BiggerPockets Money Podcast: Changing How You View Money so You'll Need Bigger Pockets

By BiggerPockets | Mindy Jensen & Scott Trench

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Love This Show! A Must-Listen
 Aug 21, 2018
Scott and Mindy do such an amazing job covering so many great approaches to financial freedom and excellence, starting from so many different vantage points, methodologies, investment and cost cutting tactics, it's such a breath of fresh air for the world of financial podcasts!

Description

For those who have money… or want more of it. Join Mindy Jensen and Scott Trench (from BiggerPockets.com) weekly for the BiggerPockets Money Podcast, the show you need to listen to if you have money or want more of it! Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and grow wealth.

Episode Date
#34: The Low-Stress, Surprisingly Simple Way to Pursue Financial Freedom with Andy Hill
01:03:58

On today's show we discuss the highest-probability way that a family can move toward financial independence—without stress and worry—while enjoying incremental freedoms along the way.

We’ll also talk about all-cash real estate investing, where to park your money as you save up for a large real estate investment, and how families can find ways to cut back in spite of having expensive kids to care for.

Andy Hill usually plays the role of interviewer, but today he's switched seats to share how he strengthens his family tree and lives financially free. Are you looking at financial freedom and wondering if it’s possible with a family? Then this is the episode for you!

Links from the Show

 

Aug 20, 2018
#33: From Debt to Financial Freedom While Active Duty Military with Stuart Grazier
01:02:43

Stuart Grazier joined the military and immediately went into debt. A chance encounter with Dave Ramsey’s Financial Peace University showed him how to manage his finances, and he returned from his stint overseas with his more than $40,000 in debt paid off!

His wife had roommates while he was overseas, and they continued to have roommates when he returned, House-Hacking to cover his mortgage so he could stockpile his cash.

Attending a local real estate meetup introduced him to someone looking for private loans, and his stockpile of cash provided him the ability to create private loans — earning 12 percent interest on his money.

Stuart discusses his successes and failures in real estate investing, his transition to rental properties, and what he’s planning after he separates from the military.

Feeling stuck at your job and looking to fix your financial future? This is the episode you need to listen to.

Links from the Show

Aug 13, 2018
#32: Financial Freedom Through Small Life Changes and a Modest Real Estate Portfolio
01:09:03

Today we sit down with Mr. and Mrs. Planting our Pennies, or Mr. and Mrs. PoP for short. Mr. PoP never wanted to be anchored to an inflexible job. Mrs. PoP never wanted to be financially insecure.

A reward trip to Hawaii after a good sales year at his job led Mr. PoP to the internet where he found Early Retirement Extreme and Mr. Money Mustache. Mrs. PoP ran the numbers and discovered that their target number for a mini-retirement really wasn’t that hard to reach. A few more calculations showed her they could work slightly longer and quit working their traditional jobs forever.

This episode truly showcases that anyone can achieve financial freedom. Small tweaks to your spending can yield huge rewards fairly quickly.

Wondering if you can reach financial freedom? This episode will show you how.

Links from the Show

Aug 06, 2018
#31: How to Boost Your Income & Investments for a Faster Route to Financial Freedom
01:00:52

Continuing where we left off from last week’s episode, this show discusses increasing your income by recognizing existing opportunities and making your own opportunities through side hustles.

The show progresses through investing basics, both traditional stock market investments as well as real estate investing. (This is BiggerPockets, after all.)

Do you have your spending under control? This is the show that takes you to the next step in your journey—increasing your income to grow your wealth.

Links from the Show

Jul 30, 2018
#30: How to Cut Expenses for a Faster Route to Financial Freedom
01:01:43

We’ve interviewed more than 30 people for the BiggerPockets Money Podcast over the course of this year — and we’ve got a LOT more people to interview!

We’ve heard from so many  listeners: “I’d like to get started on the path toward financial freedom, but I don’t know where to begin."

Today, Scott and Mindy share EXACTLY how you get started with tracking your spending, and how to make SIGNIFICANT cuts in your budget to move you down the path faster.

Looking to become financially free? THIS is the episode you need.

Links from the Show

Jul 23, 2018
#29: From $200,000 in Student Loan Debt to $150,000 Net Worth in 3 Years with Nick and Alyssa Parros
01:14:00

Nick and Alyssa were high school sweethearts, who went to college where their family attitudes toward money came to light. Nick’s “save up for it” mindset saw him graduate with around $50k in student loan debt, while Alyssa’s more spendthrift attitude towards the college lifestyle had her graduating with $80,000 in debt—and her graduate degree piled another $60,000 on top of that.

They got married and quickly discovered their vastly different views on money.

Through budgeting, communication, spreadsheets and more spreadsheets, they are now on the same page and working toward financial freedom. Their curveball pregnancy didn’t derail them—it strengthened their resolve to get to FI through real estate and traditional investments.

Links from the Show

Jul 16, 2018
#28: How Anyone Can Easily Make Extra Money Using Side Hustles with Nick Loper
01:11:28

Side hustle is a huge buzzword in the FI community. Make extra money on the side doing something fun, something you love, or even just something that pays really well.

Today we bring in Nick Loper, Founder of Side Hustle Nation, to share his expertise about side hustling: What they are, who they’re for, and how to implement one of your own. Nick also shares some of his favorite side hustles, including some surprisingly easy ways to make money.

Looking to increase your income? You MUST listen to this episode!

Links from the Show

Jul 09, 2018
#27: How to Get Even MORE from Your Travel Rewards Credit Card with Lee Huffman
01:14:26

Open up a credit card, earn miles, get a free plane trip or hotel room. Sounds great, right? But what if you could exponentially increase your travel rewards? Fly free every time. Never pay for a hotel room again.

Lee Huffman travels the world in luxury with his family using travel rewards for less money than your economy vacation. He’s an expert in travel rewards, credit cards, and personal finance. Today, Lee shares how you can save on your next vacation using travel rewards - and how to squeeze every drop of value out of those rewards!

Links from the Show

Jul 02, 2018
#26: Graduating College on Track for Financial Independence with Cody Berman
01:17:40

Cody Berman: Remember that name because this kid is going places. Currently traveling in Australia, Cody began his journey into personal finance and intentional living as a child, when his dad taught him about compound interest and the power of saving and investing. By age 14, he'd already saved up $15k, and by the time he reached college, he was diving into entrepreneurship, side hustles, and financial independence plans.

Today, Cody runs a company that manufactures disc golf discs and has afforded himself the freedom to travel with his girlfriend. With an ultimate strategy for complete financial independence in the works, he plans to reach a point where he is able to spend time as he wishes, pursuing his various interest and entrepreneurial pursuits.

If you're looking to inspire yourself, your kids, or any ambitious young people you know to make the small changes that will dramatically affect the future, don't miss this episode.

 

Links from the Show

 

Jun 25, 2018
#25: Raising a Family While Seeking Financial Freedom with Chris and Debbie Emick
01:06:35

Chris and Debbie Emick have two daughters—AND are well on their way to financial independence through a combination of local and long distance real estate investing coupled with frugality and conscious spending.

Chris and Debbie are everyday Joes living the dream in small-town Colorado. Debbie home schools their two daughters and manages their rental property business from home, after her 14-year career in teaching. Chris is a passionate leader to his team of network engineers by day and organic gardener/personal finance extraordinaire by night. Their home base is rural Southeastern CO, where they can go for dirt-road runs and trafficless drives while still being able to make quick mountain trips for hiking, backpacking, and skiing.

This is the first in a periodic series of interviews with families who are on the path to financial freedom.

Links from the Show

Jun 18, 2018
#24: Getting Financially “Naked” with Your Significant Other — With Erin Lowry
01:08:11

Erin’s parents taught her about money from a very early age. She paid for half of everything she wanted, which helped her figure out financial prioritization. When it came time for college, she decided against her dream college to avoid significant student loan debt by attending a college based on scholarship.

Basically, Erin set herself up for a good financial future. But most people are not taught about money, and they do not make such sound financial choices.

Today Erin talks about getting financially "naked" with your significant other. She shares advice for bringing up the subject of financials, being gentle with the discussion, and how to separate deal breakers from those financial issues that are just unfortunate.

Links from the Show

Jun 11, 2018
#23: A Mini-Retirement Road Trip in Your 20s with Becky & Noah
55:39

Becky and Noah are in the first half of their gap gear, a pre-FI road trip around America.

They didn’t grow up rich, but they carefully planned out their life to avoid student debt. Both earned the same Chick Evans Caddie Scholarship to Purdue University that paid full tuition and came with housing. They made smart career choices earning employable, in-demand degrees that allowed them to earn high salaries.

After discovering FI on Reddit, they made a few tweaks to their lifestyle, quit their jobs, and hit the open road.

This episode shows that financial independence isn’t just a pipe dream, and while Becky and Noah aren’t there yet, they are well on their way.

Links from the Show

Jun 04, 2018
#22: How to Pay Off 6-Figure Student Loans While Pursuing Financial Independence with Travis Hornsby
01:09:05

Student loan debt is a HUGE problem facing millions of people - and it continues to grow every year. Today we are joined by Travis Hornsby from Student Loan Planner who shares several options for paying back your student loans, including loan forgiveness.

Travis shares his rule of thumb for deciding whether to pay off your loans or take the forgiveness route, and tips for refinancing your student loan debt. He also gives future college attendees a few things to consider BEFORE choosing a major.

This episode is for anyone with student loan debt - or anyone with kids facing this choice. Travis also shares how you can still pursue Financial Independence while paying down your student loans.

Packed with actionable advice, this is an episode NOT to be missed!

Links from the Show

May 28, 2018
#21: How Losing 260 Pounds Spurred Job & Investing Success with Tony Gayden
01:14:46

Tony Gayden grew up in a lower middle class household where money and finance were not discussed. He sought comfort in food, eventually reaching 476 pounds and drowning in debt. In this episode, Tony shares his weight-loss journey and how he parlayed the lessons and discipline he learned into successful debt reduction and finally starting to invest.

Today, Tony works at his dream job with no plans to quit, but uses his investments to protect himself should his circumstances change.

Links from the Show

May 21, 2018
#20: The Simple Path to Wealth—Index Funds Explained with JL Collins
01:17:01

Jim Collins has literally done it all. From busboy, produce, clerk, and gas station attendant, to ad agency founder, sales trainer, radio co-host, and publisher. He is a prolific world traveler, having visited more than 30 countries on five continents via motorcycle, car, train, plane, boat—and even elephant.

Jim has lived a very good life. And along the way, Jim has learned that money is a tool that can offer the freedom to live the life you want to live.

He’s also figured out that there is a very simple path to wealth. While you can make money picking individual stocks, the index fund is a very easy way to grow your wealth in the stock market without spending time researching companies.

This episode truly is the show for anyone who has money or wants to have more.

Links from the Show

May 14, 2018
#19: The Ultimate Real Estate Retirement Plan with Chad Carson
01:10:01

Chad Carson has never had a “real job.” Instead, he has parlayed his experience helping with his father’s rental business into his own real estate rental business.

Now, Chad owns enough real estate that he’ll never have to work at a real job. In fact, when we spoke to Chad, he called us from Ecuador — where he’s been living for a year in order to submerse his children in the Spanish language. His rental business ran itself while he was away. He was able to take an extended vacation and truly delve into the area — and now his children are bilingual!

Chad’s take on “mini” retirements is very interesting. He obviously loves what he does, but he also enjoys spending time with the people who matter most: his family. Real estate provides him the opportunity to work at his own pace.

This episode gives you an alternate look at early retirement — it doesn’t have to be permanent.

Links from the Show

May 07, 2018
#18: Accessing Retirement Funds Before Age 59½ with The Mad Fientist
01:31:29

Early retirement is a goal many people have. Diligently saving for retirement age to fund your life after you stop working is great, but the same programs that help you avoid taxes while saving come back and hit you with taxes AND penalties if you access those funds early.

But wait! The Mad Fientist made it his mission to figure out how to reduce his taxes—or eliminate them altogether AND avoid penalties.

In this episode of the BiggerPockets Money Podcast, the Mad Fientist shares 3 ways to access your retirement funds before the typical age of 59½. He breaks these concepts down so they’re easy to understand and put into practice.

This episode is a must-listen for anyone who’s thinking about retiring at any age.

Links from the Show

Apr 30, 2018
#17: Building a Lean Business With (Almost) No Capital with Alan Donegan
01:09:20

On this week’s episode of the Biggerpockets Money Podcast, we chat with Alan Donegan.

Alan Donegan watched - and helped - his father run a super-successful sportswear company, until the economy shifted and they lost everything.

Determined to not follow this path, Alan got a job. Then another and another and another. He couldn’t find anything he wanted to do -  so he created his own job, teaching people how to create theirs.

Taking lessons from his father’s experiences, Alan teaches entrepreneurs how to start really  small and test the idea before jumping in with both feet. If you have an entrepreneurial itch, this is a can’t miss episode.

Links from the Show

 

Apr 23, 2018
#16: Financial Security Through Passive Income with Joel Larsgaard
57:58

As a kid, Joel Larsgaard watched his parents work jobs they didn’t like to pay for things they didn’t need. They missed out on some of the priceless moments that life has to offer, culminating in bankruptcy when Joel was 12.

We discuss how that unfortunate event permanently altered Joel's view about money and shaped his entire future. This experience led him to pursue multiple passive income streams, so he never has to go through that again.

 

Links from the Show

Check the full show notes here.

Apr 16, 2018
#15: The Pillars of FI, Pt. 2: Designing the Life You Want with Brad Barrett and Jonathan Mendonsa from Choose FI
47:52

This is the last half of the epic interview with Brad and Jonathan from Choose FI.

Continuing where we left off from last week, we finish up the Pillars of FI conversation, including beginner level topics you can be doing such as frugality and index fund investing but also touch on more advanced topics like tax optimization and travel hacking.

If you have not yet listened to part one, you can find that here

This episode - along with last week’s part one - is a must-listen for anyone on the path to FI, or just getting started.

Links from the Show

Listen to the episode on BiggerPockets

 

Apr 09, 2018
#14: The Pillars of FI: Designing the Life You Want with Brad Barrett and Jonathan Mendonsa from Choose FI
59:27

On today’s epic show, we speak with Brad Barrett and Jonathan Mendonsa from Choose FI. Brad and Jonathan share their pillars of financial independence — the 10 things you need to do in order to achieve FI.

We cover beginner-level topics such as frugality and index fund investing, but we also touch on more advanced topics like tax optimization and travel hacking.

This episode went so long — and contained such fantastic information — that we simply could not squeeze it into a regular show. So we didn’t. We made it a two-part episode so we didn't miss a moment with Brad and Jonathan.

Links from the Show

Click here to check the full show notes.

Apr 02, 2018
#13: Achieving FI Before 40 Despite Breaking Every Financial "Rule" with Tanja from Our Next Life
48:02

Tanja reached financial independence (FI) and retired from her full-time, high-stress job at age 38—despite not being a natural saver, having purchased two brand-new cars in the past, and not maxing out her 401(k) in the beginning—pretty much breaking every FI “rule” out there.

Tanja was not focused on early retirement or financial independence when she met Mark, but quickly got on board. Her 60-hour-per-week job took up all her time and "brain space,” and more than 100 plane trips per year made it very easy to increase her savings rate to be able to achieve her goal.

Hear how she reached financial independence and parlayed that into early retirement in today’s episode of The BiggerPockets Money Podcast.

Mar 26, 2018
#12: How to Become an “Overnight” Success in 10 Short Years with David Greene
01:01:19

While David Greene is a long-time real estate investor, best-selling author, and one of the top real estate agents in California today, his career started in the most unlikely of places—as a busboy at a restaurant.

Learning how hard work and hustle, combined with a willingness to identify and serve the needs of others, took him from busboy at a restaurant to a college graduate with $95,000 in investable liquidity. After becoming a police officer, David Greene began building a real estate portfolio on a median income in one of the most expensive markets in the country—the Bay Area in California.

David’s approach of extraordinary frugality, discipline, adaptability, and competitiveness have launched a superstar career. If you want the same for yourself, be sure to listen to today’s show.

Links from the Show

Check the full show notes here.

Mar 19, 2018
#11: Financial Freedom in Less Than Five Years with Joel from FI 180
01:13:16

Joel and his wife were barreling down the wrong financial path - saving nothing and spending more than $100,000 every year.

A freak car accident literally changed the direction of their lives by causing them to re-evaluate and decide on what was truly important in life. In five short years, they went from a negative savings rate to saving 85% of their income, allowing Joel to quit a job that was making him miserable.

They did this by making regular changes to their spending, and cutting out the things that weren’t actually making them happy, alongside shedding poor “investments” they had previously accumulated, and sticking to a strategy of simple, long-term index fund investing.

This episode is for anyone who earns an upper-median income, yet feels stuck and unable to get ahead. Joel will show you how to make the tough changes that will ultimately lead to more happiness, more freedom, and a stronger financial position.

Links from the Show

Click here for full show notes.

Mar 12, 2018
#10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames
01:04:27

In March, 2014, Liz and her husband made the conscious decision to stop their big city, big spending lifestyle, and adopt a frugal mindset in order to realize their new goal of moving out of the hustle and bustle and into the woods.

Their 180 turn took them from dinners out every night to 66 acres in the woods of Vermont, where they happily raise their daughters and live the life they want - with no stress, no financial strains and ultimate financial freedom in just over two years, by May 2016.

This is a must-listen episode for anyone curious about what it takes to make this lifestyle  change.

Links from the Show

Check the full show notes here.

Mar 05, 2018
09: Financial Independence at Age 30 (by House Hacking + Side Hustles) with Drew from Guy On Fire
54:44

What would happen if someone had early financial independence in mind right out the gate, upon graduating college? Imagine the amount of money that person could stockpile... Today’s guest had exactly that in mind, and made the kind of decisions that will allow him to retire early (maybe even in his twenties!!!).

Meet Drew, the “Guy on Fire.” At age 27, he has already accumulated four properties with seven units in the hot Washington DC housing market. He makes the numbers work, and work well, and is reaping the financial rewards of some sweat, self-education, and side-hustles so he can exit the workforce and live the life of his dreams.

Don’t miss this inspirational and totally-repeatable episode with Drew!

Feb 26, 2018
#08: From Financially Perfect to Rock Bottom (and back again) with Tiffany “The Budgetnista” Aliche
52:39

Tiffany Aliche grew up talking about money. Her dad was an accountant,  her mother actively  engaged the children in grocery  shopping and other areas of finance. She was a teacher at a private school and had just bought her first house.

Then she met a “friend” who convinced her to invest in his get-rich-quick scheme. Promised future returns led to foolish spending. The economic downturn led to a lost job, and in turn a lost home.

Bouncing between family members, Tiffany had a revelation: “I need to take responsibility for my past actions, and turn my life around.”

Tiffany took the necessary steps to repair her finances, and then started teaching others how they could fix their finances, too.

She’s turned her financial courses into a network of financial resources - including a 350,000+ member facebook group where you can ask and answer questions or get support during your journey.

This show is for anyone who is sick of making bad financial choices, and wants to turn their life around.

Links from the Show

Full show notes here: https://www.biggerpockets.com/moneyshow08

Feb 19, 2018
#07: How Breakfast Food Motivated Financial Freedom with Mr. and Mrs. Waffles on Wednesday
01:07:12

Mr. and Mrs. Waffles on Wednesday (WoW) were doing everything wrong. They ran up ridiculous tabs at a local restaurant/bar just ‘hanging out,’ while getting abysmal returns from their financial planner - and paying 1% for this terrible advice.

Disatisfaction with 5% returns while the market saw 25% returns spurred a Google search, which landed them on a website that told them exactly how to invest in the stock market (hint: Index Funds). This site also introduced them to the concept of early retirement.

Mr. WoW convinced Mrs. WoW to hop on the FI train with the lure of unlimited travel which led to a financial about-face and expense tracking, which led to the realization that they spent far too much money on things that didn’t matter.

Hear how Mrs. WoW’s self employment gave their FI journey a jumpstart through tax hacks like write-offs and business expenses.

This is an awesome episode!

Links from the Show

Check the full show notes here

Feb 12, 2018
#06: Fearlessly Paying off Massive Student Debt on $30,000 per Year with Sarah Wilson
30:58

Are you tired of hearing success stories from folks who are earning $60,000, $80,000, or even $100,000 or more paying off debt and moving toward financial freedom? Where’s the inspiration for the folks out there that do not earn above average incomes? Look no further than today’s guest for that inspiration.

Sarah Wilson paid off $33,000 of student loan debt. Why is this a big deal? Because she did it while making less than $30,000 a year!

Not even considered a “living wage” in most places, Sarah was able to save more than most people in general EVERY YEAR for several years while she ferociously annihilated her debt. If you want some serious motivation to get out of debt and start building your net worth regardless of salary then this is the show for you. Fair warning: This approach is not for the faint of heart.

From the floor of FinCon 2017, we are excited to bring you, Sarah Wilson a.k.a. “YouTube’s Budget Girl.”

Links from the Show

Check the full show notes here: http://biggerpockets.com/moneyshow06

Feb 05, 2018
#05: Jump Starting your Early FI Plans by Live-in Flipping with Mindy Jensen
50:20

Mindy was born in a small town, and then she moved and moved and moved. In fact, moving doesn’t phase her at all, which plays right into the core component of her investment strategy -- The Live-In-Flip. Mindy moves every two years to take advantage of the IRS gift of paying zero capital gains taxes on the sale of her primary residence (up to certain limits).

Mindy shares her wealth of experience with this process, both in a practical sense with DIY tips and tricks and smart financial analysis, and also shares the impacts that this process has on her family life.

Listen to this episode for a different twist on hacking your housing and discover how a family can use the Live-In-Flip to round out a financial plan capable of bringing about early financial independence.

Links from the Show

Jan 29, 2018
#04: From Disorganized to Debt Free Through Budgeting and Routine with Rosemarie Groner
54:58

Rosemarie Groner was a State Trooper - a good, recession-proof job. Chronic disorganization led to more than $30,000 in consumer debt when she made the decision to quit her job to stay home with her first child.

In this episode of The BiggerPockets Money Podcast, Rosemarie shares how she cut $23,000 out of her spending, paid off her debt in less than 4 years, and grew her income to the point that her husband could also quit his day job.

Rosemarie gives you actionable tips for establishing routines that will help get you organized so you can focus your energy on your budget - not your day to day tasks.

Jan 22, 2018
#03: Cutting Your Grocery Bill in Half with Erin Chase from $5 Dinners
51:49

As a mom of (then) two, Erin Chase found herself shopping for groceries without a plan, picking up things that sounded good, but no idea what she’d do with them once she got them home. They made their way into the refrigerator, then on to the trash after they rotted. She knew she had to significantly cut her grocery bill if she wanted to get ahead.

In this episode of The BiggerPockets Money Podcast, Erin shares how she cut her grocery bill in half - while adding two more kids to the mix. She gives actionable tips for significantly reducing your grocery bill - without clipping coupons!

Don’t miss this awesome episode with Erin!

Links from the Show

 

Jan 15, 2018
#02: An All-Out Approach to Financial Independence at an Early Age with Scott Trench
01:00:50

Scott Trench wanted something more out of life, so he grabbed it by the horns and pointed it in the direction HE chose. By accumulating a large financial runway through a 50% savings rate on a median income, he gave himself the courage to take calculated risks, like “hacking” his first house and transitioning out of a nice, safe corporate job to work at a risky internet startup.

Scott talks about the benefits of a four-pronged approach to improving your finances, from achieving a high savings rate and increasing income to investing in traditional assets like real estate and stocks—and, of course, creating new assets and opportunities. What’s more, Scott believes this approach is repeatable for many others who have the discipline to begin the journey by achieving a high savings rate and the courage to use their growing financial resources to seize life’s opportunities as they present themselves. Listen up for an approach to life and money that may enable to you to retire decades earlier than your peers—with more money in your bank account, having perhaps had far more fun along the way.

Links from the Show

Jan 08, 2018
#01: The Surprising (Scientific) Truth Behind What Makes You Successful with Mr. Money Mustache
01:00:44

On this first episode of the BiggerPockets Money Podcast, we speak with Mr. Money Mustache (AKA Pete) about what truly makes you a happy person. (Hint! It isn't money, and it isn't material possessions.) We'll talk about shifting your mindset to pursue financial freedom, how to live for free, tips for living a frugal life, and how to surround yourself with like-minded people. Since this is BiggerPockets, real estate comes up, too.  Don't miss this inspiring episode with one of the founders of the Financial Independence movement!

Jan 01, 2018