Brett opens up by defining what credit cards are, then he gets into the pros and cons of credit cards. The main pros are travel insurance, consumer protection, and rewards. The main con is the high interest rate and propensity for people to spend money they don’t have, the “poison” of personal finance, if you will. Both Brett and Lauren are using 0% credit cards right now to carry balances, but they arenusing these responsibly and will pay them off before the interest hits. Credit cards are like fireworks. If you play with them responsibly, you’ll get a beautiful show. If not, they’ll blow up in your face. How do you know which cards are best? It depends on what you’re looking for: cash rewards or travel ones. Lauren asked about annual fees, and Brett point out that you can get more value than the annual fee in most cases. Then, Brett casually drops into the conversation that he has had over 100 credit cards since he was 18, 13 years ago. Right now, he’s using his Chase Sapphire for everything, including a rental car recently in Denver. When a hailstorm rolled through, the damage was covered by the credit card! How does having so many cards affect your credit? It turns out it’s not too serious of an impact, usually 5-7 points. Lauren then asks about how credit card limits work. Interestingly, Brett points out that you can transfer credit lines to different cards with the same provider. Lauren asks Brett to explain how credit card companies make money if they’re able to give Brett all these rewards! They make money on interest, late fees, and processing fees as well. Lauren then shares a consumer protection win of her own. Brett closes by reminding people that they’re using their credit card every day. They should analyze whether they’re actually using the right one.

About Brett:

Brett Holzhauer is a self-proclaimed personal finance nerd. He currently works at Biz2Credit wherehe is a Senior Writer. Before that, he was a personal finance reporter at CNBC and Forbes. Along the way, he has been on his own financial journey. Hesuccessfully paid off $80,000 in student loan debt, while buying his first home in South Florida in 2022, bought his first investment property in 2023, and is currently under contract for his second investment property. When he isn't money nerd-ing, he is watching college football or getting tan at the beach.

Connect with Brett:

Twitter @brettholzhauer

Biz2Credit.com

Upgraded Points

Connect with Lauren:

https://www.realadultingiseasy.com/⁠⁠⁠

https://twitter.com/AdultingIsEasy

https://www.instagram.com/adultingiseasyreal/

Lauren kicks off by asking who should even buy a home. Homeownership is not necessarily always better than renting. You should consider your lifestyle and how long you want to live there. Dale believes your primary residence is an asset AND ALSO THAT YOU SHOULD PAY OFF YOUR HOUSE AS SOON AS POSSIBLE. It’s an emotional investment then, not a financial one. Lauren asks what Dale’s thoughts are about investment properties. They both agree that “primary hacking,” buying a home, living in it for a short time, then buying and moving into a new home, then renting the first one out is a good way to get started. The lowest interest rate loans are those on primary residences. Your risk tolerance is a huge factor here. The two then transition to discussing timing the real estate market. Some people just aren’t wired to build wealth. Or maybe they’re just not in the right circles. Networking with the right people is important, and also reading the right books can help with mindset. Then, they go back to discussing buying a home, and how much home you should buy. Perhaps you should look at it through the eye of primary hacking. Buy houses that would make good rentals. If buying in an HOA, make sure you’re permitted to rent the property out per the bylaws. Lastly, they talk about avoiding buyer’s remorse and taking action. Dale recommends you THINK BIGGER.

If you liked this episode, you’ll also like episode 149: Personal Finance is Personal, and so it investing.

About Dale:

Dale Wills is an experienced real estate developer who has been involved in the industry for more than 25 years. He is the owner and founder of Centra Companies, and since 2011, he has overseen the development of more than 1,500 homes. He recently established Centra Capital Partners, a real estate syndication company partnering with accredited investors to build wealth through the ground-up single-family home developments in the Midwest.

Connect with Dale:

https://centracapitalpartners.com/

https://www.facebook.com/CentraCompanies

https://www.instagram.com/centracompanies/

https://x.com/dalerwills

https://www.youtube.com/channel/UCkXyXiIUnUEFvX4mVJ4F98A

https://www.linkedin.com/in/dalerwills/

Connect with Lauren:

https://www.realadultingiseasy.com/⁠⁠⁠

https://twitter.com/AdultingIsEasy

https://www.instagram.com/adultingiseasyreal/

Estate planning is probably the least sexy topic in personal finance, but we need to talk about it. Death comes for all of us. David opens by telling us about the estate issues after his parents passed away, which made him passionate about this topic. Estate planning involves more than just wills, and it’s not just for rich people. The goal is to leave a legacy, not a mess. Professionals you need in your corner: accountant, lawyer, and financial planner. The professionals are there to help the executor settle your estate. Then, the conversation transitions from general ideas to Lauren’s situation specifically. It’s embarrassing, but she doesn’t have a will. Luckily, Lauren has encouraged her parents to get one, which they’ve just done, and she will have hers done by the end of 2024. Something else to consider: your digital footprint, like emails and passwords! David suggests having an envelope with everything your executor and beneficiaries need in it. Also, communication is key. An interesting trend is children fighting over estates before the parents pass away. Remember, that if you don’t have a plan, the government has one for you. Lauren shares a tough conversation her grandmother had about her estate going to her uncle instead of her mother. David continues the story he kicked off with, about fighting over his parents’ estate with his siblings. Even if you don’t want to go to a lawyer, do it online! Just do something.

If you liked this episode, you’ll also like episode 33: 5 talks you should have with your parents (one is about estate planning) and episode 159: what to do when you inherit a property or bequeath one.

About David:

David Edey is a Certified Executor Advisor with over 35 years of experience in the financial planning industry, specializing in estate and legacy planning. He is the author of the bestselling book, "Executor Help: How to Settle an Estate, Pick an Executor, and Avoid Family Fights," and hosts the Executor Help Podcast, guiding individuals to secure their legacies and maintain family harmony.

Connect with David:

www.davidedey.com X: https://x.com/DavidEEdey

Facebook: https://www.facebook.com/prepareyourexecutorprotectyourfamily

Linkedin: https://www.linkedin.com/in/david-edey-cea-b524342/

YouTube: https://www.youtube.com/channel/UCSpPucTHVEVN1AjXrSAl5Fg

Connect with Lauren:

https://www.realadultingiseasy.com/ ⁠⁠⁠https://twitter.com/AdultingIsEasy

https://www.instagram.com/adultingiseasyreal/⁠⁠

As the son of an immigrant, Lauren asks about how that shaped his life. Like many of us, Tony was under the impression that if you got to school and if you get a good job, you will be successful. That illusion was shattered when he was laid off. Even with a good job, it’s hard to pay even regular bills and also save money. The rules of the game have changed, and for the first time ever the upcoming generation is not better off than the one before it. Over half of young people 18-29 live with their parents. Lauren and Tony emphasize the importance of getting started, and not living in the past. Tony walks through how he got started investing in real estate. The concepts are the same and numbers you run today are the same as they’ve always been. If you’re not sure how to start, network and learn from others, whether it’s investing in real estate, businesses, stocks, or anything. Tony closes by reminding us that our goals should be our own, not anyone else’s!

If you liked this episode, you’ll also like episode 189: Fight All Day and Make Money and 174: Change Your Own Life: Make More & Pay Off Your Debt.

About Tony:Tony Lopes is first-generation American, CEO of Dirty Boots Capital, real estate professional, bestselling author, coach, and speaker. He earned a BS in Mechanical Engineering and an MBA from UMass. He worked in the defense industry for 19 years managing multi-million-dollar programs while simultaneously building a portfolio of residential income properties. His investments, coupled with his understanding of markets and economics allowed him to retire at age 44. What really drives Tony is sharing his knowledge and experience so that others can achieve financial independence and enjoy the same level of freedom he does.

Connect with Tony:

https://dirtybootscapital.com/

https://freedomatriskbook.com/

https://www.linkedin.com/in/tony-lopes-far/

https://www.youtube.com/@dirtybootscapital

https://www.facebook.com/FreedomAtRisk/

https://twitter.com/FreedomAtRisk_

https://www.instagram.com/Dirty_boots_capital

Connect with Lauren:

https://twitter.com/AdultingIsEasy

https://www.realadultingiseasy.com/

https://www.instagram.com/adultingiseasyreal/

Chrissy opens up by telling us about her new book, Ladyshark, which is all about becoming a millionaire in your 30s. Why would you want to become a millionaire in your 30s? Freedom! But does being a millionaire mean you’re successful? Not necessarily. Chrissy talks about how her father, an immigrant, shaped how she perceives the world. The two touch on networking and its difficulty and importance. In keeping on the immigrant track, Lauren wonders if immigrants actually work harder or if that’s a stereotype. Chrissy thinks it’s about the parenting style more than anything, and she’s taking a lot of cues from her parents when parenting her own children (baby ladysharks). Lauren asks Chrissy why she became a lawyer. She shares a harrowing tale of her father’s rental unit experience with a lawsuit. She helped navigate that situation and came out inspired. Chrissy also ended up investing in real estate, even after this rough experience. Lauren asks about balance, and Chrissy suggests listening to yourself and your body.

If you liked this episode, you’ll also like episode 171: Taking Over Dad’s Real Estate Business with Vanessa. We’ve also had some ladysharks on the House Money Podcast, so definitely head over there as well.

About Chrissy:

CHRISSY GRIGOROPOULOS is the founding and managing attorney of The Grigoropoulos Law Group PLLC. She is also the corporate Real Estate Broker of Property Shark Realty, Inc, as well as the CEO of IME Sharks, Inc. Chrissy has vast experience in criminal defense, primarily handling high profile criminal cases and large exposure personal injury and third-party workers’ compensation matters. She also appears as Trial Counsel to other law firms, litigating their personal injury lawsuits in New York courts, at arbitrations and mediations.

Connect with Chrissy:

Theladyshark.com

https://grigorlaw.com/

https://twitter.com/grigorlawgroup

https://www.instagram.com/chrissygofficial/

https://www.youtube.com/@cgrigor.7552

https://www.linkedin.com/in/chrissygrigor/

Connect with Lauren:

https://twitter.com/AdultingIsEasy

https://www.realadultingiseasy.com/

https://www.instagram.com/adultingiseasyreal/

Hey everyone! Lauren has been having quite the summer, and with a couple of trips, buying/renovating a new primary, and a move we're doing a replay this week. Fear not, though, this is our most popular episode of the last couple of years so if you haven't listened yet, you'll love it. If you have listened, you may just love it again.

Show notes:

Athena got into the personal finance content creation world to help the Latina community (and everyone) learn along with her. She’s passionate about helping her community because of the wage and income gaps present. Athena discusses the importance of diversifying income streams, as well as her investment portfolio. Since she literally wrote the (for dummies) book on budgeting, of course Lauren and Athena dove deep into this topic. The first method they talked about was zero based budgeting. The second was the 50/30/20 method, Lauren’s favorite. The third budgeting method discussed was the cash envelope method, Athena’s favorite. Finally, they talked about the pay yourself first budget, which is often not thought of as a budget at all! She offers tactical tips for sticking to a budget, like having groceries delivered. Athena also recommends an accountability partner, which can even be anonymous. Everyone should have a budget because it’s the foundation on which all personal finance goals are based.

About Athena:

Athena Valentine Lent is a finance columnist for Slate and the author of Budgeting for Dummies (Wiley, 2023). Her writing has appeared in BuzzFeed, Prudential, The College Investor, GOBankingRates, Money Under 30, among other places. Her personal finance blog, Money Smart Latina, won the Plutus Award for "Best Personal Finance Content for Underserved Communities" in 2020 and was nominated for "Blog of the Year" in 2022. When she's not working, you can find her reading a Stephen King novel with her main man, a polydactyl cat named Harrison George.

Connect with Athena:

⁠⁠https://twitter.com/accordingathena⁠⁠

⁠⁠https://www.facebook.com/moneysmartlatina/⁠⁠

⁠⁠https://www.instagram.com/moneysmartlatina/⁠⁠

⁠⁠https://www.slate.com/paydirt⁠⁠

Subscribe to the Adulting Is Easy YouTube channel: https://www.youtube.com/@adultingiseasy

If you liked this episode, you will also like Episode 144 with Jannese from Yo Quiero Dinero called You Should Have Multiple Streams of Income and 56 with Jrod called Simple Financial Advice.

Donate to the show: ⁠⁠https://cash.app/$AdultingIsEasy⁠⁠

Connect with Lauren: https://twitter.com/AdultingIsEasy https://www.realadultingiseasy.com/ https://www.instagram.com/adultingiseasyreal/

Most families could do a lot more with a lot less with a bit of financial know-how and discipline, and that’s why Brad is passionate about personal finance. A big goal of parents is sending their kids to college. College kids basically can’t work their way through anymore. Parents can start saving generally and later earmark that savings for college. Lauren asks about having to choose between saving for college and your own retirement. On the bright side, as evidenced by packed college campuses, most people figure it out. Brad shares a concrete example about a father who planned for 4 kids to go to college successfully. The two also discuss lifestyle inflation and the importance of auditing your income and expenses. Then, they transition to a discussion around estate planning. Brad shares a sad story about a mistake that cost a family $100,000. Brad encourages us all to have conversations with our spouse about college planning for the kids sooner than later. Problems can arise when parents don’t agree. Also, be careful what you commit to for college in front of your kids. Saying “we’ll figure it out” was easier 15-20 years ago. You could be committing to hundreds of thousands of dollars. Brad ends by reminding us to get started now.

If you liked this episode, you’ll also like episode 175 about student loans and 33 about estate planning.

About Brad:

Brad Baldridge, CFP, is founder of Baldridge Wealth Management. He specializes in working with individuals and business owners to reach their personal and financial goals. Brad received a Bachelor of Science degree from the University of Wisconsin – Platteville in 1990. He is a Certified Financial Planner professional and a member of the local and national chapters of the Financial Planning Association. Brad is well-known in his community where he conducts many workshops on college funding planning and how it impacts retirement. He is a co-author of a book written to educate business owners on financial topics. His articles have also appeared in newsletters for local chambers of commerce and other business owner groups. Connect with Brad:

https://tamingthehighcostofcollege.com/

https://baldridgewealthmanagement.com/

Connect with Lauren: https://twitter.com/AdultingIsEasy https://www.realadultingiseasy.com/ https://www.instagram.com/adultingiseasyreal/

Gary graduated with a degree that didn’t allow him to make the kind of money he wanted, so he got into nursing to make more money. And then, he made more doing travel nursing. Now, he’s growing his income again by becoming a nurse practitioner. Making more money at work is great, but he learned during COVID to make more money on the side as well, when his 403b (like a 401k) match was paused while at the same time he was working harder than ever. Lauren and Gary discussed the tax deferred benefits of 401k’s and what happens if you withdraw the money early. Then, they transition to discussing what stocks and dividends are. They talk about how to pick dividend paying stocks, dividend yield/payout, and dividend growth stocks. How does Gary pick stocks? For one thing, he likes to buy stock in companies whose products he uses, like P&G. Lauren also asks him if he’s ever been wrong about stocks, and thankfully, he admits he has been wrong. We wouldn’t have believed him if he said he was always right! Luckily, individual stocks aren’t the only way to invest. They also discuss index funds, mutual funds, and ETFs. Gary closes by reminding us that you can give yourself a raise by investing.

If you liked this episode, you’ll also like episode 115: Dividends with Dividend Dream and 143: Dividends with Dividend Dave from the Passive Income podcast.

About Gary:

Gary is Darth Dividend. A travel nurse, Gary has a degree is exercise psychology. He also completed an accelerated nursing program to become an RN in 2019. Now, he’s becoming a nurse practitioner. Gary is passionate about investing, in particular dividend-paying stocks. He shares this passion on Twitter X and YouTube, where he has about 15k followers/subscribers on each platform.

Connect with Gary:

https://twitter.com/DarthDividend23

https://www.youtube.com/DarthDividend

Connect with Lauren: https://twitter.com/AdultingIsEasy https://www.realadultingiseasy.com/ https://www.instagram.com/adultingiseasyreal/