192: I Make Great Money - Why Do I Feel So Broke? Finance Friday

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 30 April 2021

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

In many of our lives, we make a decent salary, we try to save and invest, but we still feel bogged down by debt. How is it possible to feel “broke” while making a great salary? That is the question that Tiara, today’s guest, is asking. Tiara works as a park ranger in Texas, but wants to take a break in the next few years to go on a big travelling holiday. This is a great idea! She’s worked very hard, managed to get some assets under her name, and needs a break. But before she can go out and explore the world, she needs to take care of some high-interest credit card debt eating away at her bank account and her financial sanity. Tiara is also sitting on a rental property that has appreciated since she bought it. This rental property used to be her primary residence, so she still has some emotional ties to it, but with her current needs growing greater than her need to hang on to a negative cash-flowing rental, it may be time to sell the house. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Bigger Pog its Money Podcast, show number 192, Finance Friday edition, where
0:06.0	we interview Tiara and talk about selling off underperforming assets to pay off high
0:10.4	interest debt and proper capital allocation so that she can live long and prosper.
0:16.9	You saying that as I said her over this kind of puts things into perspective because this
0:22.3	was a high and a sky year from now on even though what reality will look like possibility
0:28.8	right my God year but if the house is what's holding me back.
0:35.8	Hello, hello, hello, my name is Mindy Jensen and with me as always is my spock like cohost
0:41.1	Scott Trent.
0:42.1	I see that you still cling on to these nerdy interests Mindy.
0:47.0	Scott and I are here to make financial independence less scary, less just for somebody else to introduce
0:52.1	you to every money story because we truly believe financial freedom is attainable for everyone
0:56.4	no matter when or where you're starting.
0:59.0	That's right whether you want to retire early in travel the world going to make big
1:02.0	type investments in assets like real estate, start your own business or simply fund a gap
1:06.2	year to have a couple of adventures.
1:08.0	We'll help you reach your financial goals and get money out of the way so that you can
1:11.3	launch yourself towards your dreams.
1:14.3	Scott, I am so excited to have Tiara on the show today.
1:25.9	She is basing what she feels is a financial crisis where she doesn't really feel like
1:34.4	she has enough money saved for retirement.
1:37.2	She's also got some high interest credit card debt and some student loans and she's wondering
1:42.9	if I make so much money, how can I feel broke all the time?
	...

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