has a successful real estate investing company that she runs with her husband, Jay. OF COURSE we talk about the checks: How much, Who is eligible, When does it arrive? With extra income coming in every month, what can Clayton do to put himself in an even stronger position than before? When she didn’t have her own money to invest, she partnered with someone who did. He also runs The Simple Startup, where he teaches children how to start their own business for free! She pulled herself out of debt and felt accomplished, but after she got married and bought her first house, she found herself back in debt. You have rental properties, brokerage accounts, and a good amount of cash on hand, so what’s next?