122: Getting Back to Financial Independence Basics - Using Lockdown to Reset Your Finances

122: Getting Back to Financial Independence Basics - Using Lockdown to Reset Your Finances

Scott and Mindy have focused on Coronavirus for the last few episodes - talking to experts about how the virus has affected the stock market, the 4% rule, and even early retirees. They’ve interviewed Financial Planners to get tips for using the current market conditions to their advantage, as well as chatted with a mortgage broker to determine the best time to refinance. In this episode, Scott and Mindy talk about lifestyle creep - and how they have both been affected over the last couple of years. They revisit the basics of Financial Independence, spending less than you earn, increasing your income, investing wisely, creating multiple sources of income, and living your best life once money has been taken care of. Using their lockdown spending as a guide, Scott and Mindy go through the steps they’ve taken and the changes they’ve made to their expenses - including what they will add back once the world reopens and what expenses they don’t miss. This episode will help you get back to your Financial Independence basics, too. In This Episode We Cover: The basics of Financial Independence Spending less than you earn How Scott and Mindy save their money How their spending changed Increasing your income Investing in low cost, quality investment vehicles Creating multiple, passive streams of income Living the life you truly love And SO much more! Links from the Show BiggerPockets Money Podcast 116 with JL Collins BiggerPockets Money Podcast 41 with Kyle Mast BiggerPockets Money Podcast 84 with Kyle Mast BiggerPockets Money Podcast 118 with Kyle Mast BiggerPockets Money Podcast 119 BiggerPockets Money Podcast 120 with Michael Kitces BiggerPockets Money Podcast 121 with Seth Jones BiggerPockets Money Podcast 03 with Erin Chase BiggerPockets Money Podcast 97 with Financial Mechanic BiggerPockets Business Podcast 51 with Nigel Guisinger Mint Something about Food Podcast Waffles on Wednesday: Make Your Own Free Mobile Expense Tracking App in 30 Minutes Real Estate Rookie Facebook Group BiggerPockets Money Facebook Page Learn more about your ad choices. Visit megaphone.fm/adchoices

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194: Finance Friday: Will I Still Be Able to Hit Retirement At 60?

194: Finance Friday: Will I Still Be Able to Hit Retirement At 60?

It’s a common concern among many Americans on whether or not they can retire on a timeline they feel comfortable with. In this episode, we talk to Deb, who’s having some of those same concerns. She ha...

7 Maj 20211h 16min

193: Building a Business After Homelessness, Addiction, and Debt

193: Building a Business After Homelessness, Addiction, and Debt

Part of the mission of the BiggerPockets Money Show is to share journeys from all walks of life. Our guests show that no matter where you’re at, you can reach financial freedom and enjoy your life on ...

3 Maj 20211h 27min

192: I Make Great Money - Why Do I Feel So Broke? Finance Friday

192: I Make Great Money - Why Do I Feel So Broke? Finance Friday

In many of our lives, we make a decent salary, we try to save and invest, but we still feel bogged down by debt. How is it possible to feel “broke” while making a great salary? That is the question th...

30 Apr 20211h 5min

191: It’s Not Your Money, It’s Your Future Self’s Money with Angela Rozmyn

191: It’s Not Your Money, It’s Your Future Self’s Money with Angela Rozmyn

Many of us have had the benefit of growing up in households where our parents taught us about money, saving, and investing. Angela Rozmyn was raised in one of these households, and when she wanted som...

26 Apr 20211h

190: Why You Should Always Have Side-Income: Finance Friday with Rachael

190: Why You Should Always Have Side-Income: Finance Friday with Rachael

Side businesses can be a fantastic way to boost your savings and investing rates, especially if you’re making a low salary! Rachael works in the insurance industry and is keen on getting a promotion s...

23 Apr 20211h 1min

189: Revenge Spending: How It’s Sabotaging Your Financial Relationship

189: Revenge Spending: How It’s Sabotaging Your Financial Relationship

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. From a relatively early stage, Teri h...

19 Apr 20211h 4min

188: Finance Friday: Is A Master's Degree Worth The Pay Raise?

188: Finance Friday: Is A Master's Degree Worth The Pay Raise?

Being strapped with student debt isn’t easy. It creates a whole new obstacle to hitting financial freedom, but it can be mitigated. So does it make sense to invest on the side and pay the regular mont...

16 Apr 202157min

187: Tiffany Aliche's 10 Financial Components to Become 'Financially Whole'

187: Tiffany Aliche's 10 Financial Components to Become 'Financially Whole'

Tiffany Aliche is back for her third appearance on the BiggerPockets Money Show! We’ve talked to her about how to teach your children about money and climbing out from financial rock bottom, now we ta...

12 Apr 20211h 28min

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