The Winenance Show: Recent Episodes
Winenance
Are you ready to transform your life through your finances? Join sisters and personal finance educators, Marie & Stephanie, as they teach you how to spend more intentionally, grow and build wealth, and live a life of financial freedom. This is a judgement-free space where we walk about overcoming financial shame, paying off debt, investing to build wealth, and live our fullest, happiest lives. Together, we'll stay on track and achieve financial independence!
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This episode we have some holiday fun recapping some of our most favorite episodes of this season and discuss all the ways that Winenance Wednesday has helped you stop spending, grow wealth, and live more intentionally | Season 2 Recap of Winenance Wednesday: Episode 12 time codes: 0:00 - Intro 2:20 - Topic introduction 3:13 - Episode 4: Tracking Your Expenses 6:30 - Episode 8: Why Small Expense can be your Biggest Expenses 8:13 - Episode 9: Qube Money 11:30 - Episode 2: How to Grow Wealth in Your 401K 15:57 - Episode 5: Simple Investing with Index Funds 18:18 - Episodes 6: All Things HSA 22:10 - Episode 10: Investing in Your HSA 25:30 - Episode 3: Living Intentionally Through Financial Independence 32:36 - Episode 11: Time Ownership & Why FIRE Isn’t about the Money 41:30 - Connect with Winenance!
Frustrated by an overly complicated 401k? Get our 401K Guide! It's a step-by-step "how to" for your 401K/403B/457B: https://winenancefi.com/401k 2021 Workshops Coming! Sign up for our mailing list to be notified about our upcoming workshops, including our Building Wealth in Your 401K Workshop: www.winenanefi.com ----------------------------------------------------- OUR FAVORITE MONEY TOOLS Qube: https://winenancefi.com/qube Use code WINENANCE25 for 25% off lifetime memberships through 12/31/20 Personal Capital: https://winenancefi.com/PC Mint: https://www.mint.com/ Clarity: https://app.claritymoney.com/?_branch_match_id=675862243786853888 YNAB: https://www.youneedabudget.com/ ----------------------------------------------------- FOLLOW WINENANCE Blog: https://winenancefi.com/blog Instagram: https://instagram.com/winenance Facebook: https://facebook.com/winenance Pinterest: https://pinterest.com/winenance Check out our website - https://winenanceFI.com ----------------------------------------------------- Music: Merengue de Limon (Quincas Moreira) ----------------------------------------------------- Join the Winenance community and get exclusive money tips that we don’t share on social media straight to your inbox: https://bit.ly/Winenance2 ----------------------------------------------------- DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide we may receive a small commission. There is no additional charge to you! Thank you for supporting Winenance so we can continue to provide you with free content each week!
Send in a voice message: https://anchor.fm/winenance/message Support this podcast: https://anchor.fm/winenance/support
Time - truly the most valuable asset we all have. So who owns your time? Do you work a 9-5 job (or even multiple jobs)? Are you in school working towards a degree for a future career? We all like to think that we are the masters of our time, but the reality may be quite different. When people first hear about the FIRE Movement (Financial Independence Retire Early), they think the money is the key, the solution to all their problems. But in reality, it’s about the freedom and opportunity to get back the one thing that we all want - more time.
SHOW NOTES: www.winenancefi.com/post/episode-11
In Episode 11, we discuss:
1) What Is Time Ownership?
2) Trading Your Time for Money
3) How to Own Your Time Today
4) Reclaiming Your Time...Through Financial Independence
TIMECODES
0:00 - Intro
1:32 - What is Time Ownership
4:45 - Time is your most valuable asset
6:19 - Money Mindset is a Time Mindset
7:03 - Who Owns Your Time?
9:30 - When last did you own your time?
14:42 - How you can live your post-FI life today
16:43 - It's money about money; it's about time
17:15 - Do what brings you joy - today
21:07 - Prioritizing your joy
26:00 - Creating time boundaries at work
27:00 - Reclaiming your time with FI/RE
29:12 - Fulfilling work is the goal (whether paid or not)
32:00 - What are you retiring TO? (Why of FI)
35:09 - Finding purpose in work
37:43 - Monetizing your passions / New income streams
41:10 - Recap
Frustrated by an overly complicated 401k? Get our 401K Guide! It's a step-by-step "how to" for your 401K/403B/457B: https://winenancefi.com/401k
2021 Workshops Coming! Sign up for our mailing list to be notified about our upcoming workshops, including our Building Wealth in Your 401K Workshop: www.winenancefi.com
OUR FAVORITE MONEY TOOLS
Qube: https://winenancefi.com/qube Use code WINENANCE25 for 25% off lifetime memberships through 12/31/20
Personal Capital: https://winenancefi.com/PC
Mint: https://www.mint.com/
Clarity: https://app.claritymoney.com/?_branch_match_id=675862243786853888
YNAB: https://www.youneedabudget.com/
FOLLOW WINENANCE
Blog: https://winenancefi.com/blog
Instagram: https://instagram.com/winenance
Facebook: https://facebook.com/winenance
Pinterest: https://pinterest.com/winenance
Check out our website - https://winenanceFI.com
Music: Merengue de Limon (Quincas Moreira)
Join the Winenance community and get exclusive money tips that we don’t share on social media straight to your inbox: https://bit.ly/Winenance2 -----------------------------------------------------
DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide we may receive a small commission. There is no additional charge to you! Thank you for supporting Winenance so we can continue to provide you with free content each week!
Send in a voice message: https://anchor.fm/winenance/message Support this podcast: https://anchor.fm/winenance/support
Episode 10 | This is part 2 of our series on HSAs (Health Savings Accounts). Watch episode 6 for part 1: https://www.youtube.com/watch?v=qgAfS3sOqO4
In this episode, you'll learn how to invest in your HSA, and specifically:
1.) How many HSA banks allow you to invest your contributions tax free
2.) How you can open your own self-directed HSA, even if you already have one with your employer
3.) About unlimited annual trustee to trustee transfers (direct HSA to HSA transfers)
4.) How HSAs can be used like Traditional IRAs after age 65
SHOW NOTES: https://www.winenancefi.com/post/episode-10
Have questions about your HSA? Email us at info@winenancefi.com!
TIMECODES
0:00 - Intro
2:21 - Topic Intro
3:24 - HSA Part 1 Recap (Ep. 6: https://www.youtube.com/watch?v=qgAfS3sOqO4)
6:25 - CARES Act Rules for HSAs & FSAs
7:43 - FSA vs. HSA
8:51 - HSA as an investment account
11:51 - Investment options & fees with HSAs
14:40 - How to Invest in Your HSA
18:00 - Trustee to trustee (in-service) transfers
21:25 - Tracking your medical expenses
23:15 - What happens if you have more money in your HSA than medical expenses
26:00 - Why Stephanie loves her HSA
27:41 - Choosing investments for your HSA (Ep. 5: https://www.youtube.com/watch?v=qgAfS3sOqO4)
36:47 - Episode recap
38:42 - Episode 11: Who Owns Your Time
Get our 401K Guide! It's a step-by-step "how to" for your 401K/403B/457B: https://winenancefi.com/401k
OUR FAVORITE MONEY TOOLS Q
ube Money: https://winenancefi.com/qube Use code WINENANCE25 for 25% off lifetime memberships through 12/31/20
Personal Capital: https://winenancefi.com/PC
Mint: https://www.mint.com/
Clarity: https://app.claritymoney.com/?_branch_match_id=675862243786853888
YNAB: https://www.youneedabudget.com/
FOLLOW WINENANCE
Blog: https://winenancefi.com/blog Instagram: https://instagram.com/winenance Facebook: https://facebook.com/winenance Pinterest: https://pinterest.com/winenance Check out our website - https://winenanceFI.com
Music: Merengue de Limon (Quincas Moreira)
Join our email list: https://bit.ly/Winenance2
DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide we may receive a small commission. There is no additional charge to you! Thank you for supporting Winenance so we can continue to provide you with free content each week!
Send in a voice message: https://anchor.fm/winenance/message Support this podcast: https://anchor.fm/winenance/support
Frustrated that you haven’t been able to stick with a budget despite trying all the apps and spreadsheets? Well Qube Money might be the answer. It’s a new digital cash envelopes app that ties budgeting to real-time spending. We truly believe this will be a game changer, so we had the pleasure of interviewing Scott Henderson from Qube Money.
Interested in trying out Qube? Visit www.winenancefi.com/qube and enter promo code WINENANCE25 for 25% off lifetime membership until 12/31/20.
Show notes: winenancefi.com/post/episode-9
TIMECODES
0:00 - Intro
1:25 - Topic Intro
4:30 - Meet Scott Henderson of Qube Money
7:45 - What is Qube Money
9:23 - Cash Envelopes in a Digital World
11:18 - Drawbacks of other budgeting systems
12:54 - Qube replaces multiple bank accounts
13:32 - What early adopters are saying
15:52 - Features & Pricing
18:46 - Qube Money for Families & Kids
21:03 - Qube + FI (Financial Independence)
23:44 - Intentional Spending / Proactive Budgeting
25:23 - 3 Qube Features No Other Bank/App Has
23:57 - Cancel Free Trials/Subscriptions
26:45 - Security & Fraud Prevention
27:45 - Pricing compared to other budgeting apps
29:30 - How Qube compares to other budgeting apps
31:40 - Credit Cards vs. Cash
37:00 - Working WITH your spending behaviors
41:00 - Learn more about Qube Money
42:53 - Our final thoughts on Qube
47:35 - Get 25% off lifetime membership with code WINENANCE25
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"Oh, it's only $10 -- it's not much in the bigger picture...right?" WRONG. Little expenses add up and are collectively your largest expenses. Want to get a hold on your spending habits and start making headway with your bigger financial goals like traveling, starting a business, or even leaving your job? Look no further than your smallest expenses!
Show notes: https://www.winenancefi.com/post/episode-8
TIMECODES
0:00 - Intro
1:42 - Election 2020 | Marie's MSNBC Interview
7:43 - Why small expenses are your biggest expenses
11:17 - Eating Out costs more than rent/mortgage (Steph's expense trap)
15:27 - Expensive dinners are cheaper than inexpensive takeout meals
19:57 - Just because you can afford it doesn't mean you should buy it
23:28 - Impulse purchases & sale items (Marie's expense trap)
28:22 - It's not the money, it's the "why" (spending intentionally)
31:41 - Intentional spending vs. impulse buying
33:45 - The importance of tracking expenses
38:33 - Are your spending habits stealing from your future?
40:38 - Apply the 24 hour rule or 72 hour rule to unplanned purchases
41:50 - Create a "wants list" on your phone & use a shopping list
43:34 - Afford to buy vs. Should I buy?
45:14 - Stop before you say "yes" to unplanned experiences
48:45 - Plan your meals
51:42 - Episode recap
Send in a voice message: https://anchor.fm/winenance/message Support this podcast: https://anchor.fm/winenance/support
What are the implications of the 2020 election on your finances? How are you going to handle uncertainty in the markets and in the world? We discuss how to stay calm, stick with your plan, and how to find financial peace as the outcome of the election is decided.
Show notes: https://www.winenancefi.com/post/episode-7
TIMECODES
0:00 - Intro
1:30 - The 2020 Election + Winenance
7:16 - How to take control during uncertainty
8:55 - Consistency + sticking to your plan
10:44 - Be proactive, not reactive with your money
12:33 - Create multiple streams of income
16:56 - Increase (or contribute to) your emergency fund
20:59 - Continue your planned investments
24:43 - Take care of your mental health
34:33 - Find the good in your life
38:25 - Recap
Send in a voice message: https://anchor.fm/winenance/message Support this podcast: https://anchor.fm/winenance/support
It’s open enrollment season for employee benefits, and many people are confused about what an HSA is and how to use it. Even more, it’s considered the ULTIMATE retirement account. Grab your notebook because you’re going to want to take notes today!
Show notes: https://www.winenancefi.com/post/episode-6
TIMECODES
0:00 - INTRO
3:51 - What is an HSA?
5:22 - How many people actually use an HSA?
7:38 - Who can contribute to an HSA?
8:08 - IRS contribution rules
10:28 - What is an HDHP (high deductible health plan)?
12:33 - How much can you contribute?
14:14 - Tax advantages
15:02 - How an HSA lowers taxable income
16:43 - Employer Contributions to HSAs
21:29 - HSAs as an IRA (Individual Retirement Account)
21:52 - Triple Tax Advantage
23:25 - Reimbursement for Eligible Expenses
29:04 - How to Decide Between an HSA & a PPO?
36:57 - Strategies for Withdrawing & Reimbursement
38:50 - Why Marie choose a PPO
41:37 - How to run your numbers to decide
45:00 - Is an HSA worth it (Stephanie's savings)
51:53 - Challenge of the Week: run your numbers
54:44 - Episode Recap
58:58 - Next week's episode: financial impacts of the 2020 election
Send in a voice message: https://anchor.fm/winenance/message Support this podcast: https://anchor.fm/winenance/support
Index Funds are considered the “crown jewels” of investing by many in the Financial Independence community—and for good reason. They’re among the simplest yet effective ways to invest. Why? They’re widely diversified, perform as well as the stock market (if you invest in an S&P fund or Total Stock Market Fund), and they’re relatively low-risk.
Show notes: https://www.winenancefi.com/post/episode-5
TIMECODES
0:00 - Intro
6:29 - Last Week's Challenge: Wait 24 hours before unplanned purchases
9:57 - Why Index Funds?
12:47 - The Stock Market Always (eventually) Goes Up
15:56 - Why Index Funds are a "Safe Risk" (COVID-19 Market Recovery)
18:43 - Question of the Day: What Scares You Most About Investing?
24:24 - What is an Index Fund?
29:50 - Index Funds & Diversification
33:39 - Index Funds are Self-Cleansing
34:47 - Expense Rations (Fees) & Actively Managed Funds
36:35 - Index Fund Blog Post
38:35 - Challenge of the Week: Do 1 Thing Outside Your Comfort Zone
Send in a voice message: https://anchor.fm/winenance/message Support this podcast: https://anchor.fm/winenance/support
In this episode, you’ll learn how to successfully start tracking your expenses. The first step to creating a budget is knowing where you are currently spending your money and how much you spend in each category. Only then can you truly start to spend your money more intentionally.
Show notes: https://www.winenancefi.com/post/episode-4
TIMECODES
0:00 - Intro
5:28 - Tracking Your Net Worth (last week’s challenge of the week)
9:56 - What does “tracking expenses” mean?
12:07 - Tracking Expenses vs. Budgeting (what's the difference?)
18:30 - Tracking Expenses is the First Step to Creating a Budget
19:30 - Determine how much to spend in each category
29:59 - How to track your Amazon purchases
32:22 - Why it’s ok that your expenses fluctuate as your life changes
39:25 - The 24 hour rule (wait at least 24 hours before making impulse purchases)
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The Winenance 401K Guide: https://winenancefi.com/401k
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OUR FAVORITE MONEY TOOLS
Qube: https://winenancefi.com/qube Use code WINENANCE25 for 25% off lifetime memberships through 12/31/20
Personal Capital: https://winenancefi.com/PC
Mint: https://www.mint.com/
Clarity: https://app.claritymoney.com/?_branch_match_id=675862243786853888
YNAB: https://www.youneedabudget.com/
-----------------------------------------------------
FOLLOW WINENANCE
Blog: https://winenancefi.com/blog
Podcast: http://winenancefi.com/podcast
Instagram: https://instagram.com/winenance
Facebook: https://facebook.com/winenance
Pinterest: https://pinterest.com/winenance
Check out our website - https://winenanceFI.com
-----------------------------------------------------
Music: Merengue de Limon (Quincas Moreira)
-----------------------------------------------------
Join the Winenance community and get exclusive money tips that we don’t share on social media straight to your inbox: https://bit.ly/Winenance2
-----------------------------------------------------
DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide we may receive a small commission. There is no additional charge to you! Thank you for supporting Winenance so we can continue to provide you with free content each week!
Send in a voice message: https://anchor.fm/winenance/message Support this podcast: https://anchor.fm/winenance/support
This week, we share the four (4) key reasons why everyone should pursue Financial Independence , and how pursuing FI creates more intention and purpose in your life: 1) provides health and financial security, 2) creates freedom and choice, 3) time ownership, and 4) builds generational wealth.
Show notes: https://www.winenancefi.com/post/episode-3
Timecodes 0:00 - Intro
0:58 - 401K Workshop Announcement
1:53 - Whiskey Apple Cider (drink of the week)
3:19 - Increase your 401K contributions (last week's challenge of the week)
7:07 - What is Financial Independence
13:15 - What does it mean to live intentionally?
17:58 - 4 Reasons Everyone Should Pursue Financial Independence
18:32 - #1: Financial Security, Job Security, & Health Security
25:55 - Question of the Week: what would you do if money were no object?
29:57 - #2: Financial Freedom - freedom to choose your own path
34:35 - #3: Time Ownership (how to buy back your time)
38:32 - #4: How to Build Generational Wealth
46:06 - Why you should start tracking your net worth
Send in a voice message: https://anchor.fm/winenance/message Support this podcast: https://anchor.fm/winenance/support
There are 4 key reasons why your employer-sponsored retirement account (401K, 403B, 457B) is one of the BEST wealth-building tools at your disposal. We discuss why more 401K millionaires were made in Q2 of 2020 than ever before. We also share how automatic contributions force you to build wealth, how to max out your employer match, and why contributing more to your 401K can actually lower your taxable income. PLUS, we announce our first virtual workshop: Building Wealth in Your 401K!
Show notes: https://www.winenancefi.com/post/episode-2
Send in a voice message: https://anchor.fm/winenance/message Support this podcast: https://anchor.fm/winenance/support
In the season 2 premier of Winenance Wednesday, Marie & Stephanie walk you through our updated core mission of helping you spend intentionally, grow wealth through investing, and live life more intentionally. We explain new concepts like “Financial Life Goals” and share with you the risks of NOT investing. Plus, our challenge of the week: cut back in ONE spending category.
Show notes: https://www.winenancefi.com/post/episode-1
Send in a voice message: https://anchor.fm/winenance/message Support this podcast: https://anchor.fm/winenance/support
Send in a voice message: https://anchor.fm/winenance/message Support this podcast: https://anchor.fm/winenance/support