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 soon, due to her recently acquired license. She loves her work and wants to stay with her company as long as she can, but she also wants to increase her income so she can save more for her retirement, her college funds, and pay off some student debt. Rachael has always been an artist and uses this talent to grow her small businesses. She hosts “painting parties” where she leads a group of people through painting a beautiful picture. She also has some designs that she sells over printing websites so people can buy them as mugs, mousepads, tee-shirts, and more. She does have a few things to cut out of her life, such as a very expensive mobile phone bill for her and her sons, as well as a love for eating out. Mindy and Scott’s advice is to start tracking expenses as soon as possible and get rid of her delivery app membership right away! In This Episode We Cover Why side-income streams are so important when building wealth Combining or keeping finances separate when in a marriage Why you shouldn’t liquidate your retirement savings before a divorce Cutting down eating out and making it easier to eat at home Saving on mobile service by going with a prepaid service And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

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10 Feb 58min

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6 Feb 1h 7min

How We Built a $1M Net Worth by 32 (Step-by-Step Breakdown)

How We Built a $1M Net Worth by 32 (Step-by-Step Breakdown)

Trevor and his wife reached a $1 million net worth by age 32 and are on track to achieve financial independence well before 40. In this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen a...

3 Feb 55min

The 4% Rule Was Never Designed for FIRE’s Healthcare Reality

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The 4% rule has a major flaw: it doesn't account for healthcare costs. If you're planning to retire early, health insurance premiums will rise sharply as you age—from your 30s through your 60s before ...

30 Jan 57min

The Major MONEY Milestones To Hit By EVERY Decade!

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27 Jan 47min

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