Doug chats with Frances a year after her and her husband’s initial appearance on the show. She provides updates on her and Peter’s job situations as well as updates on all things financial – current housing situation, savings & investing strategies, spending, and expense tracking. Frances also shares some personal updates while asking listeners to provide feedback to some questions that she’s working through.
Listener Questions:
Continue to dollar-cost-average $10k per month from savings into investments or just do a lump sum?
With $18k in an emergency fund, is having an additional $40K-$48K in short-term savings practical or too much? If expenses do come up, is it better to cashflow these items instead of keeping so much in savings?
Any suggestions for budgeting apps besides Monarch Money?
Looking for a crossover or hatchback with lots of trunk space, 30K-40K miles, ideally $15K-$20K ($30K max), preferably a Honda or Toyota but doesn’t seem to be many options out there. Okay to buy a new vehicle in this situation or stick with something used? How much is the right amount to spend on a car?
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Links
Modern Bookkeeping Services
Frances & Peter on MHFI episode 245
Ramit Sethi
Monarch Money
MHFI Facebook group
Doug’s site
Check out Producer Chris’s new blog:
Epic Financial Journey
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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**
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Email the show: doug@milehighfi.com
0:00 Introduction
5:52 Updated housing situation
12:10 Cash position & emergency fund
17:43 Investments & Frances’ business
24:38 Spending
32:22 Paying off the mortgage & Peter’s job
38:17 Personal updates
45:16 Budgeting & tracking expenses
51:19 Car suggestions
