Are you considering the FIRE (Financial Independence Retire Early) Movement?
This is a big decision to make especially if you're in a committed relationship. It's not just your decision ... it affects both of you.
Andy shares how he learned this the hard way and how he and Nicole are now pursuing a version of Slow FI ... enjoying your life and your work today instead of the traditional FIRE path.
Are you having more marriage fights lately?
Kim and Penn Holderness, of Holderness Family Productions, join us to discuss their new book "Everybody Fights: So Why Not Get Better at It?".
After more than a decade of being married and working together, Kim and Penn share how they embrace the marriage fights and the tactics they use to resolve them.
I'm lucky to have Nicole join me for the interview today too!
Wondering how your marriage roles lately?
Is it okay to change from your current station in marriage?
Perhaps you're ready to go back to work instead of being a stay-at-home parent or you're ready to take on more of the domestic duties.
Andy and Nicole discuss how their roles have changed throughout their 10-year marriage.
They share the pros and cons of working full-time and being a stay-at-home parent full-time.
What is your current role in marriage? Are you ready for a change?
Are you considering leaving the city to find a more reasonable place to live?
That's what Andy Hill and Stefanie O'Connell Rodriguez, host of Real Simple's "Money Confidential" Podcast, are covering today.
After that Andy answers a question about how to get your partner on board with FIRE (Financial Independence Retire Early).
And last but not least, Zoey and Andy do another money quiz!
What a year! Has the judgment increased lately or is it just us? For as hard as we try, why do we judge others?
And why do we care what others think about us?
Nicole and Andy discuss recent judgment they have both received as well as judgment they've doled out.
They discuss some takeaways on steps they are trying to improve personally.
Wendy Hill Manson wanted a side hustle to make some extra money to help her boys pay for college. She decided to take the plunge into Airbnb.
A few years later, she's now an Airbnb Superhost with 4 rental units and ready to expand.
Last year, she made over $100,000 with Airbnb!
Wendy shares how she got started, the mistakes she made along the way, and how Airbnb is helping her ease into retirement.
What is your policy on doing business with family and friends?
Nicole and Andy discuss the awkward nature of working with people you know instead of people you don't know.
It's easy to go with the 5-star rated service on Yelp, but there may be some untold benefit to support your brother, sister or cousin in their business venture.
Is it worth it?
Please let us know by tagging us on social media @AndyHillMKM or leaving a voicemail MarriageKidsandMoney.com/Voicemail
Are you ready to buy a house, but you're not sure you can afford it?
That's the situation our friend Ryan is in today. He is planning to move and wants to stop renting because he feels like it's a waste of money.
I share 5 strategies that will help him know when he is ready to buy a house.
Also, I answer another question from Karen about consolidating investment accounts.
Lastly, Janelle Page from Indiana shares how she paid off her house in just 3 years!
Should the man always pay for dinner on dates?
What about dinners with friends? How do you handle that?
Nicole grew up in a different culture than Andy and they discuss how this "paying for dinner" situation has caused a lot of controversy in their marriage.
They review the pros and cons of being generous with paying the bill and if you might actually offend someone if you insist on paying.
What do you think?
Please leave us a voicemail at MarriageKidsandMoney.com/Voicemail or a note on Instagram at Instagram.com/andyhillmkm
CBS News Business Analyst Jill Schlesinger shares common money mistakes to avoid on our financial journey.
It's fun to celebrate the big financial wins, but it can be just as important to review our mistakes. That way we learn from them and grow.
Jill Schlesinger, Author of "The Dumb Things Smart People Do with Their Money: Thirteen Ways to Right Your Financial Wrongs", breaks down why we make these mistakes and what we can do to avoid them in the future.
Is it more important to increase your income or decrease your expenses?
Which lever is more important to pull on your financial journey?
Nicole throws a curveball at Andy and tells him he can't choose both. Boo!
They discuss the decisions they've made in their marriage regarding increasing income and decreasing expenses.
Given the power of both options, what do you think is the right answer?
They'd love to hear from you through voicemail at MarriageKidsandMoney.com/Voicemail or on Instagram at Instragram.com/andyhillmkm
Are you in your 30's and you're ready to start investing?
Well, you may already be an investor and you didn't even know it! Find out why when I chat with Broke Millennial Author, Erin Lowry.
She discusses how we can invest for our retirement and for other events in our lives and pay fewer taxes in the process.
We also discuss how to find a financial advisor you can trust and why fiduciary may be the best "f-word" ever!
Is there a difference between cheap and frugal?
Some see them as the same thing and others feel there is a big difference.
As per usual, Nicole and Andy disagree on the cheap vs. frugal discussion and they dive into it headfirst.
Where do you fall? Is cheap the same thing as frugal? Should there be a better word being discussed here?
Let us know at MarriageKidsandMoney.com/Voicemail or on social @AndyHillMKM
Faith & Leo Jean-Louis recently paid off over $200,000 of debt. The year after, they invested over $100,000 in the stock market.
Discover how they did this and paid fewer taxes in the process. This inspiring young family is building generational wealth through faith, legacy, and focused investing.
What would generational wealth mean to your family?
Check out the show notes and video: https://marriagekidsandmoney.com/invest-100000-in-1-year-faith-leo-jean-louis
Do you feel talking about money is taboo?
Nicole and I dive into how sensitive it is to talk about money in our culture and in our relationship.
We discuss ways that this awkwardness has made its way into our marriage and takeaways for other couples who are wondering how to handle the taboo topic of money.
Want to give us feedback or ideas for future episodes?
Contact us on social @AndyHillMKM or leave a voicemail at marriagekidsandmoney.com/voicemail
After working in his corporate career for 20 years, Tom is looking to resign and experience his financial independence.
He wants to do it right and leave with a severance package that helps him roll into his early retirement.
Sam Dogen from Financial Samurai joins me to help Tom engineer his layoff and make this process successful.
Also, Andy LeBlanc from Utah shares how he became a millionaire by age 41!
Is it worth it to leave a six-figure career to pursue entrepreneurship?
That's what I asked my wife Nicole today.
It's been one year since I left my job and we've been through a lot with the pandemic, virtual school and loss of income.
We discuss the impact of this decision, if we'd do it all over again and advice for other couples considering this entrepreneurship leap.
Some people feel that budgets can be restricting or they reinforce a scarcity mindset.
While others get a sense of freedom and control with their budget.
So what's the right answer?
Jesse Mecham, Founder of You Need a Budget (YNAB), joins me to discuss this debate and how people can find their individual path with budgeting.
Can you be happily married and have separate bank accounts?
Nicole and I dive deep into the subject and analyze if this is something we could do in our relationship after 10 years of having one joint account.
Knowing how personal this topic can be, Nicole and I share three takeaways for couples to decide if this is right for them.
What do you think? Could you see having yours, mine and ours account in your relationship?
Let us know @AndyHillMKM on social!
Rachel Cruze joins me to answer a question from anonymous: "My husband wants separate bank accounts and I don't. What should I do?"
We discuss the options available to our anonymous friend including the importance of clear communication and even asking for support from a marriage counselor.
Rachel and I also discuss her thoughts on the Enneagram Test, how she differs in opinions from her Dad, Dave Ramsey and what she thinks of the FIRE Community.
During the second part of the episode, I throw out another MKM Challenge to reflect on 2020 and fight our instincts toward negativity.
Lastly, Zoey joins me for our very first "Money Quiz"!
What's money for if you can't enjoy it?
Sometimes when it's all lumped into one account that can be hard.
Nicole and I talk about the benefits of breaking your money into buckets to allow yourself to have some more fun.
Do you break your money into buckets? Let us know on social @AndyHillMKM!
Lowering our annual expenses can allow us to achieve debt freedom and financial independence a lot sooner.
But spending less can also mean not having as much fun. And who wants that? Not our family!
That's why we went on a quest to decrease our UN-Fun expenses by $20,000 while increasing our FUN expenses by $10,000.
Who's ready to have more fun for less money?
I share all the details of how our family made this financial change up and how you can too.
Have you ever been passionate about something and your spouse doesn't share the same passion?
These differences can affect your relationship ...sometimes for better and sometimes for worse.
Nicole and Andy Hill discuss how these types of conflicts have affected their relationship in the past and how they have dealt with them.
Do you want to become a young millionaire?
So did J. Money from "Budget Are Sexy" fame over 10 years ago.
He started tracking his net worth each month and eventually, he hit his millionaire milestone.
J. Money shares what your net worth is, how you can easily track it and ways for you to grow your net worth to a million and beyond.
Listen to today's first-ever BEST OF MKM episode featuring J. Money!
Nicole and Andy chat about buying presents for the kids for Christmas.
How many are too many?
How little is too little?
We're not sure we have the answers, but we sure enjoyed our drinks while we're discovering it.
Thanks for joining us for another Bread & Wine episode!