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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3078:
Most of us aiming for financial independence don’t live in luxury, but what truly counts as a luxury? Darrow Kirkpatrick challenges the idea that luxuries are inherently bad, arguing instead that they should be evaluated based on their function, personal value, and overall cost. By asking whether an expense is optional, meaningful, and affordable, we can make smarter financial choices, prioritizing what genuinely enriches our lives without falling into the trap of unnecessary spending.
Read along with the original article(s) here: https://www.caniretireyet.com/luxury-or-essential/
Quotes to ponder:
"A luxury is 'something inessential, but conducive to pleasure and comfort.'"
"The problem is when you develop habits to the point that expensive luxuries become necessities, or you want them in all areas of your life."
"When you spend money, you choose consumption today over the lifetime of interest income you’d achieve from investing it instead."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3077:
Investing for an 8% return is a long-term game, not a short-term guarantee. ESI of ESIMoney.com explains why this rate is a reasonable expectation for stock index fund investors over a decade or more, despite market fluctuations. He also shares his personal experience earning 10% or more through real estate and how staying consistent with low-cost index funds gives the best chance at solid returns.
Read along with the original article(s) here: https://esimoney.com/can-get-8-investment-return/
Quotes to ponder:
"There’s a big difference between making 8% on your money ‘at a time like this’ and making 8% on your money over a 10-15 year period."
"You can give yourself the best opportunity to maximize investment returns by putting your money in low-cost index funds."
"No one knows! Investing is inherently risky, so you do it hoping for a good return but knowing you might lose everything."
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Saknas det avsnitt?
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3076:
Cutting back on small luxuries can help, but real financial freedom often requires big, bold changes. Cynthia Meyer shares how she tackled overwhelming debt by downsizing her living space, rethinking entertainment expenses, and even giving up her car, saving over $1,200 per month in the process. Her story proves that by making intentional sacrifices, you can accelerate debt repayment and reclaim your financial future.
Read along with the original article(s) here: https://www.financialfinesse.com/2017/07/03/would-you-go-this-far-to-pay-off-your-debt/
Quotes to ponder:
"That’s when I decided that only making drastic changes would get the outsized results I was seeking."
"Consider making some big changes to climb that debt mountain faster. Trust me, you’ll feel great when you get to the top and look around at how far you’ve come."
"There is a secret financial power in home cooking!"
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3075:
Conventional financial wisdom doesn’t always apply universally. The article challenges common money advice by exploring real-life examples where “bad” financial decisions - like keeping a mortgage instead of paying it off early - led to positive outcomes. By highlighting the importance of context, adaptability, and personal financial goals, it encourages readers to think critically rather than blindly following mainstream advice.
Read along with the original article(s) here: https://affordanything.com/2013/05/21/bad-financial-advice-but-it-worked-for-me
Quotes to ponder:
"This is why I distrust financial guidelines that assume one-size-fits-all."
"Just because it worked for one person doesn’t mean it will work for everyone."
"People have different risk tolerances, personalities, and opportunities."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3074:
Fitness trackers can be a great short-term motivator for increasing daily movement, but their accuracy varies depending on the activity. While they reliably estimate step count and heart rate, they tend to miscalculate calories burned, sleep duration, and travel distances. To maintain motivation beyond the initial excitement, incorporating challenges, friendly competitions, or group tracking can help sustain engagement.
Quotes to ponder:
"Most fitness trackers are pretty good about estimating the number of steps you take each day, but when it comes to estimating the number of calories burned, they tend to underestimate."
"It turns out that fitness trackers do keep folks motivated but in the short term."
"If purchasing a fitness tracker helps someone go from exercising sporadically to becoming more committed and consistent, even in the short term, then by all means, it’s worth it."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3073:
Learning to talk openly about money and align financial goals can transform a relationship. Leo Babauta outlines six key steps to achieving financial harmony with your partner, from discussing values and removing emotions from money talks to creating a plan and holding regular financial meetings. By staying positive, honest, and team-oriented, couples can build a strong financial foundation that supports both their individual and shared dreams.
Read along with the original article(s) here: https://zenhabits.net/six-steps-to-healthy-finances-in-your-relationship
Quotes to ponder:
"We can tell our values by looking at our checkbook stubs."
"If that’s what makes the other person happy, you should want to make them happy - that’s the basis of a good relationship."
"Team members can help each other out and encourage each other, or they can rip the team apart by being negative, by blaming, by working against common goals."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3072:
A well-deserved raise isn't just about asking, it’s about asking the right way. Emily Guy Birken breaks down a strategic approach to salary negotiations, from researching market value and proving your worth to timing your request wisely and handling a potential "no" with confidence. Mastering this skill can set you up for long-term financial growth and career satisfaction.
Read along with the original article(s) here: https://ptmoney.com/how-to-ask-for-a-raise/
Quotes to ponder:
"They can’t shoot you for asking."
"The best time to ask for a raise is right after you have just done something great for the company, such as solving a big problem, landing a major client, or saving the company money."
"It can be easy to procrastinate for months (or even years!) if you’re uncomfortable selling yourself, but no one else is going to advocate for you."
Episode references:
Glassdoor: https://www.glassdoor.com
Salary.com: https://www.salary.com
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3071:
Achieving financial independence is a dream for many, but common pitfalls can derail progress. Chris Panteli highlights five key reasons people fail to reach this goal: lack of genuine commitment, insufficient financial knowledge, reliance on stagnant cash savings, fear of taking risks, and impatience. By recognizing these obstacles early and taking proactive steps, you can stay on track toward financial freedom.
Read along with the original article(s) here: https://www.fiology.com/you-wont-reach-financial-independence/
Quotes to ponder:
"You lose money thanks to inflation. This is a concept you must understand if you are to be financially independent."
"To make money that helps you become financially independent will mean taking some risks. If you are not prepared to take any risk, then you aren’t going to achieve your goals."
"Patience, consistency, willpower, and hard work are just some of the traits you need to cultivate."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3070:
Trying to stay under the radar with your financial success? It might not be as simple as it seems. This article explores the unintended consequences of stealth wealth - how hiding your prosperity can lead to isolation, distrust, and missed opportunities for meaningful connection.
Fear can be a powerful force, shaping our decisions and holding us back from opportunities. This article examines how financial fears - whether of loss, failure, or even success - can create invisible barriers that limit growth. By recognizing and confronting these fears, we can push past hesitation and build a more secure and fulfilling financial future.
Read along with the original article(s) here: https://www.earnandinvest.com/blog/stealthwealthfail AND https://www.earnandinvest.com/blog/the-wall-of-fear
Quotes to ponder:
"Hiding your wealth may protect you from jealousy and unwanted attention, but it can also create barriers between you and those you care about."
"Authenticity matters more than secrecy - real relationships thrive on trust, not carefully managed illusions."
"Fear builds walls that keep us from taking risks, but those same walls can also trap us in stagnation."
"Every major financial decision comes with uncertainty, but letting fear dictate your choices means giving up control of your future."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3069:
Rebuilding your finances after bankruptcy is challenging, but it’s also an opportunity for a fresh start. Kalen Bruce outlines practical steps to regain control, from tracking expenses and cutting non-essential spending to leveraging budgeting tools and creating a sustainable financial plan. By taking a proactive approach, you can turn past financial struggles into a foundation for long-term stability.
Read along with the original article(s) here: https://moneyminiblog.com/budgeting/budget-after-bankruptcy/
Quotes to ponder:
"Once your debts have been forgiven, you need to make sure you don’t fall back into debt."
"If there is any practice that can answer the question of how to rebuild finances after bankruptcy, it is budgeting."
"Look at your financial situation as a positive, clean slate, rather than feeling sorry over your previous financial failings."
Episode references:
FI Healthcare: https://fihealthcare.com
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3068:
Taking financial risks wisely can be a game-changer for building long-term wealth. Vicki Cook and Amy Blacklock break down how to educate yourself on investing, assess your risk tolerance, and make informed decisions that align with your financial goals. By continuously learning and adjusting your strategy over time, you can confidently embrace risk without fear, allowing you to grow your wealth while maintaining financial security.
Read along with the original article(s) here: https://womenwhomoney.com/why-is-taking-some-financial-risk-important/
Quotes to ponder:
"You don’t want to become so comfortable with your investment decisions that you fail to reconsider what 'risk' means to you over time."
"If a conservative approach helps you sleep better at night, investing more money for a lengthier period will build wealth too."
"Your mindset will shift over time, from being fearful to courageously taking more risks."
Episode references:
University of Missouri Risk Tolerance Assessment: https://pfp.missouri.edu/research/investment-risk-tolerance-assessment
The Simple Path to Wealth: https://www.amazon.com/Simple-Path-Wealth-Financial-Independence/dp/1533667926
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3067:
Vicki Cook & Amy Blacklock emphasize that controlling your finances is key to securing your future, but simply saving money isn’t enough to build long-term wealth. Inflation erodes purchasing power, making it essential to take calculated financial risks for better returns. By understanding risk tolerance, diversifying investments, and aligning strategies with financial goals, even risk-averse individuals can grow their net worth while maintaining financial security.
Read along with the original article(s) here: https://womenwhomoney.com/why-is-taking-some-financial-risk-important/
Quotes to ponder:
"While a savings account or CD seems like a low-risk money move, losing buying power over time is still risky."
"Putting all your (financial) eggs in one basket isn’t a wise thing to do."
"If you can’t risk losing any of your money, you should reconsider your plan to invest."
Episode references:
Financial Industry Regulatory Authority (FINRA): https://www.finra.org
U.S. Securities and Exchange Commission’s Investor.gov: https://www.investor.gov
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3066:
Colin Wright explores the concept of a first principles lifestyle, applying the philosophical approach of breaking ideas down to their fundamental truths. By questioning societal assumptions and inherited beliefs, he advocates for intentional living based on personal values rather than external expectations. This method encourages deep self-discovery, helping individuals build a life that aligns with their true priorities rather than cultural norms.
Read along with the original article(s) here: https://exilelifestyle.com/principles-lifestyle/
Quotes to ponder:
“All men are mortal, Socrates is a man, therefore Socrates is mortal.”
“Everything is impossible until it’s achieved, and this way of seeing things encourages shrugging off common knowledge in favor of fundamental assessment.”
“A first principles lifestyle is focused on those underlying concerns and ideals and goals.”
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Episode 3065:
Personal finance is all about making smart sacrifices today to reap financial security tomorrow. Honey Smith explores how strategies like saving for retirement, maintaining an emergency fund, and paying off debt help build lasting wealth, even when they seem like tough choices in the short term. By prioritizing financial well-being and making intentional decisions, you can create a more stable and rewarding future.
Read along with the original article(s) here: https://www.getrichslowly.org/personal-finance-and-the-long-game/
Quotes to ponder:
"Personal finance is about making choices that are harder in the short term for the good of the long term."
"By maintaining a reasonable balance in liquid vehicles, you decide that losing out on some dividends or interest is a smarter choice than paying interest to a credit card company when emergency strikes."
"Perhaps the biggest trick to the long game is realizing that you can't do everything at once. As the saying goes, you can have anything you want, but you can't have everything you want."
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Episode 3064:
Budgeting doesn’t have to feel restrictive or complicated. Kumiko of The Budget Mom breaks down four common myths that hold people back from taking control of their finances, debunking the idea that budgeting is boring, too much math, or unnecessary. With a simple mindset shift, a budget can become a tool for financial freedom, allowing you to plan for both your needs and wants while creating a future that aligns with your goals.
Read along with the original article(s) here: https://www.thebudgetmom.com/budgeting-lies-vs-truths/
Quotes to ponder:
"If budgeting isn’t fun, you are completely doing it wrong."
"You have to look at budgeting as something that allows you to spend the money you do have on the things that matter most and are the most important to you."
"Your budget is a plan, a guide on how you should spend your future dollars."
Episode references:
Equity Trust: https://www.InvestorUnleashed.com/optimal
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3063:
Life is never without challenges, and waiting for a perfectly smooth path is an illusion. Alacias Enger explores the power of radical acceptance, letting go of resistance, and embracing the unexpected to grow into our fullest selves. By cultivating financial stability and a mindset of flow rather than fear, we can navigate life's inevitable hurdles with resilience and grace.
Read along with the original article(s) here: http://www.mysensewithcents.com/2021/11/theres-always-going-to-be-something.html
Quotes to ponder:
"Saying yes to Reality in any given moment so what’s needed can come next."
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3062:
FIRECracker reflects on a potential health scare and shares the top regrets of the dying, reminding us that wealth, status, and possessions are meaningless if they come at the cost of authentic living. True freedom comes from financial independence, but even more so from the courage to pursue dreams, prioritize relationships, and embrace happiness before it’s too late.
Read along with the original article(s) here: https://www.millennial-revolution.com/freedom/live-life-no-regrets/
Quotes to ponder:
"I wish I’d had the courage to live a life true to myself, not the life others expected of me."
"I wish I hadn’t worked so hard."
"I wish that I had let myself be happier."
Episode references:
Your Money or Your Life: https://www.amazon.com/Your-Money-Life-Transforming-Relationship/dp/0143115766
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3061:
Michelle Schroeder-Gardner highlights seven common purchases, including furniture, weddings, medical bills, and vacations, that should never be charged unless you can pay them off in full immediately. Avoiding these costly mistakes can help you stay in control of your finances and prevent unnecessary stress.
Read along with the original article(s) here: https://www.makingsenseofcents.com/2015/11/expenses-to-never-put-on-a-credit-card-finance-furniture.html
Quotes to ponder:
"Just because the monthly payment seems 'doable,' it doesn’t mean that it’s what’s best for you."
"Wedding debt can cause arguments, stress, financial problems, and more."
"A vacation is supposed to be that - a vacation. I couldn’t imagine that a vacation would be relaxing at all if you were paying interest on it for months or years to come."
Episode references:
The EconoMe Conference YouTube Channel: https://www.youtube.com/@EconoMeConference
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3060:
Tracking every purchase and asking three simple questions can revolutionize your spending habits. Kalen Bruce highlights the power of intentionality in finances, encouraging mindfulness about whether a purchase is necessary, if there’s a more cost-effective way to buy it, and if quality should be prioritized. By applying this approach to everything from groceries to major expenses like housing and insurance, you can reduce wasteful spending and improve your financial well-being.
Read along with the original article(s) here: https://freedomsprout.com/intentional-spending/
Quotes to ponder:
"This is a way to stop that. Basically, you’re going to track everything you buy, just like you would when you start budgeting, but you’re going to actually talk about every single purchase."
"It pays to spend more on quality, whether for your health or for your wallet. Or both."
"If you’re intentional about the things you’re spending your money on, you’re going to spend less and spend on the right things - improving your financial health."
Episode references:
Intentional Children: https://www.amazon.com/Intentional-Children-Raising-Money-Smart-Intention/dp/1734973439
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3059:
Jeff Rose reflects on his father's financial struggles, revealing how stress from debt contributed to his declining well-being and ultimate passing. By recognizing warning signs like constant financial anxiety, relying on credit to pay off credit, and frequently borrowing money, we can step in to help loved ones break the cycle before it's too late.
Read along with the original article(s) here: https://www.goodfinancialcents.com/dear-dad-why-did-you-let-debt-kill-you/
Quotes to ponder:
"It wasn’t his heart alone that killed him, it was his debt."
"If someone is using one credit card to pay the minimum payment on another, or taking out a cash advance on a card to make a payment, there are multiple problems."
"Don’t wait or sit back silently, hoping something will change. Become an agent of change. When you see the warning signs, speak up."
Episode references:
You Need a Budget App: https://www.youneedabudget.com
Soldier of Finance: https://www.amazon.com/Soldier-Finance-Charge-Invest-Future/dp/0814433286
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