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Coffee ISN’T Killing Retirement - Fixing the Problem With Opportunity Cost - Ep #34
Have you ever heard this: "If you just give up your daily Starbucks or coffee, you could become a millionaire"? In other words: "Your coffee habit is costing you your financial future!" Well, Jay isn't too sold on this overused "financial tip." The coffee example misses the mark in a big way! This is despite the likes of Suze Orman, Dave Ramsey, Graham Stephan, and Kevin O'Leary all preaching this example to teach opportunity cost. We need to consider opportunity cost in a productive way to reconcile example with real life. How can we do this? Jay is going to tell you all about it in Episode 34 of the HopeFilled Financial Podcast.
Videos Reviewed:
1) Suze Orman on CNBC: https://www.youtube.com/watch?v=z5pW7bFcVN4
2) How Money Works Clip: https://www.youtube.com/watch?v=sONZNcqiofQ
Today's story is a little sentimental. Jay explains how he saved up to buy a Buzz Lightyear costume as a little boy. Jay's parents tired to turn this desire into a financial life lesson that has stuck with Jay for over two decades. What lesson did Jay's parents make? Listen to find out!
The budget tip of the day is to get a month ahead if you have variable income. Getting a month ahead on your income can be helpful to break the paycheck-to-paycheck cycle, but it is even more freeing when you have variable income. This can make budgeting much more practical for you. Listen to find out how!
Our listener question asks how you should pick your first car. You don't want to miss Jay's favorite resource for researching used cars: CarComplaints.com. In Jay's answer, he will go through the fundamentals of picking out your first car and how to use CarComplaints.com. If you are looking for a car, this answer can change your financial future for the better!
Please don't forget to like, share, and subscribe! Doing so helps us grow and share HopeFilled financial wisdom. We release a new full episode every Tuesday!
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.
Our Website: HopeFilledFinancial.com
Music: "Take Me Higher" by Jahzzar
Music Copyright License: This music is licensed under the Creative Commons Attribution-ShareAlike 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/b... or send a letter to Creative Commons, PO Box 1866, Mountain View, CA 94042, USA.
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