By Paula Pant
We’re joined in-studio by David Bach, bestselling author of The Automatic Millionaire and The Latte Factor. He’s updated his most popular book (over two million copies sold) and this is his last big launch as he heads into retirement.
Together, we wrestle with a problem our listeners know well: what happens when you’ve built the […]
By Paula Pant
If you’ve ever stared at an insurance quote and wondered, “Is this really worth it?”, you’re not alone. Liability and umbrella policies can feel like an expensive mystery, especially when your net worth is growing and your risks are shifting.
In today’s episode, we dig into a listener’s dilemma about soaring liability and umbrella insurance […]
By Paula Pant
Today’s episode is a special rerun from the Afford Anything “greatest hits” vault, one that’s especially timely as we move through peak shopping season.
Originally aired in January 2020, this conversation with behavioral economist Jeff Kreisler digs into the hidden psychology behind sales, discounts, so-called “free shipping,” and all the subtle […]
Written By Paula Pant
Remember the last thing you bought ….
…. that’s now collecting dust in your closet?
You thought it was a great deal, but now it’s just making you feel guilty?
Yeah, me too.
Here’s what nobody tells you about the price tag: it’s lying to you.
That $500 treadmill […]
By Paula Pant
More than 90 percent of people who ask to get their credit card annual fee reduced are successful. Yet most people never ask.
Why? They assume the answer will be no.
Matt Schultz, the author of “Ask Questions, Save Money, Make More,” joins us to explain the psychology and tactics behind successful negotiation.
The key insight: companies want to keep your business. Banks, employers, and service providers invest in long-term relationships because it’s more profitable than constantly finding new customers.
This gives you more leverage than you might think.
For credit cards, Schultz points out that calling the retention department directly (rather than general customer service) often leads to better results. He shares his own experience of getting his $600 annual fee cut in half just by making a yearly call.
With mortgage negotiations, Schultz suggests getting quotes from 3-5 lenders on the same day, since rates change frequently. A quarter-point rate reduction on a $360,000 mortgage saves $20,000 over the life of the loan. The fees themselves can differ by $5,000 between lenders.
When it comes to workplace negotiations, Schultz recommends keeping a weekly log of your accomplishments. Note both your regular duties and times you went above and beyond. This creates a strong foundation for salary discussions.
The most effective negotiations frame requests as win-win scenarios. Instead of just asking for tuition reimbursement, explain how additional education will help you contribute more to the company. Rather than demanding a lower rent, offer to sign a longer lease that reduces the landlord’s vacancy risk.
Schultz emphasizes building relationships during negotiations. The person at the call center has likely dealt with angry customers all day. Being pleasant and making a human connection can lead to better outcomes.
The interview also covers negotiating with family members about money, choosing when to negotiate versus pay full price (like at charity shops or with small businesses), and how to time requests effectively.
The common thread: success comes from understanding the other party’s interests and finding ways to align them with your own.
This episode will show you how to save hundreds — or thousands — in your regular spending, simply by asking.
By Paula Pant
Ever feel like you’re never doing enough with your money, even when your finances look good on paper?
You’re not alone.
Katie Gatti Tassin, host of the Money with Katie podcast, dives into a phenomenon called “money dysmorphia” in today’s interview.
She shares how she got flooded with responses when she asked her listeners about money dysmorphia. Folks with hefty savings and investments still worry they’re not doing enough. It’s like they’re always waiting for the other shoe to drop.
Where does this come from? Katie points to a few culprits. Social media is an obvious scapegoat. But traditional media plays a role too. Think about all those TV shows where “normal” families live in massive houses and drive fancy cars. It skews our perception of what’s average.
Location matters too. Katie talks about how moving from Dallas to Fort Collins changed her spending habits. Different cities have different vibes and social norms around money.
The conversation takes an interesting turn when Katie shares her own experience buying a Porsche. She felt conflicted, worried her FIRE (Financial Independence, Retire Early) community would judge her. It highlights how even personal finance experts grapple with these issues.
They also touch on how the pandemic shook up financial priorities. When faced with uncertainty, some people realized saving for a far-off future might not be the only goal worth pursuing.
Katie and Paula discuss the importance of balance. It’s good to save, but not at the expense of living your life now. They suggest seeking out voices in the personal finance world to get a more rounded perspective.
Travel comes up as a way to gain financial perspective. Seeing how people live in other parts of the world can make you appreciate what you have or show you where your own country could improve.
Katie and Paula offer food for thought on how to navigate our complex relationship with money. It’s a conversation that might make you think differently about your own financial mindset.
Written By Paula Pant
Hey Gen Z friends,
Welcome to adulting and the world of personal finance! As Generation Z, you have the incredible advantage of time on your side when it comes to investing and reaching financial independence.
Leverage your youth as a time of opportunity and learning, thinking boldly about how to create the financial future you […]
By Alyssa M
Let’s talk about one of the biggest expenses you might ever encounter: health care costs.
When you get a hospital bill, do you understand it? After all, it looks like it’s written in code (and sometimes it literally is).
How do you know if the bill is accurate? Has everything been coded properly? Are you being charged for the services that you actually received?
If you need to dispute an item, what’s the process?
Pulitzer Prize finalist Marshall Allen joins us to shed light on the complex world of medical billing. He breaks down the “explanation of benefits,” describes a step-by-step process for obtaining your medical records, and explains an actionable plan for how to contest a bill.
If you’ve ever felt overwhelmed by the complexity of your health care bills, you’ll learn a lot from this concise, informative episode.
Enjoy!
Written By Paula Pant
“I only earn enough to make the minimum payment on my loans.”
“My boss doesn’t pay me enough, so I can’t save a dime.”
“I’d love to quit my job, but I don’t think that’s realistic.”
The Naysayer Brigade makes statements like the examples above — statements that give power to their bosses and the economy, […]
Written By Paula Pant
Welcome to the site, Marketplace Money listeners!
If you turned on NPR this past weekend, you might have heard me tell a musician to drink more beer. Weirdest personal finance advice ever.
But what do you expect from me? I don’t give boilerplate advice. I talk about mindset. And strategy. And beer.
[…]
