2025 Investing, Renting vs Buying, $$$ Planning with ‘Money with Katie’
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What are some New Year’s resolutions for financial health?
Don't worry. Money with Katie is here to put you on the path to success. It's Wednesday, January 1st. Let's ride. Neil, happy New Year's. Going to put you on the spot. What is your New Year's resolution for 2025?
Well, I usually don't do resolutions. I don't think I've made a single one or actually committed to one. Maybe those are two different things. But this year, I really want to see the two remaining United States I haven't been to. Those would be Kansas and Alaska. Those are the only two left. During COVID, I just did so many road trips and just worked from Airbnbs all over the country. So I knocked off a lot of states. I have two left.
Kansas and Alaska. Not a lot of things tying those two together would be a very long road trip as well. Maybe you have to take a cruise up to Alaska. Could be a fun winter holiday thing to do. My New Year's resolution. So last year, I tried to run every single day. I made it about two and a half months in and then got injured, so I'm going to aim a little lower this year. I think my goal is to just do my first Ironman triathlon. I've done a couple marathons. I think Ironman is the next step. Speaking of the new year, we're very excited for you all to hear this episode. Katie is one of our favorite people here at Morning Brew. She hosts the Money with Katie podcast and is one of the best personal finance thinkers and writers out there in the game right now.
Take out a pen and paper because you're going to learn so much from this podcast. We really hope you enjoy it. Katie, thank you so much for joining us and Happy New Year.
Thank you so much. Happy New Year to you, too.
So we're releasing this episode on January 1st, obviously a popular time to make resolutions for the new year. What are a couple of practical steps our listeners can take in the new year to improve their financial health specifically?
So I just had my friend Ramit Sethi on the show. So his perspective is sort of fresh in my mind right now. But something that I think he really gets right in his personal finance philosophy is this idea that you are not going to, quote unquote, become responsible with money unless you have a vision for the role that you want money to serve in your life.
How can I improve my financial vision for 2025?
Like there has to be a more alluring end state that you are working toward than just, oh, I'm going to budget because like adults budget, right? So with that being said, if you are looking to do a little bit of a checkup for 2025, whether you are someone who has this stuff locked and loaded, or you've maybe never sat down and looked at your finances before, I would say pick two different weekends to do these exercises. Don't try to do it all at the same time. Don't try to do it all at the same day. But in your first sit down with yourself, you are not going to look at your numbers at all, okay? You're just going to spend some time answering the question, where can money improve my life? Where, if I had the money, would my life really genuinely get better?
You're probably not going to sit there and be like, oh, you know, I'd order more stuff on Amazon. There's probably some specific things that you might have never actually like let yourself really dream about before. So this is an opportunity to dream big for a second. about how you would organize your life if money were not an object and then put some numbers around that. So I had a friend do this and she was like, man, if money wasn't an object, like I would get my hair washed and blow dried professionally every week. I would go into the salon and get it done so I didn't have to wash it all week. That would be amazing. So we start penciling it out and I'm like, This is like a couple hundred bucks a month.
Like we're not talking about a, you know, a billionaire level change here. It wasn't really insurmountable. But the point is you want to get a holistic vision for like, where would I live? How would I eat? How would I travel? I'm going to put some ballpark numbers around the type of life that I really want to live. And then the next time you sit down with that vision in mind.
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Chapters
8 chapters
1
What are some New Year’s resolutions for financial health?
0:08–2:25
2
How can I improve my financial vision for 2025?
2:25–9:23
3
What is the Money With Katie Wealth Planner?
9:23–13:21
4
How can I achieve financial independence?
13:21–18:45
5
What is the current state of the FIRE movement?
18:45–21:27
6
How should I approach saving in a lower interest rate environment?
21:27–25:09
7
What changes can I make to optimize my time management?
25:09–31:58
8
What is the economic overview of the last 40 years?
31:58–35:38
Speakers
3 identifiedMore from Morning Brew Daily
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