Podcast #31: How to Get Your Finances Together in 2022
In this episode, we talk about how to get your finances together in 2022 and develop better money habits. Whether you’re a recent college graduate, a young adult, or if you’re just a human being struggling with money, give this episode a listen.
Still not convinced you should listen? Some of the things we touch on in this episode are:
- Contributing to retirement savings: what’s the difference between a 401k, Roth IRA and a traditional IRA? Should you have one or multiple retirement accounts?
- Paying off debt: should you pay off all your debt ASAP, or does it make more sense to invest the money and just pay the minimums? What’s the difference between high interest vs. low interest debt?
- Taking control of your spending: how to budget, and some resources you can use to make that easier.
- Automating investing, saving, and bill pay: when should you start to automate payments? Is there ever a reason not to?
- How to increase your credit score: actionable things you can do to get a better credit score, and how to check what your score currently is.
- Adding an income stream: saving and investing becomes a lot easier when you have more money coming in. How can you add some cash flow to diversify your sources of income? Try one of these side hustle ideas if you don’t know where to start.
- Creating an emergency fund: how much should you have in your emergency fund? Is there an upper limit that you shouldn’t exceed?
- Embracing values-based spending: what is values-based spending, and how can you embrace this financial mindset?
Listen until the end of the episode, where we share a few of our favorite financial resources and the best finance creators you should follow, like, yesterday. If you could use a kick in the pants to stop spending, start saving money, and learn how to invest like a boss, this episode is a great place to start.
Disclaimer: Jess & Laura are not financial experts, and any advice we give is based on our own personal experience. You should always consult with a licensed financial advisor before making any big financial moves.