#5: Personal Finance Basics

In this episode of Status Post Adulting, we cover the financial essentials that you must know to cut debt, save money and build wealth.  We discuss tracking your spending, debt, savings accounts, paying bills, tax-advantaged accounts, low-cost index funds, fees, and expense ratios, and more.  This podcast is all about the tools you need to get started on your journey to financial freedom and FIRE.

Show notes & Resources: 

• Listen to Mindy Jensen, the queen of tracking spending, on the Bigger Pockets Money Podcast
• For Aggressive Debt Paydown> Dave Ramsey's The Total Money Makeover  
• For more information on how having an aggressive savings rate accelerates your path to financial independence, check out this Mr. Money Mustache article. 
• For hacks on cutting down your bills> Ramit Sethi's I Will Teach You to be Rich 
• Physician on Fire's step by step article on the Backdoor Roth
• Madfientist's article on the Mega Backdoor Roth [Not discussed on today's podcast]
• Fidelity study on the best investors
• For more information on investing simply 
  • The Simple Path to Wealth by J.L. Collins 
  • Podcast Episode with J.L. Collins on ChooseFI 
• For more information about fees and expense ratios with mutual funds vs. index funds, check out this ChooseFI blog article. 
• For more information about FI/RE, watch the Playing with FIRE documentary
• Read Your Money or Your Life   by Vicki Robin, the OG queen of retiring early

Find more show notes and interact with the Build A Wealthy Spirit community at buildawealthyspirit.com!