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There are secondary costs associated with almost all purchases that we make in our lives. It’s important to consider all of these additional costs that tag along when making purchases, and not just the initial sticker price. In this episode we explain how there are hard secondary costs and then how there are soft or lifestyle secondary costs which are similar to lifestyle creep. And then finally, we go over some helpful and specific tips to remember when making purchases or financial...

Money oftentimes feels like a topic that is off-limits when it comes to discussions you have with your friends. Is it because it’s too personal? Maybe you feel it’s none of your business? A big part of why we started How to Money is because we feel that money conversations need to happen more often. Talking about money shines a light on it and brings about awareness, which can ultimately lead to improvement as we all have room to grow. Listen as we discuss some of the major ways you’re...

Buying new stuff makes us happy, right? Yeah for a minute, but you may have noticed how quickly you get used to all that new stuff! Hedonic adaptation, or the hedonic treadmill, helps us understand the effect of consumption. Coming to grips with that can help us end unhealthy cycles of mindless consumerism and set us on a path to a healthier way of thinking about money, spending, and saving for the future. Listen to the full episode to learn how hedonic adaptation can be terrible, how it...

Shopping and overspending dominates the holiday season, and we want to make sure you’re not rolling into the new year with that holiday shopping hangover. Honestly, how much more stuff do we really need?! Consumers are expected to spend over 1 trillion dollars during this Christmas shopping season. It’s unfortunate how much emphasis is placed on high ticket gifts to supposedly prove how much you care. Listen as we cover some overall strategies that will help you become a better gift giver,...

New name, new look, and even new music- but deep down at the heart of it, we're still the same personal finance podcast! In this trailer, we're introducing How to Money, where every week we choose a money topic and have a conversation connecting that topic to you our listeners. So if you're ready to stop sucking at money or if you just want to come nerd out with us, be sure and tap that subscribe button! Learn more about advertising on the HowStuffWorks podcasts at...

You’ve gone through all the hard work of saving your money for a down payment, you’ve spent countless hours searching for the right investment property, and now it’s time to find the right tenant! It can be pretty tempting to cut some corners on that last step, but the type of tenant who signs your lease can be the difference between that rental being a blessing or a curse. The good news is that as a landlord, it’s much easier than you think it is to take the right steps to ensure that you...

Nobody ever wants to be called cheap- it’s an insult and brings all sorts of negative connotations with it. However, being frugal is a badge of honor and something worth striving towards. There is a temptation to become cheap when you are looking to get your finances in order, but instead we would encourage frugality over being a cheapskate. In this episode we break down the differences between the two as well as share some stories from when we’ve attempted to be frugal but it ended with...

Over half of Americans don’t have a will- and this is a huge problem. You might think you don’t really need a will, but if you have any assets, a spouse, or kids you most definitely do. Wills aren’t just for old people! Most often people feel that they can always put it off until a little bit later, but the best time to go ahead and create a will is right now. It can be an unsettling topic as most folks don’t enjoy talking about their mortality, but having the peace of mind in knowing that...

Imagine that you have a well paying job but otherwise it sucks and you wish you could leave. And now imagine that an amazing opportunity comes along for you to start your dream business- that thing you’ve always wanted to do, but the problem is that you know you won’t be able to pay yourself for a solid year. What you need is peace out money to keep you afloat! Or maybe some family or health issues have come up and you want to be able to spend time with family, or maybe you just want to...

Most folks are paying more than twice as much as they need to for cell phone service! The biggest reason for that is because they haven't shopped around- they're blindly paying the overpriced plans from 5 years ago. The average monthly cell phone bill is $73 and by the end of this episode, you’ll know how to get that down drastically- closer to the $25 per month mark which is the new golden standard. Plus, you’ll be able to do that without having to be on a massive friends and family plan...

The newest iPhones that were just released are anywhere from $1,000 to $1,500 - that is a ton of money!!! With all the different functions and duties that our smartphones are able to perform, it’s no surprise that the prices are continuing to climb but don't pay full price! Regardless if you’re getting the latest and greatest iPhone release, or if you’re buying last year’s Moto, you want to be getting a deal. In this episode we cover a bunch of different ways to save on your phone upgrade...

After the Equifax data breach where 148 million people’s personal information was compromised, it's especially easy to see how vulnerable we are as consumers. So now more than ever, is the time to freeze your credit! A new federal law has made it completely free to freeze and thaw your credit, so you don't have any more excuses. In this episode we talk about why this is so important, we cover what a freeze does (and what it doesn't do), and then we tell you exactly how to do it. Seriously...

You feel rich! The stock market is up and you might be wondering if now is the time to sell. Even if you don’t keep up with any financial news, you’ve likely heard how we’re in the longest running, bull market in US history. Your investment portfolio is looking pretty fat because you’ve purchased low and now it’s time to sell high- that’s how the old adage goes right? Or at the very least maybe you shouldn’t continue to invest because we’re at the peak, the top of the market, right? But...

Let's talk about lesser known credit card benefits! Did you know that with a credit card you might already use, you have access to $600 worth of cell phone insurance that is already baked into the card? Or that some credit cards will reimburse you up to $500 if something you purchased drops in price and you make a claim within 90 days? There are countless hidden benefits that credit cards offer- and you need to know they even exist before you can benefit from them so be sure to have a...

Who doesn’t want to earn more money?! In a time where we’ve seen wage growth stagnation, workers want to make more or in some cases, they can’t seem to get out of the cycle of living from paycheck to paycheck. Side hustles are the answer! There are lots of pros and cons which we cover, but not all side hustles are created equal. In our new sharing or gig economy, oftentimes the default response to just go drive for Uber or Lyft, or even charge Bird scooters- but we argue that these are dead...

Americans spend WAY too much on groceries! After housing and transportation, we spend more money on food than anything else- close to 15% of our expenses. On a recent episode Matt mentioned how his family eats on $1 per person per meal, and so we figured it was time to spend an entire episode discussing how you can cut your grocery bill like crazy! If you’re not really into cooking we give some very easy and helpful tips that you can start trying out today, but we also talk about some more...

Americans spend WAY too much on groceries! After housing and transportation, we spend more money on food than anything else- close to 15% of our expenses. On a recent episode Matt mentioned how his family eats on $1 per person per meal, and so we figured it was time to spend an entire episode discussing how you can cut your grocery bill like crazy! If you’re not really into cooking we give some very easy and helpful tips that you can start trying out today, but we also talk about some more...

Financial independence - what does that even mean and should you be pursuing it?! Chances are you've heard us mention it before on the show, but we finally dedicate an entire episode to what financial independence is all about. We also discuss what it's NOT all about. For instance, is retirement the same thing as financial independence? Be sure to listen to the entire episode and you'll be able to easily calculate when you'll be financially independent. And at the beginning of this episode...

Financial independence - what does that even mean and should you be pursuing it?! Chances are you've heard us mention it before on the show, but we finally dedicate an entire episode to what financial independence is all about. We also discuss what it's NOT all about. For instance, is retirement the same thing as financial independence? Be sure to listen to the entire episode and you'll be able to easily calculate when you'll be financially independent. And at the beginning of this episode...

Nobody ever talks about life insurance, so naturally, we’re doing an episode on it! While likely the least sexy aspect of personal finance, it’s incredibly important- especially if you have loved ones who are dependent on you, and the income you earn. This week we’re answering a listener’s question as he specifically asks if he has enough life insurance in place, as well as how important is his age when it comes to his annual premiums. These are some awesome questions (thanks Josh) so listen...