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BiggerPockets Money Podcast

BiggerPockets | Mindy Jensen & Scott Trench

150
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524
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BiggerPockets Money Podcast
BiggerPockets Money Podcast

BiggerPockets Money Podcast

BiggerPockets | Mindy Jensen & Scott Trench

150
Followers
524
Plays
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About Us

For those who have money… or want more of it!

Join Mindy Jensen and Scott Trench (from BiggerPockets.com) weekly for the BiggerPockets Money Podcast. Each week, financial experts Mindy and Scott interview unique and powerful thought leaders about how to earn more, keep more, spend smarter, and grow wealth.

Latest Episodes

18 Options for Healthcare in Early Retirement with Lynn Frair

The absolute MOST FREQUENTLY ASKED question I get about Early Retirement is “What do I do about healthcare?” Without going into too much detail, we’re all aware that healthcare costs are fairly ridiculous in America. Not properly planning for healthcare can be catastrophic - one unexpected event can literally wipe you out. Lynn Frair from FIHealthcare.com joins us today to share the results of her intense research into the options available to early retirees. She has found 18 different healthcare options and shares them with us. She also has created a crowdsourcing database for other options. (If you’ve got a different way to procure healthcare, she’d love to include it in her database!) If you are on the path to financial independence, you NEED this episode. In This Episode We Cover:How Lynn became interested in financial independenceHow she began investing at age 12The process of researching healthcare options18 different options for healthcareHealthcare preventionThe differe...

68 MIN6 d ago
Comments
18 Options for Healthcare in Early Retirement with Lynn Frair

LIVE from BPCon2019: Ask Us Anything!

All the BiggerPockets podcast hosts on stage in one place! This bonus episode was recorded at the BiggerPockets Conference 2019 on October 7th in front of a live audience of more than 1,000 people at the Gaylord Opryland Resort in Nashville, Tenn. We turned the mics over to our members, who fired a bunch of great questions at Scott Trench and Mindy Jensen, Brandon Turner and David Greene, Joshua Dorkin, and J and Carol Scott. Our panelists covered some nitty gritty real estate topics, like tackling vacancy and how to invest IRA funds, as well as big-picture concepts like motivation, marketing, and teaching family members the importance of investing at an early age. Also, everyone reveals which animal they would be if they had to choose, and a member of the audience challenges David Greene to produce an analogy on the spot. Listen to find out whether he performed under pressure! Our first conference in seven years was a big success, and we’re so thankful to everyone who came out to ...

79 MIN1 w ago
Comments
LIVE from BPCon2019: Ask Us Anything!

Financial Mistakes and How to Avoid Them with Scott & Mindy

Financial mistakes can have a HUGE impact on your future retirement savings - the opportunity costs can be enormous! In this episode, Scott and Mindy discuss some of the biggest mistakes you can make financially,and ways to avoid them so you can give yourself the highest potential for financial independence. Mindy and Scott move past previously discussed mistakes such as housing and transportation,and dive deep into relationship money mistakes, travel, spending, retirement planning and tax issues that can cost you tens of thousands of dollars in your retirement accounts. Scott and Mindy shed light on some of the “low-hanging fruit” money missteps as well as touching on spending and lack-of-planning issues that can have an even larger impact on your financial future. This episode truly is for anyone who has money AND wants to have more. In This Episode We Cover:What house hacking isOn buying a carChallenges that come up in relationshipsWhat to buy on engagement ringsConcept to appl...

60 MIN1 w ago
Comments
Financial Mistakes and How to Avoid Them with Scott & Mindy

An Introduction to Financial Independence with Chris Mamula, Brad Barrett and Jonathan Mendonsa

Personal finance is easy, right? You read a blog or listen to a podcast and just follow everything they did. Easy, Peasy, Lemon Squeezy. Except that’s not how the world works. What brought success to one person may bring misery - and ultimately failure - to someone else. Personal Finance is P-E-R-S-O-N-A-L! Of course that said, there are some general principles that apply to everyone:Spend less than you earnInvest wiselyIncrease your incomeTrack your spendingBe money consciousChris Mamula, Brad Barrett and Jonathan Mendonsa are the authors of ChooseFI: Your Blueprint to Financial Independence, a new book for ChooseFI Publishing. They join us today to share the basics of Financial Independence, and to remind us that Financial Freedom is available for everyone. Topics:What their book is all aboutThe framework they applied to the concept of financial independenceDeconstructing rules and create new mindsetThings they questioned that started to fall apartHow to frame the conversation to attract and get more people interested on financial independenceThe concept of spending less moneyPrinciples on how to cut your expensesLearn the rules of money and mathHow to earn more incomeHow they approach on investingThe final step towards financial independenceAnd SO much more!Links:Mr. Money MustacheMad FientistYNABMintFrugalwoodsBiggerPockets Money Podcast 10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz ThamesBiggerPockets Money Podcast 86: Choosing the Right Investment Type for Your Goals with David SteinBudgets Are SexyTwitter - Dad JokesScott's InstagramChooseFIChooseFI PodcastEat The Financial ElephantCan I Retire Yet?

79 MIN2 w ago
Comments
An Introduction to Financial Independence with Chris Mamula, Brad Barrett and Jonathan Mendonsa

Debt is NOT a Death Sentence with Melanie Lockert of Dear Debt

Melanie Lockert joins us today to share her story of student loan debt and her subsequent inability to find a job when she graduated into one of the worst job markets America had ever seen, and her spiral into depression and shame over her debt. Melanie is not alone - as of 2018, more than 44.2 MILLION borrowers owe more than $1.5 TRILLION! (link https://en.wikipedia.org/wiki/Student_debt) September is National Suicide Prevention month - and Melanie hosts a Suicide Prevention Blog Tour every year due to the sheer number of people who find her blog when they search "I want to kill myself because of debt". Melanie advocates sitting down and figuring out exactly how much your debt is costing you per day, which was both a big source of shame as well as a HUGE motivator for her to pay it off. She also shares her journey out of debt - and out of depression through therapy. Melanie also shares resources for people feeling overwhelmed. Find counseling options at www.openpathcollective.org, talk to someone through text by texting HOME to 741741, which is the Crisis Text line or call the National Suicide Prevention Hotline at 1-800-273-8255. In This Episode We Cover:Melanie's journey with moneyExperiencing mental health issues because of debtStart blogging and wrote break-up letters to debtHow she paid off her debtHer main side hustleHow much it costs her to pay her student loan debtsThe reason why debt is depressingThe biggest mistake people are makingHer advice to anyone who has the same path with herFive stages of grief that are similar to paying off debtOn living in denialSteps to prepare your mindset and addressing the underlying issuesTherapy hackWhat keep her motivatedTalking about the first person who reach out to herHow she personally managed to pay off her student loansOn making more moneyWhat her life look like after she paid off her student loan debtAnd SO much more!Links from the ShowCraigslistTaskRabbitFinConMintOpen Path CollectiveCrisis Text Line - Text HOME to 741741Suicidal Hotline - 1-800-273-8255Suicide PreventionNational Foundation for Credit CounselingAnnual Credit ReportSide Hustle NationBiggerPockets Money Podcast 90: From Unplanned Pregnancy to Financially Free with Melissa from Traveling WalletBiggerPockets Money Podcast 28: How Anyone Can Easily Make Extra Money Using Side Hustles with Nick LoperBiggerPockets Money Podcast 50: Rebuilding Your Financial Life After Bankruptcy with Patrice WashingtonBiggerPockets Money Podcast 35: Hacking Your Life to Live for (Almost) Free with Craig Curelop

77 MIN3 w ago
Comments
Debt is NOT a Death Sentence with Melanie Lockert of Dear Debt

FinCon Bonus Episode: Improving Financial Education with Billy Hensley from NEFE

Mindy sits down with Billy Hensley from The National Endowment for Financial Education to talk about Financial Education in America, and how NEFE is working to improve student and adult access to this oh-so-important information. They discuss state-mandated financial education courses and the success rates for students in these states. Billy also shares his take on the mandates, and how YOU can get involved if your state does not yet have this requirement. Billy also details how parents can get involved and bring this education into their children’s schools, where this is so desperately needed. This shortened episode of BiggerPockets Money is especially important for parents who are trying to teach their children how to handle money. In This Episode We Cover:The right time to start teaching kids about moneyThe importance of understanding the needs versus wants at the very early ageHow to introduce financial education into elementary and middle school childrens' curriculumOn financial education mandatesHow do we get mandates to all 50 statesMisconception about financial educationAnd SO much more!Links:FinConMandates Matter When it Comes to Borrowing for CollegeNational Endowment for Financial Education

20 MINSEP 21
Comments
FinCon Bonus Episode: Improving Financial Education with Billy Hensley from NEFE

From Unplanned Pregnancy to Financially Free with Melissa from Traveling Wallet

When Melissa found out she was pregnant, she was a sophomore in college. Her counselor gave her a pretty alarming statistic: a frighteningly small number of women who get pregnant in college actually end up graduating. Melissa threw herself into her studies, and prepared as much as she could for the birth of her son. And while her plans may have been changed by this unexpected addition, she pushed on and beat the odds - in more ways than one! Not only did Melissa graduate on time, she graduated with a degree in Mechanical Engineering while working an internship in California and attending school in Michigan. Melissa’s story shows that bumps in the road of life do not have to define your path and that financial independence is STILL achievable even if life throws you a curveball. In This Episode We Cover:Melissa's money journeyThree situations that set up her money mindsetWhat her life looks like during her college yearsWhat her school program looks like during her college yearsHow ...

66 MINSEP 16
Comments
From Unplanned Pregnancy to Financially Free with Melissa from Traveling Wallet

Retire Before Mom & Dad, with Rob Berger

Rob Berger grew up literally with Rich Dad, Poor Mom. While his mother almost lost her house after his parents divorced, his father was filthy rich, picking him up in a Rolls Royce for weekend visits. Throughout high school and college, he spent every dime he made, and graduated with around $55,000 in debt -and a wife. Upon graduating law school, he felt that “If I don’t save something, it would be a missed opportunity - even if it was $100 a month.” Keeping up with the (lawyer) Joneses took him in a big way - fancy car, fancy watch - and it wasn’t until he started listening to Dave Ramsey and hearing all those people scream “I’M DEBT FREE!!!” that it clicked. He didn’t want the fancy things anymore, he wanted to be debt free. He started saving in his retirement accounts, while simultaneously paying down debt because “it would be insanity to forgo contributions to your 401(k) so you could pay off your 6% student loan debt or credit card debt you can transfer to a 0% card. E...

66 MINSEP 9
Comments
Retire Before Mom & Dad, with Rob Berger

Consciously Choosing to be Debt Free with Ashley Likely

Ashley Likely grew up with parents who provided everything she needed, but not necessarily everything she wanted. They were able to pay for her housing in College, but not for much else. So (spoiler alert) she graduated college with $77,000 of student loan debt. A conversation with a ‘preachy’ coworker showed her the light of paying down debt, saving aggressively and starting to invest. They started encouraging each other at work, learning about investments, contributing to 401(k)s, listening to podcasts and doing research. Ashley stumbled across a blog post written by Scott Trench where he shared “Reducing your debt is similar to increasing your income.” She had $56,000 in student loan debt at the time she read this article and says “Scott’s post changed my life.” She thought, if I could eliminate the student loan, what could that do for me mentally and financially? As a speech language pathologist, she has the opportunity for overtime, which she took every chance she got. Her naturally frugal ways kept her from going into further debt with car loans, vacations and all the trappings of “adulthood” by simply avoiding them. Avoiding these debt traps allowed her to bust out her debt and prepare for her future as a real estate mogul! In This Episode We Cover:Ashley's money journeyWorked side jobs and open up credit card to get an employee discountTotal debt she had from credit card and student loan after collegeWhat she did after collegeUsed her income tax return to paid out her credit card debt and bought a houseOn her journey to financial freedomAggressively attacked student loan debt in 2017What prompted her to paid down her student loan debtGot interested in real estateHow he got downpayment for her investment propertyOn househackingAnd SO much more!Links from the ShowBiggerPockets Podcast 268: Acquiring 20 Long-Distance Rental Homes (on a Military Salary!) with Rich CareyBroke MillennialBiggerPockets Money Podcast 05: Jump Starting Your Early FI Plans by Live-in Flipping with Mindy JensenAshley's Instagram

54 MINSEP 2
Comments
Consciously Choosing to be Debt Free with Ashley Likely

How to Save Money For Your Downpayment with Scott & Mindy

In Episode 83, Scott and Mindy discussed how to buy your first property. And they were peppered with questions about the buying process after it came out, but the top question they got was “How do you save for your downpayment?” In today’s episode, Scott and Mindy dive deep into the process that happens BEFORE you start looking for a property. Things like getting your credit score as high as possible, getting your taxes in order, and the TRUE cost of closing. They also explore PMI - when it makes sense to pay it down and when it’s OK to continue to pay. They even share a story from a listener who was able to buy out his $100 a month PMI payment for $1500. If you’re looking to buy a house, but not sure where to start, this episode will definitely put you on the right path. In This Episode We Cover:Things to do before buying a houseGetting your taxes in orderDisadvantages of self-employmentMindy's story of buying her current houseAvoid making big purchases until after you close o...

65 MINAUG 26
Comments
How to Save Money For Your Downpayment with Scott & Mindy

Latest Episodes

18 Options for Healthcare in Early Retirement with Lynn Frair

The absolute MOST FREQUENTLY ASKED question I get about Early Retirement is “What do I do about healthcare?” Without going into too much detail, we’re all aware that healthcare costs are fairly ridiculous in America. Not properly planning for healthcare can be catastrophic - one unexpected event can literally wipe you out. Lynn Frair from FIHealthcare.com joins us today to share the results of her intense research into the options available to early retirees. She has found 18 different healthcare options and shares them with us. She also has created a crowdsourcing database for other options. (If you’ve got a different way to procure healthcare, she’d love to include it in her database!) If you are on the path to financial independence, you NEED this episode. In This Episode We Cover:How Lynn became interested in financial independenceHow she began investing at age 12The process of researching healthcare options18 different options for healthcareHealthcare preventionThe differe...

68 MIN6 d ago
Comments
18 Options for Healthcare in Early Retirement with Lynn Frair

LIVE from BPCon2019: Ask Us Anything!

All the BiggerPockets podcast hosts on stage in one place! This bonus episode was recorded at the BiggerPockets Conference 2019 on October 7th in front of a live audience of more than 1,000 people at the Gaylord Opryland Resort in Nashville, Tenn. We turned the mics over to our members, who fired a bunch of great questions at Scott Trench and Mindy Jensen, Brandon Turner and David Greene, Joshua Dorkin, and J and Carol Scott. Our panelists covered some nitty gritty real estate topics, like tackling vacancy and how to invest IRA funds, as well as big-picture concepts like motivation, marketing, and teaching family members the importance of investing at an early age. Also, everyone reveals which animal they would be if they had to choose, and a member of the audience challenges David Greene to produce an analogy on the spot. Listen to find out whether he performed under pressure! Our first conference in seven years was a big success, and we’re so thankful to everyone who came out to ...

79 MIN1 w ago
Comments
LIVE from BPCon2019: Ask Us Anything!

Financial Mistakes and How to Avoid Them with Scott & Mindy

Financial mistakes can have a HUGE impact on your future retirement savings - the opportunity costs can be enormous! In this episode, Scott and Mindy discuss some of the biggest mistakes you can make financially,and ways to avoid them so you can give yourself the highest potential for financial independence. Mindy and Scott move past previously discussed mistakes such as housing and transportation,and dive deep into relationship money mistakes, travel, spending, retirement planning and tax issues that can cost you tens of thousands of dollars in your retirement accounts. Scott and Mindy shed light on some of the “low-hanging fruit” money missteps as well as touching on spending and lack-of-planning issues that can have an even larger impact on your financial future. This episode truly is for anyone who has money AND wants to have more. In This Episode We Cover:What house hacking isOn buying a carChallenges that come up in relationshipsWhat to buy on engagement ringsConcept to appl...

60 MIN1 w ago
Comments
Financial Mistakes and How to Avoid Them with Scott & Mindy

An Introduction to Financial Independence with Chris Mamula, Brad Barrett and Jonathan Mendonsa

Personal finance is easy, right? You read a blog or listen to a podcast and just follow everything they did. Easy, Peasy, Lemon Squeezy. Except that’s not how the world works. What brought success to one person may bring misery - and ultimately failure - to someone else. Personal Finance is P-E-R-S-O-N-A-L! Of course that said, there are some general principles that apply to everyone:Spend less than you earnInvest wiselyIncrease your incomeTrack your spendingBe money consciousChris Mamula, Brad Barrett and Jonathan Mendonsa are the authors of ChooseFI: Your Blueprint to Financial Independence, a new book for ChooseFI Publishing. They join us today to share the basics of Financial Independence, and to remind us that Financial Freedom is available for everyone. Topics:What their book is all aboutThe framework they applied to the concept of financial independenceDeconstructing rules and create new mindsetThings they questioned that started to fall apartHow to frame the conversation to attract and get more people interested on financial independenceThe concept of spending less moneyPrinciples on how to cut your expensesLearn the rules of money and mathHow to earn more incomeHow they approach on investingThe final step towards financial independenceAnd SO much more!Links:Mr. Money MustacheMad FientistYNABMintFrugalwoodsBiggerPockets Money Podcast 10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz ThamesBiggerPockets Money Podcast 86: Choosing the Right Investment Type for Your Goals with David SteinBudgets Are SexyTwitter - Dad JokesScott's InstagramChooseFIChooseFI PodcastEat The Financial ElephantCan I Retire Yet?

79 MIN2 w ago
Comments
An Introduction to Financial Independence with Chris Mamula, Brad Barrett and Jonathan Mendonsa

Debt is NOT a Death Sentence with Melanie Lockert of Dear Debt

Melanie Lockert joins us today to share her story of student loan debt and her subsequent inability to find a job when she graduated into one of the worst job markets America had ever seen, and her spiral into depression and shame over her debt. Melanie is not alone - as of 2018, more than 44.2 MILLION borrowers owe more than $1.5 TRILLION! (link https://en.wikipedia.org/wiki/Student_debt) September is National Suicide Prevention month - and Melanie hosts a Suicide Prevention Blog Tour every year due to the sheer number of people who find her blog when they search "I want to kill myself because of debt". Melanie advocates sitting down and figuring out exactly how much your debt is costing you per day, which was both a big source of shame as well as a HUGE motivator for her to pay it off. She also shares her journey out of debt - and out of depression through therapy. Melanie also shares resources for people feeling overwhelmed. Find counseling options at www.openpathcollective.org, talk to someone through text by texting HOME to 741741, which is the Crisis Text line or call the National Suicide Prevention Hotline at 1-800-273-8255. In This Episode We Cover:Melanie's journey with moneyExperiencing mental health issues because of debtStart blogging and wrote break-up letters to debtHow she paid off her debtHer main side hustleHow much it costs her to pay her student loan debtsThe reason why debt is depressingThe biggest mistake people are makingHer advice to anyone who has the same path with herFive stages of grief that are similar to paying off debtOn living in denialSteps to prepare your mindset and addressing the underlying issuesTherapy hackWhat keep her motivatedTalking about the first person who reach out to herHow she personally managed to pay off her student loansOn making more moneyWhat her life look like after she paid off her student loan debtAnd SO much more!Links from the ShowCraigslistTaskRabbitFinConMintOpen Path CollectiveCrisis Text Line - Text HOME to 741741Suicidal Hotline - 1-800-273-8255Suicide PreventionNational Foundation for Credit CounselingAnnual Credit ReportSide Hustle NationBiggerPockets Money Podcast 90: From Unplanned Pregnancy to Financially Free with Melissa from Traveling WalletBiggerPockets Money Podcast 28: How Anyone Can Easily Make Extra Money Using Side Hustles with Nick LoperBiggerPockets Money Podcast 50: Rebuilding Your Financial Life After Bankruptcy with Patrice WashingtonBiggerPockets Money Podcast 35: Hacking Your Life to Live for (Almost) Free with Craig Curelop

77 MIN3 w ago
Comments
Debt is NOT a Death Sentence with Melanie Lockert of Dear Debt

FinCon Bonus Episode: Improving Financial Education with Billy Hensley from NEFE

Mindy sits down with Billy Hensley from The National Endowment for Financial Education to talk about Financial Education in America, and how NEFE is working to improve student and adult access to this oh-so-important information. They discuss state-mandated financial education courses and the success rates for students in these states. Billy also shares his take on the mandates, and how YOU can get involved if your state does not yet have this requirement. Billy also details how parents can get involved and bring this education into their children’s schools, where this is so desperately needed. This shortened episode of BiggerPockets Money is especially important for parents who are trying to teach their children how to handle money. In This Episode We Cover:The right time to start teaching kids about moneyThe importance of understanding the needs versus wants at the very early ageHow to introduce financial education into elementary and middle school childrens' curriculumOn financial education mandatesHow do we get mandates to all 50 statesMisconception about financial educationAnd SO much more!Links:FinConMandates Matter When it Comes to Borrowing for CollegeNational Endowment for Financial Education

20 MINSEP 21
Comments
FinCon Bonus Episode: Improving Financial Education with Billy Hensley from NEFE

From Unplanned Pregnancy to Financially Free with Melissa from Traveling Wallet

When Melissa found out she was pregnant, she was a sophomore in college. Her counselor gave her a pretty alarming statistic: a frighteningly small number of women who get pregnant in college actually end up graduating. Melissa threw herself into her studies, and prepared as much as she could for the birth of her son. And while her plans may have been changed by this unexpected addition, she pushed on and beat the odds - in more ways than one! Not only did Melissa graduate on time, she graduated with a degree in Mechanical Engineering while working an internship in California and attending school in Michigan. Melissa’s story shows that bumps in the road of life do not have to define your path and that financial independence is STILL achievable even if life throws you a curveball. In This Episode We Cover:Melissa's money journeyThree situations that set up her money mindsetWhat her life looks like during her college yearsWhat her school program looks like during her college yearsHow ...

66 MINSEP 16
Comments
From Unplanned Pregnancy to Financially Free with Melissa from Traveling Wallet

Retire Before Mom & Dad, with Rob Berger

Rob Berger grew up literally with Rich Dad, Poor Mom. While his mother almost lost her house after his parents divorced, his father was filthy rich, picking him up in a Rolls Royce for weekend visits. Throughout high school and college, he spent every dime he made, and graduated with around $55,000 in debt -and a wife. Upon graduating law school, he felt that “If I don’t save something, it would be a missed opportunity - even if it was $100 a month.” Keeping up with the (lawyer) Joneses took him in a big way - fancy car, fancy watch - and it wasn’t until he started listening to Dave Ramsey and hearing all those people scream “I’M DEBT FREE!!!” that it clicked. He didn’t want the fancy things anymore, he wanted to be debt free. He started saving in his retirement accounts, while simultaneously paying down debt because “it would be insanity to forgo contributions to your 401(k) so you could pay off your 6% student loan debt or credit card debt you can transfer to a 0% card. E...

66 MINSEP 9
Comments
Retire Before Mom & Dad, with Rob Berger

Consciously Choosing to be Debt Free with Ashley Likely

Ashley Likely grew up with parents who provided everything she needed, but not necessarily everything she wanted. They were able to pay for her housing in College, but not for much else. So (spoiler alert) she graduated college with $77,000 of student loan debt. A conversation with a ‘preachy’ coworker showed her the light of paying down debt, saving aggressively and starting to invest. They started encouraging each other at work, learning about investments, contributing to 401(k)s, listening to podcasts and doing research. Ashley stumbled across a blog post written by Scott Trench where he shared “Reducing your debt is similar to increasing your income.” She had $56,000 in student loan debt at the time she read this article and says “Scott’s post changed my life.” She thought, if I could eliminate the student loan, what could that do for me mentally and financially? As a speech language pathologist, she has the opportunity for overtime, which she took every chance she got. Her naturally frugal ways kept her from going into further debt with car loans, vacations and all the trappings of “adulthood” by simply avoiding them. Avoiding these debt traps allowed her to bust out her debt and prepare for her future as a real estate mogul! In This Episode We Cover:Ashley's money journeyWorked side jobs and open up credit card to get an employee discountTotal debt she had from credit card and student loan after collegeWhat she did after collegeUsed her income tax return to paid out her credit card debt and bought a houseOn her journey to financial freedomAggressively attacked student loan debt in 2017What prompted her to paid down her student loan debtGot interested in real estateHow he got downpayment for her investment propertyOn househackingAnd SO much more!Links from the ShowBiggerPockets Podcast 268: Acquiring 20 Long-Distance Rental Homes (on a Military Salary!) with Rich CareyBroke MillennialBiggerPockets Money Podcast 05: Jump Starting Your Early FI Plans by Live-in Flipping with Mindy JensenAshley's Instagram

54 MINSEP 2
Comments
Consciously Choosing to be Debt Free with Ashley Likely

How to Save Money For Your Downpayment with Scott & Mindy

In Episode 83, Scott and Mindy discussed how to buy your first property. And they were peppered with questions about the buying process after it came out, but the top question they got was “How do you save for your downpayment?” In today’s episode, Scott and Mindy dive deep into the process that happens BEFORE you start looking for a property. Things like getting your credit score as high as possible, getting your taxes in order, and the TRUE cost of closing. They also explore PMI - when it makes sense to pay it down and when it’s OK to continue to pay. They even share a story from a listener who was able to buy out his $100 a month PMI payment for $1500. If you’re looking to buy a house, but not sure where to start, this episode will definitely put you on the right path. In This Episode We Cover:Things to do before buying a houseGetting your taxes in orderDisadvantages of self-employmentMindy's story of buying her current houseAvoid making big purchases until after you close o...

65 MINAUG 26
Comments
How to Save Money For Your Downpayment with Scott & Mindy

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