015 | Our Biggest Money Mistakes | The Fat & Broke Podcast

Show Summary:

In episode 009, we each discuss two of the biggest money mistakes we have made in our life so far.

Let’s talk about money fails because we love to learn from failure!

Win/Fail:

In our win/fail segment:

Peter got suckered into Walmart marketing and fell victim to impulse buying. FAIL.

Gary is penny-wise and pound-foolish when it comes to the dentist and now it is costing him. FAIL.

Sarah is FINALLY going on vacation! WIN.

Main Discussion:

Next, we dive into our topic of the day, “Our Biggest Money Mistakes.”

Peter:

Spending $30,000 on recreation in his 20’s and 30’s and not investing at all. The discussion also gets into the power of investing early vs. starting late.
Starting being an adult late and missing a decade or more of income has probably been a million-dollar mistake.

Sarah:

Going to college for 1 year and dropping out. This mistake cost her $6000. We also discuss the value of JuCo and a gap year to help avoid this.
Sarah is a self-professed membership whore. We discuss her addiction to memberships, specifically Lady Boss Protein Powder.

Gary:

Selling his last house vs. keeping it and renting. He has missed a decade of rental income and probably the start of his rental portfolio.
Taking out student loans he didn’t need when he was in college to lease a new Ford Explorer.

Listener Feedback:

Instagram Poll:

Facebook Comments:

Beth, Jasmin, and Cailyn left us amazing reviews recommending the podcast to their followers.

Texts:

Nicole sent a great text listing out all of the action steps she has taken based on our blog and podcast. The best part is how she is making what we say and applying it the way it fits her family best.
Diane hates Gary but has to admit she loves the podcast!

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015 | Our Biggest Money Mistakes