BiggerPockets Money Podcast7 Dec 2020

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? That was the start of Allison Baggerly’s journey into budgeting and saving. As a big spender in college, Allison didn’t see a real reason to save instead of spend. She would take herself on frequent trips to the mall to treat herself when she aced a test, or make herself feel better if she flunked one. It wasn’t until her first son was born that her and her husband realized they wouldn’t have enough in the budget to pay for childcare costs, and thus, the Inspired Budget was born! After a few years of limited spending and frequent budget analyzing, Allison and her Husband paid off over $110,000+ in debt and are now on their way to financial abundance. Allison talks about the importance of giving yourself spending, investing, and saving allowances and how you don’t need to sacrifice everything to become financially safe! In This Episode We Cover The importance of setting budgets early on in life (and keeping up with them) Changing the “how much do I have to spend” mindset into a “how much do I have to save” way of thinking Why you need to own your relationship with money How to have financial talks with your partner (even when it’s awkward) Why you need spending allowances so you can enjoy your money Why investing isn’t a linear path, but a rollercoaster (and why the dips don’t define you!) Refusing the mental trap of “I can’t be rich” while being at a low-income job And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Check the full show notes here: https://www.biggerpockets.com/moneyshow154 Learn more about your ad choices. Visit megaphone.fm/adchoices

Det här avsnittet är hämtat från ett öppet RSS-flöde och publiceras inte av Podme. Det kan innehålla reklam.

Avsnitt(773)

Should You Choose Coast FI or Go All In on FIRE?

Is Coast FI the smarter path to financial independence in today's economy? In this episode, Scott Trench and Evan Lawler compare Coast FI vs. traditional FIRE, breaking down the trade-offs between rea...

15 Juli 38min

The Money Guys Help us Escape Our 401k Tax Trap

In this special episode of the BiggerPockets Money Podcast, Mindy Jensen and her husband Carl head to The Money Guy Show studio for a comprehensive portfolio review with Brian Preston and Bo Hanson. A...

14 Juli 1h 29min

Is My Spending Reasonable? This Data Set Will Tell You

Are you actually spending too much, or does it just feel that way because of where you live? In this episode of the BiggerPockets Money Podcast, Mindy Jensen and Scott Trench break down a new budget b...

10 Juli 36min

Why $500K Is More Important Than $1 Million (Coast FIRE)

Is $500,000 actually a more important financial milestone than becoming a millionaire? In this episode of the BiggerPockets Money Podcast, Mindy Jensen sits down with Evan Lawler to explore why reachi...

8 Juli 38min

Should You Stay for the Military Pension? The Math Might Surprise You

Military service offers more financial advantages than most Americans realize, but is staying for a 20-year pension always the smartest move? In this episode of the BiggerPockets Money Podcast, Mindy...

7 Juli 1h 2min

The Best Early Retirement Withdrawal Strategy (6 Proven Frameworks)

Reaching financial independence is only half the battle, knowing how to withdraw your money in early retirement is just as important. The right withdrawal strategy can help you minimize taxes, avoid u...

3 Juli 42min

Has the FIRE Number Gone from $1M to $2.5M?

In this episode of the BiggerPockets Money podcast, Mindy Jensen and Scott Trench tackle one of the biggest questions in the FIRE movement: Why has the traditional $1 million FIRE goal grown to $2.5 m...

30 Juni 38min

Is Investing Ethical? How to Invest Without Compromising Your Values

Is investing ethical? Can you build wealth, pursue financial independence, and still invest according to your values? Scott and Mindy tackle one of the biggest questions in personal finance, exploring...

26 Juni 25min