Our saving starter pack, featuring episodes from Optimal Finance Daily.
Many of us have heard about how important it is to save money from the time we were young.
But are you saving enough? Would you like to save more?
How do you strike a balance between saving money and enjoying life without being broke or miserly?
These episodes from some of the web's best personal finance experts will help you learn about why saving money is important, and how you can save more to reach your personal finance goals.
Saving Starter Pack: Podcast Episodes
Here are a selection of episodes covering the topic of saving.
Feel free to select the episode which resonates the most with you, or check them all out to gather the tips you'd most like to apply in your own life!
1. Derick Van Ness on A Savings Strategy that Works
If you're new to personal finance and overwhelmed by all the different terms and concepts, this episode will set your mind at ease. Derick explains in simple terms why saving needs to be a first priority, and shows you in very clear examples why this strategy works. Remember the advice from this episode if you can't remember all the other tips about saving.
2. The Finance Twins on Your Personal Savings Rate
Your personal savings rate is a big part of how you budget. In this post, The Finance Twins refer to a monthly personal savings rate as “the proportion of your after-tax income that you save or invest.” A lot of personal finance is behavioral — this episode will show you why your personal savings rate will serve as a buffer against lifestyle inflation and other spending patterns.
3. Chris Reining on Saving and Lifestyle Choices
What do you think of the average U.S. wedding cost being about $35,000? Check out this episode to learn more about how lifestyle choices impacts your savings and personal finance journey.
P.S. Chris mentions the documentary 112 Weddings (currently available on Kanopy if your library has access to it) in this episode. It's an intriguing look at weddings and how, in Chris's words, “having an expensive wedding doesn’t mean you’re going to have a happy marriage.”
4. Michelle Schroeder-Gardner on Emergency Funds
Why do you need an emergency fund, and what is it used for? Michelle shares how many months' living expenses her emergency fund is able to cover, and why it's always a good thing to have.
P.S. Having an emergency fund would put you in the 39% category of Americans who could pay for a $1,000 emergency expense.
5. Philip Taylor on TV, Money, and Your Lifestyle
TV costs us time and money. Philip shares how to limit your TV watching and get the best deal you can when it comes to packages.
6. Ariel on Saying No to Money
Ariel found that the stress to constantly make money was actually causing her and her husband to spend more than they should have. Listen to what she learned when she started saying ‘no'.
7. Women Who Money on Savings Goals to Focus On
Women Who Money share a few savings goals that should be your priority. Learn about retirement savings, an emergency fund, and paying off high-interest debt.
8. Robert Farrington on Personal Finance Rules to Live By
Robert lays out five personal finance rules that you should never waver from. Rule #1 is to keep your finances organized!
9. Jeff Rose on Long-Term Savings Plans
Long-term savings plans might not necessarily feel good in the short term, as you tend to see the results over a greater span of time. Certified Financial Planner Jeff Rose explains how saving up for a down payment and saving more for retirement are smart moves.
You may find Part 2 of Jeff's episode on Episode 1243.
10. Nick True on 3 Habits That Are Costing You Lots of Money
Small habits can turn into huge eye-watering costs. Nick shares several short but powerful charts. As one of the comments (by Steven) put it: “This is one of the best articles I’ve read on the power and importance of controlling daily habits.”
You may find Part 2 of Nick's episode on Episode 1311.
Where Do I Go From Here?
We hope you've enjoyed this saving starter pack.
Let us know which episode or tips were your favorite from this list, and what you plan on doing to make improvements on how you save money.
Editor's Note: We have six shows in our podcast network to optimize your life in multiple areas (health, personal finance, and more).
To learn more, visit our “start here” page or click on each logo below to learn more about each show!