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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82: Early Money Lessons Create Healthy Money Experiences with Aditi Shekar

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. She’s been creating businesses ever since. Her father’s advice wasn...

22 Juli 201958min

81: The Basics of Investing with Erin Lowry from Broke Millennial

81: The Basics of Investing with Erin Lowry from Broke Millennial

Erin Lowry last joined us on Episode 24 of the BiggerPockets Money Podcast, where she talked about getting Financially Naked with your partner. She’s back today to talk about investing - and all the t...

15 Juli 201956min

What’s Your Why of FI?: Recorded Live at CampFI

What’s Your Why of FI?: Recorded Live at CampFI

This Bonus Episode of The Money Podcast was recorded live at CampFI, a financial independence retreat for people on all parts of the journey to Financial Independence. Scott Trench was celebrating his...

13 Juli 201950min

80: Managing Money: How a Saver & a Spender Are Living Happily Ever After with Rich & Regular

80: Managing Money: How a Saver & a Spender Are Living Happily Ever After with Rich & Regular

Kiersten and Julien came from two very different money backgrounds. She’s the naturally spendy one, and he’s the natural saver. Their money views came to a head on their first vacation, when she put e...

8 Juli 20191h 2min

79:  Financial Freedom Through Decades of Hard Work and Hustle with Carol Scott

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. They have two children, live where they want, and just in general enjoy life on their own terms, free fr...

1 Juli 20191h 7min

78: How to Talk to Your Parents About Money with Cameron Huddleston

78: How to Talk to Your Parents About Money with Cameron Huddleston

Parents are supposed to know everything, and talking about money is impolite. So how do you make sure your parents are taken care of and that their wishes are followed throughout their golden years? T...

24 Juni 20191h 7min

77: Entrepreneuring Your Way To Financial Freedom with Pete Mockaitis

77: Entrepreneuring Your Way To Financial Freedom with Pete Mockaitis

Pete Mockaitis grew up in the cheapest place to live, Danville, IL. He watched his mother work her way up the local credit union ladder from teller to CEO, simply by doing more than necessary, repeate...

17 Juni 201957min

76: How to Talk to Your Partner About Money With the Debt Free Guys

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. They both worked in the financial industry, and each thought the other would be great with money. About a year and a half in, they discovered th...

10 Juni 20191h 17min

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