35. Downsizing to be Debt-Free

Hang on to your purses, everybody!  We got ourselves a real live guest!  Susan and Galia shake it up by inviting Kay, aka @themomtrotter onto the podcast.  Kay downsized her and her family's life to pay off their debt by leaving their home and moving into an RV.  Now, just a few years later, they've skyrocketed to being debt-free and growing their savings + investments beyond their expectations.  Join us for an honest conversation and RV home tour with The Mom Trotter as she shares what it is like living life as a family on the road, her fabulous money-saving travel tips, parenting her son to be a future Fiscal Firecracker and overall money goals.

As we begin a new year and take stock of behaviors we'd like to change in ourselves for the better, let's reflect on our e-commerce shopping habits.  We've become a culture that craves instant gratification with one click though services like Amazon, Instagram shopping and more.     If you are looking to save more money (and who isn't?), Galia shows you how you don't have to stop cold turkey with online shopping, but instead - give yourself some financial guardrails by checking how much you spent last year online, setting a monthly spending limit, creating a designated day to shop and more.  Susan shares some of her recent crazy purchases and gives us a mnemonic device we can all live by - "CAN SHEEP EAT PIZZA?"

Just like an annual physical to care for your body's health - it's time to review your financial health with Galia's Year-End Money Checklist.  Listen as Galia guides us through all the ways to make sure our assets are up to snuff - saving money on taxes, cleaning out both our clothing and money closets, polishing up our investments and taking advantage of IRAs - all before December 31. 

Ever feel like talking finance is like speaking a foreign language?  Not anymore!  Galia teaches us the words we need to know right now to kickstart our best money habits.     And just to keep things spicy, Susan surprises Galia by asking her to define non-financial words completely out of her wheelhouse.  What's a "meat-n-three"?  What's "spacework"?  Tune in to find out!

Inflation is an all time high, so what should you do with your money now? Interest rates are higher than ever- so what should you do with your money now? Stock market is volatile and lower than a year ago - so what should you do with your money now?    The Fiscal Firecrackers have got your answers! Galia shares what to do with your cash, where to invest right now and more ways to take advantage of these unsteady areas in our financial lives today to make a volatile market work for YOU.  Susan suggests we get financially educated and also find ways to ground ourselves personally by employing self-care such as seeing theatre, taking a hike or what Susan's mom does - doodling a sketch of Elvis.

The Fiscal Firecrackers are back at it - talking about how best to navigate uncomfortable, confusing or sticky money topics in Episode 30 - "Awkward Money Moments 2."   Galia and Susan trade experiences and give guidance surrounding personal and professional financial situations that get awkward like paying for college, parents prying about finances, salary comparisons, picking up a group coffee tab (or not) and much, much more.  They even define what the hell "leaf-peeping" is!

Many of us spend a lot of time, energy and money on two other traditions besides gift giving at the holidays - travel and special gatherings with loved ones.  In this episode, we share tips on how to save (not lose) money on your holiday travel, great websites to follow for deals, why fall leaves from your yard make better centerpieces than cornucopias and more. Susan reveals her true feelings about driving friends/family to the airport, her pet peeve airplane snack and the secret food she keeps in her purse during holiday travel.

"The Fiscal Firecrackers" want to help you create a memorable ho-ho-holiday that won't ho-ho-hurt your bank account.    Galia shares treasured tips to set your financial intention early (so you don't have a painful holiday hangover in January), find valuable ways to save 20% to 30% on gifts (both online + in stores), buying in bulk and many more ideas that won't cost you a penny.   Susan suggests giving the creative, thoughtful gifts of experiences rather than tangible items and shares memorable examples - like a surprise best friend fly-in (using mileage points) and her priceless call from a famous country singer.

Got kids?  Or maybe you don't have kids, but are thinking about having kids?  Or maybe you don't plan to have kids, but have kids in your life whom you love? Paying for college can be a huge source of stress unless you plan for it well in advance.  Galia explains why parents should prioritize their own retirement first - then their kids' college.  She lays out 529 plans, UGMA plans and prepaid college savings programs.  She also explains which plan is right for you, which investments to choose and what to do with those investments if your child doesn't end up going to college. Susan shares her love of free bank snacks, her vivid memory of receiving her college acceptance letter, her various college jobs that helped put her through school, how she wanted to start saving for her son's college education even before he was born and why "Airplane" is one of the best movies of all time.

Who needs it? Chances are - YOU do. Galia explains the difference between buying "term" and "whole" life insurance, how to calculate the amount of coverage you need and the best way to afford it on any budget.  She fills us in on why many women need long-term care insurance too.  Susan researches high-priced insurance policies that celebrities purchase to cover their most notable body parts.