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Episode 86: Avoid the FOMO, Retire Better
Manage episode 380081785 series 2904331
Navigating Financial Strain: Tackling Rising Mortgage Costs
In this episode of the Bare Naked Money podcast, hosts Josh Sheluk and Colin White of Verecan Capital Management discuss the impact of rising mortgage rates on personal finances. They provide practical advice on how to cope with increases in monthly payments, such as budgeting, cutting unnecessary expenses, and prioritizing needs over wants. The discussion includes leveraging tools like ChatGPT for financial tips, the psychological aspects of spending, and the importance of being realistic about one's financial situation.
This episode is a must-listen for those facing financial pressure due to rising interest rates.
00:00 Introduction to Bare Naked Money Podcast
00:19 The Mortgage Renewal Dilemma
00:55 Understanding the Financial Impact
05:49 The Philosophy of Needs vs. Wants
11:27 Tracking and Budgeting Tips
17:40 The Psychology of Spending
23:00 The Hidden Costs of Siloed Decisions
25:14 Balancing Joy and Financial Responsibility
27:57 The Reality of Budget Cuts
28:52 Financial Stress Across Income Levels
29:51 The Impact of Social Media on Spending
33:16 Making Informed Financial Decisions
36:28 Practical Tips for Saving Money
42:15 The Unyielding Nature of Math
43:14 Conclusion and Final Thoughts
119集单集
Manage episode 380081785 series 2904331
Navigating Financial Strain: Tackling Rising Mortgage Costs
In this episode of the Bare Naked Money podcast, hosts Josh Sheluk and Colin White of Verecan Capital Management discuss the impact of rising mortgage rates on personal finances. They provide practical advice on how to cope with increases in monthly payments, such as budgeting, cutting unnecessary expenses, and prioritizing needs over wants. The discussion includes leveraging tools like ChatGPT for financial tips, the psychological aspects of spending, and the importance of being realistic about one's financial situation.
This episode is a must-listen for those facing financial pressure due to rising interest rates.
00:00 Introduction to Bare Naked Money Podcast
00:19 The Mortgage Renewal Dilemma
00:55 Understanding the Financial Impact
05:49 The Philosophy of Needs vs. Wants
11:27 Tracking and Budgeting Tips
17:40 The Psychology of Spending
23:00 The Hidden Costs of Siloed Decisions
25:14 Balancing Joy and Financial Responsibility
27:57 The Reality of Budget Cuts
28:52 Financial Stress Across Income Levels
29:51 The Impact of Social Media on Spending
33:16 Making Informed Financial Decisions
36:28 Practical Tips for Saving Money
42:15 The Unyielding Nature of Math
43:14 Conclusion and Final Thoughts
119集单集
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