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Optimal Finance Daily

Optimal Finance Daily

Author: Optimal Living Daily | Diania Merriam

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Optimal Finance Daily, hosted by Diania Merriam, the innovative mind behind the personal finance conference EconoMe, takes you on an enlightening journey through the world of finance. Each episode brings to life the most compelling and practical advice from leading financial bloggers and experts. Diania’s engaging narration and insightful commentary transform complex financial concepts into relatable, actionable insights. Whether it’s budgeting, investing, debt management, or money mindfulness, she covers it all, making financial wisdom accessible to everyone.


Gain not just knowledge, but also the motivation to apply it in your daily life. It's not just a source of financial tips; it’s a daily companion that guides you towards financial freedom and savvy money management, all delivered with Diania's trademark enthusiasm and expertise.


Listen now, and become an OLD friend--your optimal life awaits...

2674 Episodes
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Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2672: Michelle Schroeder-Gardner, through her journey detailed on MakingSenseOfCents.com, illustrates the transformative power of side hustles. By leveraging extra time to generate additional income, she not only eradicated her student loan debt but also embarked on a path of financial independence, allowing for travel and entrepreneurship. This narrative underscores the potential side hustles have to not only alleviate financial burdens but also to explore and test new business ventures, ultimately leading to a more diversified and secure income stream. Read along with the original article(s) here: https://www.makingsenseofcents.com/2015/03/4-reasons-to-make-extra-money.html Quotes to ponder: "Due to my past side hustles (most of which now comprise my full-time business), I was able to pay off my student loans completely, travel, quit my job, start my own business, and more." "By diversifying your income with multiple income streams, you will have a backup plan." "My side hustles turned into my full-time business." Episode references: "The Ultimate List Of Gig Economy Apps" by Kevin Ha on Financial Panther: https://financialpanther.com/the-ultimate-list-of-gig-economy-apps/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2671: Jeff Rose of GoodFinancialCents.com demystifies mortgage points, shedding light on their potential benefits and drawbacks. He navigates through the intricacies of buying points to lower interest rates, the considerations of homeownership duration, and the fluctuating real estate market, offering valuable insights for those pondering this financial decision. Read along with the original article(s) here: https://www.goodfinancialcents.com/mortgage-points-should-you-buy-them-what-are-they/ Quotes to ponder: "Pay $3,000 for a point now, and you could save that much and more later on over the course of the loan." "The real value of a point is not always so simply calculated." Episode references: IRS Topic no. 504, Home mortgage points: https://www.irs.gov/taxtopics/tc504 Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2670: In "Break the Paycheck-to-Paycheck Cycle and Start Saving," Vicki Cook and Amy Blacklock of WomenWhoMoney.com offer actionable steps to overcome the common yet challenging situation of living from one paycheck to the next. Their guidance is a beacon of hope for individuals struggling with financial insecurity, providing practical strategies for debt management, mindful spending, and the cultivation of savings to secure a more stable financial future. Read along with the original article(s) here: https://womenwhomoney.com/stop-living-paycheck-paycheck/ Quotes to ponder: "Living this way is a frustrating reality for many women. This is a serious problem." "To total your debt: Add up the balance on every credit card you have, total any outstanding loans, and add in your mortgage if you own your home." "Just start. Don’t wait until for a new week, or next month. And don’t make taking control of your finances a resolution for next year." Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2669: JL Collins's exploration of the emotional and financial facets of homeownership versus renting, "Roots versus Wings," delves into his personal journey from owning houses he didn't love to embracing the flexibility of renting. He contrasts the deep-seated desire for a permanent home with the liberating option of mobility, framing the debate within a broader historical context of human settlement and mobility. Collins emphasizes the importance of understanding the financial implications of our living choices, advocating for a conscious decision-making process that balances emotional desires with economic realities. Read along with the original article(s) here: https://jlcollinsnh.com/2013/03/20/roots-v-wings-considering-home-ownership/ Quotes to ponder: "The choice is yours. But as with everything you chose to buy, be sure you take the time to know what it will cost." Episode references: The 2023 State of the Nation's Housing report: https://www.jchs.harvard.edu/state-nations-housing-2023 Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2668: Neiko Johnson with MoneyMiniBlog.com unveils the critical steps toward achieving financial freedom, emphasizing the importance of understanding personal financial goals, creating and adhering to a budget, eliminating debt, saving effectively, and investing in one's future. Johnson's guide is a roadmap for anyone looking to escape the paycheck-to-paycheck lifestyle and secure a financially stable future. Read along with the original article(s) here: https://moneyminiblog.com/budgeting/7-steps-to-financial-freedom/ Quotes to ponder: "When you travel towards success, you must go through the road of pain first." "A budget puts you in control and gives you the ability to tell your money how to behave." "Being financially free simply means you control your finances." Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2667: Kevin from FinancialPanther.com challenges the notion of using work as an excuse to avoid pursuing financial independence. He argues that even those who enjoy their jobs should strive for financial freedom to truly understand if their work passion stems from interest or necessity. This perspective invites readers to reconsider their savings habits and the underlying motives behind their work-life choices, encouraging a shift towards financial autonomy and the liberation it brings. Read along with the original article(s) here: https://financialpanther.com/use-work-excuse-not-reach-financial-independence/ Quotes to ponder: "Even if you have no intention of retiring, you still need to save money." "The only true way to know if you enjoy working is to save aggressively to the point where you could retire early if you wanted to." "Enjoying work and reaching financial independence aren’t mutually exclusive." Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2666: Shawna Scafe of Simple on Purpose.ca shares insightful tips on extending grocery shopping to a two-week cycle, a practical approach for those aiming to minimize frequent store visits while adhering to budget and meal planning. This guide not only offers a strategy to tackle the challenge of keeping groceries fresh but also emphasizes the importance of inventory management, proper food storage, and mindful consumption to make the most out of your grocery haul. Read along with the original article(s) here: https://simpleonpurpose.ca/two-week-groceries/ Quotes to ponder: "Our cupboards are full of money we’ve already spent and forgot about. Gotta use this stuff up!" Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2665: Andrew of DollarAfterDollar.com draws an intriguing parallel between the "Broken Windows" theory and our financial habits, emphasizing the significant impact small, seemingly negligible habits can have on our overall financial health. By addressing these "financial broken windows," such as excessive spending in one area, we can prevent larger issues from arising and ensure our money works better for us. Read along with the original article(s) here: https://www.dollarafterdollar.com/why-the-small-things-matter/ Quotes to ponder: "Once disorder begins, things can get out of control." "If you are not getting what you intend out of your money, it is time to fix the 'broken windows'." "Time is the most valuable financial asset we have." Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2664: Diania Merriam shares insights from Lisa Harrison of MadMoneyMonster.com, who reflects on everyday items she and her partner stopped buying to achieve significant savings. The list includes avoiding new car purchases, cutting cable TV, minimizing paper product expenses, using alternatives to shaving cream, refraining from soda and juice purchases, skipping professional family photos, and being mindful of pet care expenses. The episode highlights how small changes in spending habits can lead to substantial financial benefits over time. Read along with the original article(s) here: https://madmoneymonster.com/2015/11/06/things-we-just-stopped-buying/ Quotes to ponder: "I often see posts in various forums or on social media where people like to criticize how other people spend money. But here is the thing, everyone has different preferences, and there are no rules on what makes something a morally good or bad purchase." Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2663: In this episode, Diania Merriam shares Sara Stanizai's post from ProspectTherapy.com, addressing the pervasive issue of doom spending in 2024. Sara explores the connection between anxiety and impulsive spending, defining doom spending as a harmful coping mechanism. The post provides insights into breaking this cycle by understanding its roots and offering practical, healthy coping strategies to manage anxiety effectively. Read along with the original article(s) here: https://www.prospecttherapy.com/blog/2023/12/1/ky0iiakglgb3uj9id5szt1vwa7ics1-wgbhf-c68kj Quotes to ponder: "Doom spending is a term used to describe the pattern of compulsive or impulsive buying driven by feelings of anxiety, stress, or a sense of impending doom." Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2662: In this episode, Diania Merriam narrates Sierra Black's blog post from GetRichSlowly.org, emphasizing the importance of setting smart financial goals. Sierra introduces the SMART goal-setting system, highlighting the need for goals to be Specific, Measurable, Attainable, Realistic, and Timely. The post explains why setting meaningful goals is crucial for financial success and how it serves as a roadmap to guide financial decisions. Read along with the original article(s) here: https://www.getrichslowly.org/setting-smart-financial-goals/ Quotes to ponder: "Goals are incredibly powerful tools. They're useful for a diverse array of things, from getting clarity on what you want to staying motivated for the long haul." Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2661: In this episode, Diania Merriam narrates Paula Pant's blog post on AffordAnything.com, discussing three unconventional approaches to significantly boost savings. Paula challenges conventional financial advice, suggesting an 80/20 budgeting approach, earning more through side gigs, and making earth-shattering changes to cut back on significant expenses. Read along with the original article(s) here: https://affordanything.com/3-unconventional-ways-super-charge-savings/ Quotes to ponder: "Earning extra money, and saving every dime of that excess income, is the single fastest and best way to super-charge your savings rate. Why? In one word: Habit." Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2660: In this episode, Diania Merriam continues to narrate Andrea Joy's blog post, "The Stages of Financial Management - Part 2." Andrea reflects on her journey through financial stages, discussing her struggles in making the right financial choices, sacrifices, and gradual progress. She highlights her transition from "Teenager" to "Adulting" by sharing personal experiences such as creating a 401k, saving money, paying down debt, and eventually entering the "Mature" stage. The post concludes with a word of warning about the stages of financial management, emphasizing the need for constant evaluation and adaptability. Read along with the original article(s) here: https://www.savingjoyfully.com/blog/the-stages-of-financial-management Quotes to ponder: "Recognizing the urgency in progressing to the 'Adulting' stage of financial management is another paradigm shift that can be helpful." Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2659: In this podcast episode, host Diania Merriam reads the first part of Andrea Joy's blog post titled "The Stages of Financial Management." Andrea explores the developmental stages individuals go through in understanding personal financial management. Drawing parallels with the growth process, she discusses stages from being a baby, completely dependent on others, to reaching maturity, characterized by consistent planning, budgeting, savings, and good financial choices. Andrea shares her personal journey between the "Teenager" and "Adulting" stages and the realization of the importance of managing money effectively. Read along with the original article(s) here: https://www.savingjoyfully.com/blog/the-stages-of-financial-management Quotes to ponder: "Financial literacy is not a side effect of wealth. Rather, wealth is a side effect of financial literacy!" Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2658: In this podcast episode, Dr. Neal narrates Rachel Trotta's blog post, "5 Eating Goals That Aren’t Fad Diets." The post discusses alternatives to restrictive fad diets and introduces five achievable eating goals: cooking more meals at home, changing snacking habits, eating more protein, drinking more water, and tracking or journaling food. These goals focus on sustainable changes that lead to long-term health benefits. Read along with the original article(s) here: https://racheltrotta.com/fitness/fad-diet/ Quotes to ponder: "You can change your eating without going on a fad diet with strict rules. These small shifts are approachable, easier to maintain over time, and will add up to big results." Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2657: Host Diania Merriam introduces the blog post by Stacker with RadicalFIRE.com, which provides valuable insights on strengthening retirement savings. The article suggests practical tips, including assessing net worth, prioritizing debt payment, cutting unnecessary subscriptions, boosting emergency funds, maximizing 401(k) contributions, and setting new savings goals. The episode aims to guide listeners in optimizing their finances for a secure retirement. Read along with the original article(s) here: https://radicalfire.com/retirement-savings/ Quotes to ponder: "Saving for retirement, like many personal goals, is not a competition against anyone else. But, like other goals, sometimes you need to stretch your horizons to continue to grow." Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2656: In this podcast episode, host Diania Merriam narrates a blog post by Kathleen Coxwell of NewRetirement.com. The post discusses the often confusing language of personal finance, breaking down essential financial concepts and terms to empower listeners in their financial journey. The episode aims to demystify topics like inflation, assets, diversification, cash flow, rate of return, risk tolerance, assumptions, home equity, present value/future value, and lifetime income. Read along with the original article(s) here: https://www.newretirement.com/retirement/money-talks-but-do-you-speak-the-language/ Quotes to ponder: "Lifetime income refers to income that you will receive for as long as you live, no matter how long that turns out to be." Episode references: "The Simple Path to Wealth" by JL Collins: https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926 Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2655: Erik Carter of FinancialFinesse.com illuminates the often-overlooked conflicts of interest in the financial planning industry, drawing from his extensive career to explore how financial incentives can shape advice. He advocates for unbiased financial guidance, suggesting options like employer-provided financial education or independent advisors who charge flat or hourly fees, to ensure that financial advice serves the client's best interests, not the advisor's financial gain. Read along with the original article(s) here: https://www.financialfinesse.com/2012/01/19/3317/ Quotes to ponder: "It is difficult to get a man to understand something when his salary depends upon his not understanding it." "Unfortunately, they have a conflict of interest. This is the main issue that I have with most of the 700,000 people who call themselves financial advisors." "The way they are compensated means that most of us will never have access to unconflicted financial advice." Episode references: Let's Make a Plan: https://www.letsmakeaplan.org/ EconoMe Conference YouTube Channel: https://www.youtube.com/channel/UCaZHcGgBO42McWZPaSIJhYw Hello Nectarine: https://hellonectarine.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2654: Philip Taylor of PTMoney.com delves into the complex decision of using loans to pay off debt, offering a critical examination of various loan types and their implications. Taylor emphasizes the importance of addressing the underlying causes of debt and exploring self-managed debt reduction strategies, cautioning against the potential pitfalls of simply transferring debt through loans without solving the root financial behaviors. Read along with the original article(s) here: https://ptmoney.com/getting-a-loan-to-pay-off-debt/ Quotes to ponder: "Just because you can get a loan to pay off your debt, doesn’t mean you should." "People who consolidate debts this way often find themselves in dangerous levels of debt again." "Shortcuts might help you get out of debt quicker, but your habits will inevitably land you back in debt eventually." Episode references: Ramsey Solutions' Debt Snowball Calculator: https://www.ramseysolutions.com/debt/debt-calculator Calculator.net's Debt Payoff Calculator: https://www.calculator.net/debt-payoff-calculator.html Learn more about your ad choices. Visit megaphone.fm/adchoices
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2653: Ira Israel explores the profound relationship between our mindset towards money and overall happiness in "Mindful Money." He delves into societal views on wealth, contrasting the scarcity mentality with beliefs in abundance and how these perspectives shape our lives. Israel's insights encourage a reflective examination of our own attitudes towards money, urging a shift towards valuing freedom and personal fulfillment over financial status. Read along with the original article(s) here: https://iraisrael.com/mindful-money/ Quotes to ponder: "A man is a success if he gets up in the morning and gets to bed at night, and in between he does what he wants to do." ~ Bob Dylan "I desire more freedom, ease, opportunities, and options." "Any problem that can be solved by money isn’t a real problem." Episode references: "Class: A Guide Through the American Status System" by Paul Fussell: https://www.amazon.com/Class-Through-American-Status-System/dp/0671792253 "The Tyranny of the Meritocracy: Democratizing Higher Education in America" by Lani Guinier: https://www.amazon.com/Tyranny-Meritocracy-Democratizing-Education-America/dp/0807078123 Learn more about your ad choices. Visit megaphone.fm/adchoices
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Comments (35)

Play1xp

hmmm

Aug 2nd
Reply

john smith

Did you solve your problem? I am facing the same situation. https://www.emorypatientportal.net/

Jul 27th
Reply

Michele DuBrey

I

Jul 24th
Reply

Kevin Clyde

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Apr 12th
Reply

Sophie G.

simply amazing 👍👍👍 thx

Nov 18th
Reply

Kevin Higgs

my favorite podcast

Sep 27th
Reply

Nicole Foss

55qht8p7t 9

Sep 13th
Reply

Christian Hobbs

p ö u m ö

Sep 7th
Reply

Yiyo Ostos

lio illummúbkjjukmkm

Jun 13th
Reply

Ryan Schaub

a key message for everyone!

May 5th
Reply

Mohammed Mehrvand

Hello I am an English teacher and a YouTuber, i just wanted to use some of your podcast on my channel for practicing engish and I can invite them to subscribe to your channel. that would be great if I had your permission. thank you.

Oct 14th
Reply

Man in the Moon

I can understand both sides. On the one side, the majority of people who are good with money won't have a million dollars, and probably won't until they're in their 50s or later. That doesn't mean that their advice is worthless until they've made it. On the other side, plenty of people will give unsolicited advice on money while being terrible with it. I think what it comes down to is knowing who the advice is coming from.

Feb 25th
Reply (1)

Man in the Moon

I knew a guy who paid something around $800 per month who said he'd never be able to retire, and I believe him.

Feb 5th
Reply

Angel J. Segura

Thank you for helping people to improve their finacial literacy.

Nov 30th
Reply

Man in the Moon

Some of the financial problems people face can be because of poor choices, but it's hard to deny the fact that people aren't making what they did a couple generations ago, and those generations encourage and put pressure on the future generations to live up to the same lifestyle.

Oct 30th
Reply

Man in the Moon

This feels more like bragging than it does helpful advice.

Oct 30th
Reply

Man in the Moon

This isn't a very good example. It is highly doubtful that a more expensive school will guarantee you a 50% pay increase for your first job. It would have been a better example to compare saving up for school for several years vs getting a loan and starting the career job sooner.

Sep 4th
Reply

Man in the Moon

With a Roth, you're betting that you'll have a higher tax bracket in retirement and that taxes will be higher in the future. Considering that most of us on here should have high savings ratios and that we are at a historic low for taxes, that's a bet I'll make.

Dec 19th
Reply

Rogier Blokhuis

awesome post!

Dec 6th
Reply

Man in the Moon

Can you really claim to be "self made" while inheriting a family business? To claim the majority of Forbes richest list are self made requires a very liberal definition.

Nov 24th
Reply
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