Sep 19, 2016
#43: Jean Chatzky, financial editor for the TODAY Show, host of
the HerMoney podcast and a frequent guest on TV shows like Oprah,
Regis & Kelly, and The View is the bestselling author of many
books, including Money Rules, which we discuss in today's
episode.
Here are a few of the Money Rules we cover:
#1: The more time you spend looking, the less happy you’ll be
with what you find. #2: Your retirement trumps their tuition.
#3: Losing money hurts more than it should.
#4: Big numbers make smart people do stupid things.
#5: Don’t lend money to friends & relatives, and don’t co-sign for
loans.
#6: If its 50% off, it's still 50% on.
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It’s not about having it all. It’s about having what you value
most. How can you match your money with your values? Jean and I
tackle this question in the second half of the podcast. This leads
us into discussing tactics that can prevent wasteful spending, such
as:
• The 10/10/10 Rule – How will you feel about this purchase in 10
minutes? 10 months? 10 years?
• The 24 Hour Rule – Delay the purchase by 24 hours. Do you still
want it?
• Only Pay Full Price – Paradoxically, avoiding sales – and ONLY
buying items at full price – might help you save more money in the
long run.
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Finally, we chat about how to balance financial priorities when you
and your spouse want different things. What if you want to retire
early, but your spouse doesn't? How do you handle this?
Jean shares her ideas on all these topics in today's episode.