Inside Out Money

Donor-advised funds are no longer just a secret tax strategy for billionaires; they are one of the most powerful tools we can use to supercharge our charitable giving while significantly lowering our tax bills. We explain how a donor-advised fund works like a retirement account for your generosity—allowing you to donate appreciated stock, skip the capital gains taxes, take an immediate tax deduction during a high-income year, and grant money to your favorite charities over time. Andrew and Liz share the amounts they have put into donor-advised funds and why they opened their accounts after major stock option and deferred compensation payouts. We also share the psychology of separating the tax decision from the giving decision and the key rules and gotchas you need to know before making an irrevocable contribution.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/190-donor-advised-funds/

Financial overwhelm carries a heavy mental and physical weight that can easily paralyze us into avoiding our money altogether. We share a practical six-step game plan to break the cycle of financial stress, starting with pressing a physical reset button and clearing the visual and digital clutter from your workspace. We explore how to overcome analysis paralysis by picking just one small win to build a financial snowball, celebrating your progress with a "done list," and locking in good habits through automation. Plus, we chat about navigating to-do lists with self-diagnosed ADHD brains, why you should give yourself grace when life gets expensive, and the official launch of our new distraction-free community, The Compound.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/189-financial-overwhelm/

Emotional spending is a challenge we all face, especially as we strive to simplify our lives and own fewer possessions. We explore the neuroscience of shopping dopamine, René Girard's theory of mimetic desire, and why choosing the right financial role models matters so much during a spendy holiday season. By putting space between our impulses and our purchases—and talking through our wants with an accountability partner—we can trade temporary emotional band-aids for true intentional spending.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/188-emotional-spending-and-mimetic-desire/

Managing relationships and money is never a one-size-fits-all formula, and the way you structure your bank accounts matters far less than your commitment to total financial transparency. We pull back the curtain on our own marriages to compare two opposite setups—from keeping separate finances with a prenup in a blended family to pooling every dollar into one combined checking account. We also get vulnerable about "Bag Lady Syndrome," what it really looks like to be the higher-earning woman in a marriage, and why prenups and wills are actually the ultimate acts of love and protection. By ditching traditional rules and focusing on shared care and open communication, you and your partner can build a financial system that protects both your wealth and your relationship.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/187-relationships-and-money/

Navigating the frugality paradox means realizing that chasing the lowest unit price at Costco often backfires into clutter, waste, and mindless overconsumption. We explore why true intentional spending sometimes requires "micro-buying" and paying more to get less—starting with a tiny pack of just eight peanut M&Ms at a Thailand 7-Eleven that acts as a built-in behavioral guardrail. Rather than paying for time-saving convenience, we unpack how a subtraction mindset—from buying smaller bags of dog food and silencing "house noise" through downsizing to turning down "free" neighborhood hot tubs and trampolines—protects our mental load. By reminding ourselves that our bodies are not trash cans and our homes are not dumpsters, we can stop optimizing every penny and start asking what will actually happen after we bring something into our lives.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/186-the-frugality-paradox/

We review our favorite and what we think is the best retirement planning software out there: Projection Lab. Ditch the duct-taped or maybe even fancy spreadsheets and explore why Projection Lab is an absolute game-changer for the FIRE community and more general retirement planning. By stress-testing your future against life's biggest curveballs, you can build a detailed model of your financial life, optimize your taxes, automate dynamic withdrawal strategies, test "what-if" scenarios, and forecast your long-term economic path. And you can likely do all of this DIY better than the traditional financial advisor. We unpack and map out how to use Projection Lab or other similar financial planning software from start to finish, and highlight our favorite features and tools within the software.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/185-the-best-retirement-planning-software/

Teaching teens about money requires us to look past the spreadsheets and tackle the exhausting real-world money traps happening right inside our homes. We are wrapping up our special three-part series with my 17-year-old stepdaughter, Maddie, by flipping the script to focus entirely on actionable parent tactics. Together, we explore practical strategies to combat sibling scorekeeping, navigate the "invisible ledger" of blended families, and successfully implement the decision-maker pays rule. By stepping back and letting teens manage their own seasonal clothing budgets and vacation envelopes, we can break the money taboo and co-learn together as a unified family.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/184-teaching-teens-about-money/

Mastering teen money basics is the ultimate key to transforming Gen Z's financial anxiety into agency and empowerment. In part two of our special series with my 17-year-old stepdaughter, Maddie, we are moving past the psychological traps of spending guilt and laying down highly actionable advice for young adults. We explore how to outsmart the "invisible cash" effect by deleting saved credit cards, using the 24-hour rule to limit impulse buys, and reframing purchases into actual hours worked. From establishing strict student loan rules of thumb for college to embracing an internal locus of control, we outline exactly how to navigate social proof and build resilient financial habits before teenagers step into their next phase of life.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/183-teen-money-basics/

Raising financially confident teens requires us to look past simple budgeting and understand the psychology they face every single day. We are kicking off an actionable three-part series with my 17-year-old stepdaughter, Maddie, to unpack the reality of teen financial anxiety, the death of the traditional allowance, and modern spending habits. Together, we explore ways to combat the "invisible cash" effect of digital wallets and navigate the cognitive dissonance that leaves young adults feeling guilty after impulse purchases. By blending psychological insights with open conversations about how teens think about money, we can help you actively guide your kids and raise financially confident young adults.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/psychology-of-teen-money-part1/

Examining our deathbed regrets is the ultimate framework for reverse-engineering how we spend our time and money today. We unpack the difference between resume virtues and eulogy virtues, challenging the common instinct to hoard resources for a distant retirement when our peak energy and time with family are happening right now. We explore the power of life-stage time buckets, why buying back time during the messy parenting years beats waiting for traditional retirement, and how to find the middle ground between daily stability and big adventures. Building true wealth means aligning our finances with what we want to be remembered for, ensuring we look back on our choices with deep fulfillment rather than regret.Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/181-avoiding-deathbed-regrets/