Investopedia Gives 'Interesting' Money Advice for Newlyweds - Full Episode #23

Episode 23 of the HopeFilled Financial Podcast is for all the newlyweds out there! This Investopedia article, "Managing Money as a Newly Married Couple" (see link below), covers options for how to deal with finances as a newly married couple. Th article dives into the pros and cons of managing money jointly, separately, or a combination of both. Jay expands on agreements, and refutes the advice that is not compatible with frugality. Do you agree with Jay's reaction? Let us know in the comments below!

Article: https://www.investopedia.com/articles/personal-finance/030716/managing-money-couple.asp

In today's story, Jay shares how he and Amanda disagreed about moving all of his childhood toys to Utah and back. What was the frugal choice in this scenario? Should Amanda have had a vote on the matter before they were married? Would you have moved the toys?

The budget tip is to only spend money out of one place so that tracking your spending and reconciling your budget is much easier. If you have too many means of spending that you use regularly, your tracking can become complicated or time consuming. If you had to check 10 different spending accounts, how often would you update your budget throughout the month? Would you update your budget at all?

Today's listener question discusses the pros and cons of renting vs owning a home. Does renting feel like throwing your money away to you? Should you buy a home with only 3% down? Does the frugal choice change depending on long-term vs short-term housing? What is PMI? When you retire, do you want to own a home without a mortgage?

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Disclaimer: This podcast serves as educational entertainment only. Any and all opinions relating to real estate, law, taxes, insurance, and/or securities investing that may be contained within this podcast should not be interpreted or implemented as recommendations nor advice. The opinions related to these topics – especially those regulated by state and/or federal entities – should never be taken as replacement for advice from a competent, licensed professional. HopeFilled Financial Coaching is not liable for any individual acting on any understanding of topics directly or indirectly related to real estate, legal practice, taxes, insurance, or investing even if an individual in question changed their understanding after listening to this podcast. All listeners are entirely responsible for seeking advice from licensed professionals before taking any action of their own.

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Music: "Take Me Higher" by Jahzzar

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