Balanced FI Podcast: Recent Episodes
RaLea Harbrige
The Balanced FI podcast is all about practical, real-world ways to pay off debt, save money, and balance life with financial goals. Each week your host, RaLea, dives into a family finance topic that will improve your life: the steps to financial security, debt payoff methods, easy ways to save money on everyday expenses, and more... all with a dose of intentional living, a dash of minimalism & a splash of the realities of parenting a child with disabilities.
Welcome to the Balanced FI Podcast, episode 42 - How to Make the 52 Week Savings Challenge Work for You
The 52 Week Savings Challenge is a simple method for saving a large amount. Making smaller deposits each week will help you reach your savings goal amount by the end of the year-long challenge period.
Print out one of the trackers included in this article for monitoring your savings progress. You don’t have to start your challenge at the beginning of the year, but the $1000 and $5000 Savings trackers are set up to accumulate those amounts before Christmas.
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: How to Make the 52 Week Savings Challenge Work for You + Free 52 Week Savings Challenge Tracker Downloads
Read: The Financial Security Steps: Welcome!
Read: Financial Security Step 2a: Save a Mini Emergency Fund
Read: Financial Security Step 2b: Begin Saving for Retirement
Read: Financial Security Step 6: Create a Budget
Read: Financial Security Step 3: Save for Recurring Expenses
Read: Financial Security Step 7: Pay off Debt
Read: Financial Security Step 8: Save an Emergency Fund
Read: Financial Security Step 9: Increase Retirement Contributions
Read: Financial Security Step 10: Choose Your Next Financial Goal
Read: 30 Day Challenge + Free 30 Day Tracker
Sign up: Balanced Family Financial Fix waitlist
Welcome to the Balanced FI Podcast, episode 41 - The Best Mother's Day Gift Ideas for Moms of Young Kids
These Mother’s Day gift ideas for moms with young kids are guaranteed to score the dads out there some major brownie points. We all know it’s Dad’s job to buy Mother’s Day gifts when their children are young. That also means there’s more pressure to buy a great gift. Mom is going to appreciate anything directly from the kids. It’s on Dad to buy something that shows his appreciation for all she does.
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: The Best Mother’s Day Gift Ideas, for Moms of Young Kids
Read: 5 Tips for a Frugal Christmas
Read: 6 Ways to Have a Frugal Valentine’s Day
Welcome to the Balanced FI Podcast, episode 40 - How to Start a Virtual Bookkeeping Business, based on my own experience in starting one. I’ll walk you through the major decisions you need to make, step by step, to get this side hustle off the ground.
The most important reminder is to not fake your qualifications; don’t pass yourself off as a bookkeeper with no knowledge or experience.
We’ll cover the basic steps, like
- Decide on a business name & business type
- Register with your state & the IRS
- Open a business bank account
- Get liability insurance
- Train on bookkeeping practices & software
- Decide what services to offer
- Set up your tech
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read- How to start a virtual bookkeeping business
Read- It’s Not Easy Parenting a Child with Disabilities
Read more- Debt Payoff Journey
Read more- Financial Security Steps
Resource- Choose a business structure
Resource- About Form W-9, Request for Taxpayer Identification Number and Certification
Resource- Register your business
Resource- Apply for an Employer Identification Number (EIN) Online
Resource- Intro to Accounting Training Course
Resource- Quickbooks
Resource- National Association of Certified Public Bookkeepers
Resource- Google Drive
Resource- Dropbox
Resource- Trello
Resource- Asana
Resource- Monday
Resource- Adobe Acrobat
Resource- Squarespace
Resource- Wordpress
SOURCES:
Buy- HP LED monitor
Buy- Wireless keyboard & mouse combo
Buy- Dell Inspiron laptop
Buy- Lexmark color laser multifunction printer
Buy- Logitech Pro webcam
Subscribe- Quickbooks Online
Buy- Microsoft Dynamics
Subscribe- Xero
Subscribe- FreshBooks
Welcome to the Balanced FI Podcast, episode 39 - Investing Terms 101: Basic Investment Terms You Need to Know
Understanding a few basic investment terms is a step forward on your journey toward financial security.
Investing can be as complex or as simple as you want it to be. Thousands of people actually invest others’ money as a job…. but it’s also something literally anyone with money can participate in.
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read- Investing Terms 101: Basic Investment Terms You Need to Know
FREE download- Investing Terms 101 Fact Sheet
Read- Smart Ways to Use Your Stimulus Money
Read- Financial Security Step 9: Increase Retirement Contributions
Read- Financial Security Step 2b: Begin Saving for Retirement
SOURCES:
Source- The S&P 500 and How It Works
Source- J.P. Morgan Glossary of Investment Terms
Source- Investment Terms Everyone Should Know
Source- Basic Investing Terms You Should Know
Welcome to the Balanced FI Podcast, episode 38 - The 20 Best Money-Saving Life Hacks
Planning for your money, conserving, meal planning, and more… little changes can lead to big improvements in your finances.
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read- The 20 Best Money-Saving Life Hacks: Ways to Save Money in Everyday Life
Read- 4 Ways to Be Intentional With Your Money
Read- 7 Steps to Find Your Motivation For Debt Payoff
Read- 10 Ways to Make Saving Money Fun
Buy- Meal Planner Printable Bundle
Read- I Can’t Afford Mental Health Care: How to Find Good Care That Fits in Your Budget
Sign up- Intentionally Debt Free
Read- Financial Security Step 1: Track Your Expenses
Read- Financial Security Step 7: Pay off Debt
FREE Sign up- Debt Payoff Planner
Read- Financial Security Step 2b: Begin Saving for Retirement
Read- Financial Security Step 8: Save an Emergency Fund
Read- Financial Security Step 10: Choose Your Next Financial Goal
Read- 3 Ways to Use Meal Planning to Save Money
Read- Top Tips for Frugal Activities
Read- 5 Quick Questions to Ask Yourself Before Purchasing
FREE Sign up- Money Makeover Challenge
SOURCES:
Source- Want to control your spending? Try the 30-Day Rule
Source- Save Money Easily with the $5 Savings Challenge
Buy- CyperPower Energy-Saving Surge Protector Power Strip
Buy- Krups Coffee Grinder
Buy- Steam Espresso Machine with Milk Frother
Welcome to the Balanced FI Podcast, episode 37 - Quick Tips for a Frugal Wedding
The average cost of a wedding in the US is around $30,000. That’s an awful lot of money to spend on one day.
If you’re looking for more affordable alternatives, there are many ways to plan and host a frugal wedding without going into debt. These ideas will allow you to do something meaningful with your partner and celebrate your love in a way that doesn’t break the bank.
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read- Frugal Wedding: Celebrating Your Love Without Going Into Debt
Read- I Can’t Afford Mental Health Care: How to Find Good Care That Fits in Your Budget
Resource - Trello
SOURCES:
Source- Average Wedding Bill Hits $30,000
Source- This Gorgeous DIY Costco Wedding Cake Only Cost $50 to Create
Welcome to the Balanced FI Podcast, episode 36 - Gather These Documents for Your Tax Prep
Hopefully, you’re planning ahead to make sure your taxes will be filed in a timely manner.
Whether you’re preparing your own return or paying a professional, some documents are needed for taxes, and you need to make sure you have all of them gathered up.
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read- The Most Important Documents Needed for Taxes
Resource- IRS Standard Mileage Rates
Read- Financial Security Step 4: Calculate your Net Worth
SOURCES:
Source- Rules for Claiming a Dependent on Your Tax Return
Source- How Do I Choose the Right Tax Filing Status?
Source- Tax forms you may receive
Source- Changes to charitable giving rules for 2020
Welcome to the Balanced FI Podcast, episode 35 - Struggling to Talk to Your Spouse About Money: 3 Simple Steps to Help
Money is a big part of marriage, whether you want to acknowledge it or not. The 3 steps to discussing your money with your spouse are:
- Talk about your current money situation
- Talk about your current money feelings
- Talk about how to change your money
Tips for making these things happen included!
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: Struggling to Talk to Your Spouse About Money: 3 Simple Steps to Help
Read: Financial Security Step 6: Create a Budget
Read: Financial Security Step 4: Calculate your Net Worth
Download: Debt Payoff Planner
Sign Up: Frugal Year Challenge
Read: How to Set Financial Goals for 2021
Read: Financial Security Step 8: Save an Emergency Fund
Read: Financial Security Step 9: Increase Retirement Contributions
Resource: Keep These 5 Resources on Financial Abuse Bookmarked
Join the Waitlist: INTENTIONALLY DEBT FREE!
SOURCES:
Source: This common behavior is the No. 1 predictor of whether you’ll get divorced
Welcome to the Balanced FI Podcast, episode 34 - Amazon Hacks for Making the Most of Your Account - even if you’re not a Prime member.
Amazon has taken over so many areas of life, but some of those features are super helpful. Although some of the things we discuss require a Prime membership, some are still available to non-members.
Taking advantage of all the features of your Amazon account just makes good sense.
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: Amazon Hacks for Making the Most of Your Account
Resource: CamelCamelCamel
Read: 5 Tips for a Frugal Christmas
Read: 4 Unexpected Ways to Save Money
SOURCES:
Source: Amazon
Source: ‘I'm not a robot’: Amazon workers condemn unsafe, grueling conditions at warehouse
Welcome to the Balanced FI Podcast, episode 33 - The 4 Cs of Credit: What You Need to Know
Although you probably haven’t heard of them, the 4 Cs of credit are:
- Capacity to pay the loan back
- Capital
- Collateral
- Credit score
Improving one or all of these areas can greatly improve your odds of being approved for a mortgage or getting a better interest rate.
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: The 4 Cs of Credit: What You Need to Know
Read: Do You Need a Credit Score While Debt-Free?
Resource: Experian
Resource: Equifax
Resource: TransUnion
Resource: Loan Savings Calculator
Resource: National Foundation for Credit Counseling
SOURCES:
Source: What’s in my FICO Scores?
Source: What Is a Credit Score, and What Are the Credit Score Ranges?
Source: How Credit Score Affects Your Mortgage Rate
Welcome to the Balanced FI Podcast, episode 32 - Frugal not Cheap: 6 Things You Shouldn’t Skimp On
The cheapest option isn’t always the best option - it might not be safe, efficient, or long-lasting. Instead, you shouldn’t skimp on these things:
- Safety things
- Baby safety things
- Shoes
- Anything sleep related
- Dog food
- Insurance
Listen to find out why!
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: Frugal not Cheap - 6 Things You Shouldn’t Skimp On
Resource: Vehicle History
Resource: NHTSA Safety Issues & Recalls
Resource: VINCheck Lookup
Read: 3 Big Ways to Save on Baby Stuff
Resource: Zulily
Resource: 6pm
Buy: Tempur-Pedic Mattress Topper
Buy: Hushh Portable White Noise Machine
Buy: Cosy House Sheets
Buy: Bose Noise Cancelling Headphones
Buy: Bose Sleepbuds
Read: 6 Easy Self-Care Ideas for Busy People
Buy: Kirkland Signature Nature’s Domain Dog Food
Sign Up: Frugal Year Challenge
SOURCES:
Source: Business Insider: 15 Things You Should Never Skimp On
Source: WiseBread: 15 Things You Should Never Skimp On
Welcome to the Balanced FI Podcast, episode 31 - How to Find Grants to Pay Medical Bills
The American healthcare system isn’t just un-user-friendly, it’s very expensive. Grants and financial assistance can help you avoid financial hardship or even bankruptcy.
This episode covers where to find grants and other assistance, how to negotiate with medical providers, and how to organize everything to stay sane.
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: How to Find Grants to Pay Medical Bills
Sign up: Money Makeover Challenge
Resource: I Can’t Afford Mental Health Care: How to Find Good Care That Fits in Your Budget
Resource: The Ultimate Guide to Appealing Health Insurance Denials
Resource: Charity Navigator
Resource: USA Grants
Resource: Social Security Disability Benefits
Resource: Medicaid
Resource: Medicare
Resource: VA health care
Resource: FaxZero
Resource: United Healthcare Children’s Foundation
Resource: 11 Organizations That Will Help You Pay Your Medical Bills
Resource: Help With Bills
Resource: OneMain Financial: How to Pay for Medical Supplies You Need
SOURCES:
Source: 'I live on the street now': how Americans fall into medical bankruptcy
Welcome to the Balanced FI Podcast, episode 30 - 3 Simple Gratitude Prompts for Your Holiday Season
The holidays can be hard for so many, making the focus on gratitude even more important. Askin yourself 3 simple questions can help you find the good in your day.
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: 3 Simple Gratitude Prompts for Your Holiday Season
SOURCES:
Source: How to Practice Gratitude
Welcome to the Balanced FI Podcast, episode 29 - All You Need to Know About Keeping Fun in Your Budget
Setting aside a bit of money each month for fun, frivolous purchases helps you stay on track financially. You’re less likely to completely blow your budget when you know you have already planned for your hobbies and random habits.
This episode goes over
- why you need to budget for fun
- how much to set aside
- how to actually make a fun money budget part of your life
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: Fun Money Budget: What You Need to Know
Read: Financial Security Step 6: Create a Budget
Read: Financial Security Step 7: Pay off Debt
Read: Financial Security Step 9: Increase Retirement Contributions
Read: Financial Security Step 8: Save an Emergency Fund
Sign up: Bill-Balancing Bootcamp
SOURCES:
Source: 50/20/30 Method Is Perfect if You’re on a Budget… but Still Have a Life
Welcome to the Balanced FI Podcast, episode 28 - Do You Need a Credit Score While Debt-Free?
You CAN live without a credit score, once you’re debt-free… but life is a lot easier with a good credit score. A credit score is helpful for renting a home, establishing new utility services, applying for certain jobs, getting a mortgage, property insurance in some states, life insurance rates.
Using credit wisely and carefully can help you get and maintain a good credit score. There’s one important caveat here - don’t even attempt limited credit card use unless you are well accustomed to living without a credit card. You need to treat your credit card like a debit card.
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: Do You Need a Credit Score While Debt-Free?
FREE Annual Credit Report
Read: Financial Security Step 4: Calculate your Net Worth
Resource: sign up for the Frugal Year Challenge
SOURCES:
Source: Living Without a Credit Score
Source: Can You Buy a House With No Credit?3
Source: Dave Ramsey Says You Don’t Need a Credit Score. 5 Reasons That’s Nonsense
Source: What is a credit score?
Source: Getting Utility Services: Why Your Credit Matters
Source: What to Know About a Credit-Based Insurance Score
Source: When does debt fall off your credit report?
Source: Does your credit score affect your life insurance premiums?
Welcome to the Balanced FI Podcast, episode 27 - 5 Tips for a Frugal Christmas
Gift-giving doesn’t have to bankrupt you. To save money on Christmas, consider:
- Simplifying your giving list
- Planning ahead and making a budget
- Shopping sales & looking for cashback
- Making gifts
- Giving second-hand gifts
To make next year less stressful, save for Christmas throughout the year
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: 5 Tips for a Frugal Christmas
Resource: Draw Names
Resource: Rakuten
Resource: KiwiCo
Resource: Poshmark
Resource: ThredUp
Sign up: Intentionally Debt Free waitlist
SOURCES:
Source: 4 Gifts for Christmas: How to Make Your Family Happy With Less
Welcome to the Balanced FI Podcast, episode 26 - How to Find Good Mental Health Care That Fits in Your Budget
Whether you do or do not have health insurance, you are entitled to mental health care (and medical care, but that's for another day). Cost can make proper mental health care prohibitive, but there ARE resources out there when you can't afford a more traditional route.
Suicide Prevention Lifeline: 1-800-273-8255
Mental Health.gov
National Domestic Violence Hotline: 1-800-799-SAFE (7233)
Dial *211
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: I Can’t Afford Mental Health Care: How to Find Good Care That Fits in Your Budget
Read: 6 Easy Self-Care Tips for Busy People
Resource: Mental Health America
Resource: Take a Mental Health Test
Resource: Free/Low-Cost/Sliding Scale Mental Health Clinics database
Resource: NeedyMeds
Resource: Better Help (individual, couples & teen counseling)
Resource: Faithful Counseling (Christian counseling)
Resource: Teen Counseling
Resource: ReGain (couples counseling)
Resource: Pride Counseling (LGBTQ counseling)
Read: The Ultimate Guide to Appealing Health Insurance Denials
MONTANA RESOURCES:
Resource: Bozeman Help Center
Resource: Western Montana Mental Health Center
Resource: Community Health Partners
SOURCES:
Source: Mental Health Month
Source: Best Online Counseling Services of 2021
Source: Emotional Disturbance
Welcome to the Balanced FI Podcast, episode 25: 7 Steps to Find Your Motivation For Debt Payoff.
We’ve got 7 easy steps to keep you going during a long debt payoff journey:
- Identify what’s important
- Get on the same page
- Turn your priorities into goals
- Remind yourself of your motivation for debt payoff
- Watch the numbers change
- Set rewards to keep your motivation for debt payoff
- Celebrate your victories with like-minded people
FIND US:
Balancedfi.com -- Podcast -- Facebook -- Instagram -- Pinterest -- Hello@balancedfi.com
RESOURCES:
Read: 7 Steps to Find Your Motivation for Debt Payoff
Read: I Can’t Afford Mental Health Care: How to Find Good Care That Fits in Your Budget
Read: How to Set Financial Goals for 2021
Read: 5 Quick Questions to Ask Yourself Before Purchasing
Read: Financial Security Step 4: Calculate your Net Worth
Resource: Debt Free Charts
Free Download: Debt Payoff Planner
Welcome to the Balanced FI Podcast, episode 24! Thank you so much for listening in!
Appealing health insurance denials is the best (maybe only?) way to increase the chances your health insurance provider will cover the requested medical treatment. So many times a claim is denied automatically, or without sufficient investigation, so it falls to the patient (or patient’s representative) to appeal the denial and seek coverage.
To appeal a health insurance denial, you need to:
- Request coverage
- Receive the denial
- Call insurance
- Get more information
- Contact your provider
- Follow the appeal process
- Ask what the next step is
RESOURCES:
Read: The Ultimate Guide to Appealing Health Insurance Denials
Read: Meet RaLea
Fax Zero
Patient Advocate Foundation
SOURCES:
HeathCare.gov: Appealing a health plan decision - External Review
Center for Medicare Advocacy: Frequently Asked Questions (FAQs) Regarding the Jimmo v. Sebelius “Improvement Standard” Settlement
Welcome to the Balanced FI Podcast, episode 23! Thank you so much for listening in!
Make saving money fun to keep yourself engaged in long-term financial goals. Some ways to make saving fun include:
- Set goals & rewards
- Track your progress
- No spend month challenge
- No spend days challenge
- Loose change challenge
- First to save challenge
- Pantry challenge
- Dollars per week food challenge
- Kids savings challenge
- Annual savings challenge
RESOURCES:
Read: 10 Ways to Make Saving Money Fun
Free Download: Financial Goal Planner
Read: 30 Day Challenge + Free 30 Day Tracker
Read: 5 Quick Questions to Ask Yourself Before Purchasing
Read: 3 Ways to Use Meal Planning to Save Money
Read: Financial Security Step 2a: Save a Mini Emergency Fund
SOURCES:
Source: Debt Free Charts
Source: Benefits and Challenges of the 52-Week Savings Challenge
Source: How to Save $7,000 This Year With the $5 a Week Savings Challenge
Source: 52 Week Challenge Plan (Save $1,000) - Free Printable
Source: 52 Week Money Challenge Printable Chart
Source: Five Ways To Do A 52 Week Money Challenge + Free Printable
Source: 15 Ways to Make Saving Fun
Source: 10 Creative Ways to Make Saving Money Fun
Source: 15 Creative Ways to Save Money
Welcome to the Balanced FI Podcast, episode 22! Thank you so much for listening in!
This week we’re focused on my top tips for frugal activities. You should be able to have fun even while paying off debt, saving for emergencies, or living financially responsibly… but you still need to be able to afford it.
Suggestions include:
- Lower expectations
- Enroll young kids in Dolly Parton’s Imagination Library
- Plan ahead
- Look for museum membership discounts
- Travel more frugally
- Reduce fees with early bird discounts, volunteering or choosing cheaper programs
- Use the library
RESOURCES:
Read: Top Tips for Frugal Activities
Read: 4 Ways to be Intentional with Your Money
Enroll: FREE Frugal Year Challenge
SOURCES:
Dolly Parton’s Imagination Library
ASTC Travel Passport Program
Libby app
Kindle Oasis
Welcome to the Balanced FI Podcast, episode 21! Thank you so much for listening in!
This episode dives into 5 quick questions to ask yourself before buying, including examples:
- Is this a want or a need?
- Does this align with my bigger financial goals?
- Do I have something similar already?
- Is it worth this number of work hours?
- Could I make this myself?
RESOURCES:
Read: 5 Quick Questions to Ask Yourself Before Purchasing
Read: 4 Ways to Be Intentional With Your Money
Read: 10 Ways to Make Saving Money Fun
SOURCES:
Recommended: Fifteen Minute Pizza Dough
Welcome to the Balanced FI Podcast, episode 20! Thank you so much for listening in!
Saving money on baby stuff isn’t as difficult as it seems… but it does require some self-control when you’re facing cute prints on cloth diapers and adorable little outfits.
RESOURCES:
Read: 3 Big Ways to Save on Baby Stuff
Read: 4 Unexpected Ways to Save Money
Learn: Fluff Love University
Read: 5 Tips for a Frugal Christmas
SOURCES:
Nerdy Mommas: Cloth diaper 101 - Types of Cloth Diapers
Welcome to the Balanced FI Podcast, episode 19! Thank you so much for listening in!
Meal planning helps save money in multiple ways, plus it reduces so much stress for busy families.
- Meal planning reduces food waste
- Meal planning limits impulse buys
- Meal planning reduces the expenses of eating out
BONUS: Meal planning reduces stress
TIP: online grocery shopping/ grocery pickup makes life easier and saves both time & money.
If you need a kick in the pants to jump-start a money mindset change, I’m hosting a FREE No Spend Week Challenge October 11-17, 2021. You’ll learn strategies to make not spending and saving money easier - and you can win prizes too! Sign up here: https://balancedfi.ck.page/nospend2021
RESOURCES:
Read: 3 Ways to Use Meal Planning to Save Money
Sign up: Frugal Year Challenge (Free in 2021)
Buy: Meal Planner Printable Bundle
SOURCES:
USDA: Food Waste FAQs
Welcome to the Balanced FI Podcast, episode 18! Thank you so much for listening in!
Step 10 of the Financial Security Steps is to Choose Your Next Goal.
- Increasing your emergency fund
- Saving for college
- Paying off the mortgage
- Maxing out retirement contributions
- Saving for other big purchases
- Pursuing financial independence
You choose your next goal, you choose how to get there.
RESOURCES:
Read: Financial Security Step 10: Choose Your Next Financial Goal
Read: Financial Security Step 7: Pay off Debt
Read: Financial Security Step 8: Save an Emergency Fund
Read: Financial Security Step 9: Increase Retirement Contributions
Read: Financial Security Step 3: Save for Recurring Expenses
Resource: Early Mortgage Payoff Calculator
Resource: R: IQ Retirement Planner
Read: Financial Independence vs Financial Security
SOURCES:
Source: Tax-Smart Ways to Help Your Kids or Grandkids Pay for College
Source: What is a 529 Plan?
Source: 529 ABLE Accounts
Source: How to Become Financially Independent
Source: The Ultimate Guide to the FIRE Movement
Welcome to the Balanced FI Podcast, episode 17! Thank you so much for listening in!
This step in the financial security process is all about increasing your retirement contributions when you’re out of debt (other than a mortgage) and have your emergency fund saved up. Saving early and often is the key to success, but it’s not too late to start.
We included some resources for retirement planning and calculating how much you need, as well as tips for finding a financial advisor.
It’s important to remember that small increases, even just 1% more saved per year, will make a huge impact on your retirement balance in 30 years. Whatever you can save right now is good enough, but don’t settle - try to find ways to contribute even more.
RESOURCES:
Read: Financial Security Step 9, Increase Retirement Contributions
Read: Financial Security Step 2a, Save a Mini Emergency Fund
Read: Financial Security Step 2b, Begin Saving for Retirement
Read: Financial Security Step 7, Pay Off Debt
Read: Financial Security Step 8, Save an Emergency Fund
SOURCES:
Source: R:IQ
Source: Retirement Savings Calculator: How Much Do I Need to Retire?
Source: The National Association of Personal Financial Advisors
Source: NAPFA: What is Fee-Only Financial Planning?
Source: How much should I save for retirement?
Source:
Status of the Social Security and Medicare Programs
Welcome to the Balanced FI Podcast, episode 16! Thank you so much for listening in!
We’re talking about unexpected ways to save money - not coupon-clipping, but changing your lifestyle to save money - and tips for getting started.
The 4 ways are:
- leaving Amazon Prime
- using wood heat
- hunting & buying meat in bulk
- gardening & preserving.
RESOURCES:
Read: 4 Unexpected Ways to Save Money
Resource: Bountiful Baskets
Read: 5 Tips for a Frugal Christmas
Resource: Rakuten
SOURCES:
Source: Amazon Faces a Crucible Moment With Employees
Source: World’s richest men added billions to their fortunes last year as others struggled
AFFILIATE LINKS:
Husqvarna 20 Inch 455 Rancher Gas Chainsaw
Forester OEM Arborist Forestry Professional Cutter’s Combo Kit Chaps Helmet
LEM Products Stainless Steel Big Bite Electric Meat Grinder
FoodSaver V4840 2-in-1 Vacuum Sealer Machine
FoodSaver 11” x 16” Vacuum Seal Roll
Frigidaire FFFU13F2VW 28 Inch White Freestanding Upright Counter Depth Freezer
12 Ball Mason Jar with Lid - Regular Mouth
RSVP International Endurance Water Bath Canner, Stainless Steel, 20 Quart
Excalibur 9-Tray Electric Food Dehydrator
5 x Silicone 14” x 14” Non-Stick Fruit Leather Drying Ultra Sheet
Welcome to the Balanced FI Podcast, episode 15! Thank you so much for listening in!
A fully-funded emergency fund is the backbone of financial security. It allows you to weather job losses, unexpected expenses, medical bills, and more, without reaching for a credit card or other debt.
RESOURCES
Read: Financial Security Step 8, Save an Emergency Fund
Download: free Emergency Fund Worksheet
Read: Financial Security Step 2a, Save a Mini Emergency Fund
Read: Financial Security Step 3, Save for Recurring Expenses
SOURCES
Source: A Quick Guide to Your Emergency Fund
Source: What is a Money Market Account?
Welcome to the Balanced FI Podcast, episode 14! Thank you so much for listening in!
Step 7 of the Financial Security Steps is: Pay Off Debt. This episode covers how to make that happen:
- Create a debt payoff plan
- Save money where you can (or make more money)
- Make saving money fun through challenges
- Communicate with your partner
Resources:
Read: Financial Security Step 7, Pay Off Debt
Download: Debt Payoff Planner
Enroll: Frugal Year Challenge (free in 2021!)
Read: Financial Security Step 1, Track Your Expenses
Read: Financial Security Step 5, Create a Debt Payoff Plan
Read: Financial Security Step 6, Create a Budget
Read: 4 Unexpected Ways to Save Money
Read: Fun Money Budget: What You Need to Know
Read: 3 Ways to Use Meal Planning to Save Money
Read: 30 Day Challenge + Free 30 Day Tracker
Read: 7 Steps to Find Motivation for Debt Payoff
Read: Struggling to Talk to Your Spouse About Money: 3 Simple Steps to Help
Sources:
SmartDollar
Welcome to the Balanced FI Podcast, episode 13! Thank you so much for listening in!
This episode covers 4 Ways to be Intentional With Your Money, to give you more control over your spending by making sure you’re spending on what really matters to you.
Resources:
Read: 4 Ways to be Intentional With Your Money
Read: Financial Security Steps overview
Read: Financial Security Step 1: Track Your Expenses
Read: Financial Security Step 2a: Save a Mini Emergency Fund
Read: Financial Security Step 2b: Begin Saving for Retirement
Read: Financial Security Step 3: Save for Recurring Expenses
Read: Financial Security Step 4: Calculate Your Net Worth
Read: Financial Security Step 5: Create a Debt Payoff Plan
Read: Financial Security Step 6: Create a Budget
Read: Financial Security Step 7: Pay Off Debt
Read: Financial Security Step 8: Save an Emergency Fund
Read: Financial Security Step 9: Increase Retirement Contributions
Read: Financial Security Step 10: Choose Your Next Goal
Read: How to Set Financial Goals for 2021
Sign up: The Frugal Year Challenge
Sources:
Source: Theory of Intentionality by McIntyre & Smith
Source: R:IQ
(retirement calculator)
Welcome to the Balanced FI Podcast, episode 12! Thank you so much for listening in!
This episode covers budgeting and its importance. We start by looking at past transactions and adjusting your budget to help you meet your current financial goals.
We also go over important budget categories, such as:
- bills
- minimum debt payments
- food
- household items
- vehicle expenses
- fun money
- medical costs
- personal care
- pets
- entertainment
Resources:
Sign up: Easy Budget Builder Waitlist
Read: Financial Security Step 6, Create a Budget
Read: Financial Security Step 1, Track Your Expenses
Read: Financial Security Step 2a, Save a Mini Emergency Fund
Read: Financial Security Step 2b, Begin Saving for Retirement
Read: Financial Security Step 3, Save for Recurring Expenses
Read: Financial Security Step 4, Calculate your Net Worth
Read: Financial Security Step 5, Create a Debt Payoff Plan
Download: free Budget Planner
Download: free Save for Recurring Expenses Worksheet
Read: 30 Day Challenge
Read: Fun Money Budget - What You Need to Know
Sources:
USDA: USDA Food Plans - Cost of Food Reports (monthly reports)
Every Dollar budgeting app
Welcome to the Balanced FI Podcast, episode 11! Thank you so much for listening in!
This episode provides you with a prioritized list of ways to spend stimulus money, but also other unusual lump sums you receive. Having a plan will help you make smart decisions.
Ways to spend your stimulus money:
- Cover necessities
- Get current on bills
- Have a little bit of fun
- Pay off non-mortgage debt
- Invest in retirement
- Save for a big purchase
- Invest for your children
- Pay down your mortgage
- Invest in an ABLE account if eligible
Resources:
Read: Smart Ways to Use Your Stimulus Money (initially written about the stimulus payment issued in early 2021)
Read: Financial Security Steps
Download: Debt Payoff Planner
Read: Financial Security Step 2b, Begin Saving for Retirement
Sources:
ABLE National Resource Center: About ABLE Accounts
ABC: White House launches public push for child tax credit: Here’s when the checks go out
Welcome to the Balanced FI Podcast, episode 11! Thank you so much for listening in!
When my 6-year-old daughter was born, my life changed significantly. All parents experience life changes, but my husband & I experienced extremes. I quit my job to become a stay-at-home mom, we learned to advocate, our family made it through 3 life flights in 6 months, and we grew stronger.
It’s not easy parenting a child with disabilities, but it’s so worth it. Learning that nonverbal doesn’t mean non-opinionated or absent, learning how to advocate, learning to juggle and balance and control the chaos… and learning to love. It’s all been worth it.
Resources:
Read: It’s Not Easy Parenting a Child With Disabilities
Read: The Ultimate Guide to Appealing Health Insurance Denials
Read: How to Find Grants to Pay Medical Bills
Sources:
What is Crohn’s Disease?
Expectant Parents: What is Spina Bifida?
Newly Diagnoses: Hydrocephalus
Infantile Spasms
VP Shunts
Welcome to the Balanced FI Podcast, episode 10! Thank you so much for listening in!
After you download the free Debt Payoff Planner, fill it in by listing all of your debts.
Next, choose a payoff method - debt snowball, debt avalanche, or a hybrid method - that works with your life and personality.
Finally, calculate your rolling debt payment amount and put it into practice in your own financial life. Use this method to keep your motivation up, to stay engaged in the long debt-payoff process, and really speed the timeline up.
Resources:
Read: Financial Security Step 5, Create a Debt Payoff Plan
Download: Debt Payoff Planner
Read: Financial Security Step 2a, Save a Mini Emergency Fund
Read: Financial Security Step 3, Save for Recurring Expenses
Read: Financial Security Step 4, Calculate your Net Worth
Read: Financial Security Step 6, Create a Budget
Annual Credit Report
Credit Karma
Sources:
Dave Ramsey: How the Debt Snowball Method Works
Nerd Wallet: How to Use Debt Avalanche
Welcome to the Balanced FI Podcast, episode 9! Thank you so much for listening in!
Calculate your net worth by subtracting your debts (liabilities) from your assets.
First, list your assets, such as real estate, vehicles, bank accounts, retirement accounts, investment accounts, and other valuables. Next list your liabilities, like your mortgage, vehicle loans, credit cards, personal loans, taxes owed, HELOCs, 401(k) loans, medical debt, and cell phone loans.
Make sure to also request your free credit report to make sure you have all your debts listed.
Resources:
Read: Financial Security Step 4, Calculate Your Net Worth
Download: Calculate Your Net Worth Worksheet
Read: Financial Security Step 2b, Begin Saving for Retirement
Zillow
NADAguides
Annual Credit Report
Credit Karma
Welcome to the Balanced FI Podcast, episode 8! Thank you so much for listening in!
This episode is about 5 free ways to be content and ways to put them into practice in your life:
- Find the good
- Rephrase your complaints
- Identify what is making you unhappy
- Write down ways to be content
- Slow down
Living, and spending, intentionally as a habit starts with small changes to your life. Taking a walk each day, removing one obligation from your schedule, or striving for an optimistic outlook will all help you live happier.
When you’re happy & content, you’re also less likely to spend as a form of therapy, so you’ll even save money!
Resources:
Read: 5 Free Ways to Be Content
Read: 3 Simple Gratitude Prompts for Your Holiday Season
link to other products if applicable
Sources:
Zen Habits: The Little Guide to Contentendedness
Welcome to the Balanced FI Podcast, episode 7! Thank you so much for listening in!
Saving from each paycheck to pay monthly and annual bills allows you to breathe easier and frees up mental space for other things. This episode is an overview of the content covered in the Bill-Balancing Bootcamp. That course will walk you through the detailed steps of finding your recurring expenses, calculating how much to save from each paycheck, and how to both set up and fund a “bills” checking account. We also talk about evaluating your recurring expenses and paring them down.
The Double Account Method is a great way to stop living paycheck to paycheck and get a month ahead on your bills. It reduces stress and provides more financial stability.
Resources:
Enroll: Bill-Balancing Bootcamp
Read: Financial Security Step 3: Save for Recurring Expenses
Read: Financial Security Step 2a: Save a Mini Emergency Fund
Download: Save for Recurring Expenses Worksheet
Sources:
KonMari
Netflix: Tidying Up with Marie Kondo
Welcome to the Balanced FI Podcast, episode 6! Thank you so much for listening in!
Using realistic examples and actual numbers, I’ll demonstrate the difference between starting to save at age 25 and at age 45. Saving earlier offers a huge financial advantage, but it’s never to late to start planning for retirement. You may have to work longer than you’d like or save more each month, but you can at least save something.
We’ll also discuss the differences between the most common retirement vehicles, as well as the annual contribution limits that may impact you.
Even if you still have debt, start or continue to contribute to retirement, especially if your employer offers a match for your contributions. Starting to save, today, will only help your future.
Resources:
Read: Begin Saving for Retirement, Financial Security Step 2b
Sources:
Investopedia: What is the Average Annual Return for the S&P 500?
The New York Times: Employees’ Retirement Plan is a Victim as Enron Tumbles
SoFi: Understanding the Different Types of Retirement Plans
Welcome to the Balanced FI Podcast, episode 5! Thank you so much for listening in!
Despite what others may say, a $1000 mini emergency fund is not enough when you’re paying off debt. You’re going to have emergencies, and they’re probably going to be bigger than that, unfortunately.
Resources:
Read: Save a Mini Emergency Fund, Financial Security Step 2a
Read: Begin Saving for Retirement, Financial Security Step 2b
Download: free Emergency Fund Tracker
Sources:
Dave Ramsey’s 7 Baby Steps
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Hip2Save: Need Extra Cash? Sell Your Stuff on Facebook Marketplace with These Tips
Welcome to the Balanced FI Podcast, episode 4! Thank you so much for listening in!
This episode dives into how and why you should track your previous spending as a tool for changing future spending. Learn what methods are available for tracking spending more easily and how to decide what you want to track.
Tracking previous expenses and continuing to track future spending is the first step in the Financial Security Steps, on your way toward financial security.
Resources:
Read: Track Your Expenses, Financial Security Step 1
Read: Save a Mini Emergency Fund, Financial Security Step 2
Read: Save for Recurring Expenses, Financial Security Step 3
Read: Calculate your Net Worth, Financial Security Step 4
Read: Create a Budget, Financial Security Step 6
Mint
YNAB
EveryDollar
Budgets Made Easy
Sources:
The Balance: The Best Personal Finance and Budgeting Spreadsheets
Welcome to the Balanced FI Podcast, episode 3! Thank you so much for listening in!
You can read the full blog post, and download the 30-Day Challenge Trackers, HERE.
Decide what type of challenge you want to start: no eating out, no spend, no buying clothes, or something else. Next, you need to decide what reward will motivate you enough to stick with the challenge for a whole 30 days.
I’ll also give you tips for success, like have a visible reminder, and discuss the importance of getting buy-in from whoever lives in your home or cares about your finances.
Resources:
Read: 30-Day Challenge + Free 30-Day Tracker
Download: the blue 30-Day Challenge Tracker
Download: the pink 30-Day Challenge Tracker
Read: 10 Ways to Make Saving Money Fun
Welcome to the Balanced FI Podcast, episode 2! Thank you so much for listening in! You can also read the full blog post.
Self-care is so important for everyone, but especially for those who are busy and overwhelmed. Once you’re aware of your need to care for yourself, you can take steps to incorporate self-care into your routine and life. This episode focuses on 6 easy ideas for self-care.
I know it’s not always easy to make time for yourself, especially as a parent, but I recently saw a Facebook post that resonated. It said something to the effect of “taking care of yourself is taking care of your kids.” That stuck with me because so many parents put themselves last, in order to put the kids first… myself included.
There are so many ways to work self-care into your life, once you become aware of your need for it. Meditation, medication, counseling, limiting social media, good sleep, and taking a break are just a few of the many options. They’re all good starting points for the journey to improving your mental and physical health.
So, if you can’t find time to take care of yourself, for yourself, do it for those who love you. Do it for those who depend on you. Do it for those who need you. Self-care is not bubble baths or grocery shopping alone; self-care is an essential part of the healthy balance between your duties and mental health.
Resources:
Read: 6 Easy Self-Care Ideas for Busy People
Read: I Can’t Afford Mental Health Care - How to Find Good Care That Fits in Your Budget
Read: 5 Free Ways to be Content
Sources:
Calm app
Headspace app
The Mindfulness app
Psychology Today: Find a Therapist
Harvard Health Blog: Astounding increase in antidepressant use by Americans
Forbes: 6 Ways Social Media Affects Our Mental Health
Headspace: Sleep hygiene tips
Motherly: Errands and showers are not self-care for moms
National Suicide Prevention Lifeline or 800-273-8255
Welcome to the Balanced FI podcast, episode 1! Thank you so much for listening in!
Financial independence is having enough invested so that you don't need to work anymore - you can live ff the interest. That's an amazing achievement, don't get me wrong... but it's just not realistic for a lot of people. Financial security is much more attainable; financial security is "having enough money to fund your lifestyle, as well as work toward your financial goals."
Financial Security Steps
I created the Financial Security Steps to help guide others through the process, with smaller goals & concrete to-do lists. This is the process my own family is following during our debt-free journey.
The Financial Security Steps are:
- Track expenses
- Save a mini emergency fund + begin retirement savings
- Save for recurring expenses
- Calculate your net worth
- Create a debt payoff plan
- Create a budget
- Pay off debt
- Save an emergency fund of 6 months' expenses
- Increase retirement contributions
- Choose your next financial goal
Resources:
Read the Balanced FI blog post Financial Independence vs Financial Security
Read the Balanced FI blog post The Financial Security Steps: Welcome!
Download the Balanced FI Financial Security Steps printable
Sources:
Yahoo Finance: What is Financial Security, and How Do You Get it?
Ramsey Solutions: What Are the Baby Steps?