Afford Anything

Category: Personal Finance 101

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#478: Buy the Damn Guac, with Jamila Souffrant

Ever skipped that extra drink, pricey cheese, or a night out for the sake of your wallet?

If this feels familiar, then you’ll appreciate today’s episode with Jamila Souffrant.

Jamila is a Certified Financial Education Instructor, podcast host, and author, guiding us on making savvy choices to save while still having fun.

Jamila explores the power of understanding our “why not,” staying motivated on our financial paths, shaping a success-bound mindset, and posing THREE crucial self-assessment questions for goal alignment

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#477: Ask Paula: Investing for the Future vs. Paying Down the Past

Kayla is torn between paying off a loan early or catching up on missed retirement contributions.

Josh wants to retire early and meets the threshold for zero capital gains taxes. Should he put all his retirement savings into a brokerage account?

An anonymous caller wants to know how to merge financial lives with her husband from another country.

Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.

Enjoy!

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#474: Surviving a $35,000 Credit Card Scam, Job Loss and Foreclosure, with Tiffany Aliche, The Budgetnista

When Tiffany Aliche was in her 20’s, she fell victim to a credit card scam.

A crafty swindler convinced her to take out a cash advance against her credit card for $35,000. He said that he’d invest the money and produce Bernie Madoff- style returns. She was an inexperienced investor. She believed him.

She never saw that money again.

Aliche worked at a preschool. She didn’t make much money to begin with. But matters worsened when the school shut down, and she lost her job. She fell behind on mortgage payments and lost her condo.

In order to recover from such huge setbacks, she had to grapple with an enormous sense of financial shame.

Today, financial educator Tiffany Aliche, better known as The Budgetnista, shares how she overcame financial shame.

She talks to us about the opposite of shame, which is a sense of financial wholeness. And she discusses practical tips for how to navigate the challenges of debt and scams.

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#473: Ask Paula: How to Pay Off a $8,000 Medical Bill Without Going Broke

Sarah has cash to pay a $8,000 medical bill but she’s reluctant to drain her savings. Should she sign up for the hospital’s interest-free payment plan?

Jennie is an independent consultant but gets paid as a W-2 employee. Without access to a SEP IRA or a 401k plan, is there another option to save for retirement?

An anonymous caller is wondering how to run a cost-benefit analysis on pursuing a graduate degree.

Brian is getting inundated with spam calls as a real estate investor. Is there a way to stop the madness?

Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.

Enjoy!

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#471: Ask Paula: I Came Into A Lot of Money. What Should I Do With It?

Bob split a $350,000 windfall between savings and paying down his mortgage. But now he’s wondering if he made a good choice. Can Paula and Joe do the math to justify his gut-driven decisions?

Julia wants to tap the equity from a second home to buy a third home in Texarkana, Texas. Is this a good plan?

Joey Jr. wants to retire early, put two kids through college and buy a vacation home within the next five years. How can he afford to do it all?

An anonymous caller wonders if $1 million is a good budget for a retirement pad.

Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.

Enjoy!

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#469: Ask Paula: Feeling FOMO About Your Home Equity? Here’s What to Do

Lindy feels like her $300,000 of accumulated equity could be put to better use. But she doesn’t want to buy more real estate right now. What’re her options?

Katie wants to become a landlord in her home state but she’s concerned about the effects of redlining. Should she look into Section 8?

Claudia lives in Germany and wants to buy an apartment in Manhattan. But she knows nothing about US real estate. Where does she start? 

I tackle these questions in today’s episode.

Enjoy!

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#468: How MICE Impacts Your Money, with Bryan Kuderna

Money management is all about setting priorities.

Maybe you have the twin goals of sending your kids to college while also saving enough for retirement.

And maybe you’re struggling to figure out how to balance the two.

Today, Bryan Kuderna, a certified financial planner, shares a framework for helping us set priorities.

We talk about the importance of economic literacy, in addition to financial literacy. We discuss how retirement has changed throughout history. And we apply those broader lessons to how you think about retirement.

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#463: Ask Paula: Student Loan Deferment HACK – How Christina Saved $60,000 in Interest

Christina recently slayed her debt and put herself on track for financial success. But now she’s bored. How can auto-investing be more exciting?

Speaking of debt, Christina shares a creative HACK to SAVE $60,000 in student loan interest payments. 

Mary is struggling to compare two job offers: one from a large corporation and another from a tiny business. How should she decide?

An anonymous caller wants to buy a different home, and convert his current home into a rental. How should he finance this move?

Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.

Enjoy!

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#461: Ask Paula: A Year Off Work, a Career Change, and a Divorce: How to Make It Work

Today we’re featuring a special episode recorded LIVE in front of an audience at Podcast Movement, an industry conference in Denver.

Former financial planner Joe Saul-Sehy and I tackle two questions in today’s episode. Our first question comes from a soon-to-be-single-mother on the precipice of divorce. How should she navigate this financially?

Our second question comes from the spouse of a Purple Heart veteran of the war in Afghanistan. She and her husband would like to take a one-year sabbatical from work when they turn 40, which is in five years. They’d also like to pivot into lower-paying but more enjoyable careers. How should they map out their money for this transition?

Joe and I dedicate this episode, recorded live on stage, to answering these two questions. Enjoy!

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#459: Ask Paula | 10-Year-Old Asks: How Do I Save for My First Car?

Andrey is a savvy 10-year-old wondering what’s the best way to save up for his first car.

Ingrid wants to know if her parents’ preference for Retiring on Dividends is a better approach compared to the 4 Percent Rule.

Erica’s part-time work schedule will place her in an unusually low tax bracket this year. Should she take this rare chance to execute a Roth conversion? Or is it better to prioritize debt payoff?

Chloe is worried about the end of student loan forbearance. Should she pull back from making retirement contributions to focus on debt payoff?

Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.

Enjoy!

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Afford Anything