Ask Paula: Help! My Bills Are Too High

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 6 July 2022

⏱️ 82 minutes

🔗️ Recording | iTunes | RSS

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Summary

#390: We start this episode with two anonymous callers who have opposite problems: one says her bills are too high, while the other is worried that she’s saving too much. Anonymous (“Izzy”) saves A LOT. She wants to relax about her spending more, and start including more joy into her life. How should she approach the next 10 or 20 years, so that she can enjoy her financial security? A different anonymous caller (“Starlight”) has the opposite problem: her expenses are mounting. Her bills make her uncomfortable. She wants to shake up her investments so that she can tap her assets in order to make her payments. Ideally, she’d also like to buy a house in Europe within the next 10 years. How should she do this? John liked the episode with Bill Bengen, where we discussed the 4% rule. However, he questions whether that rule should really be applied to the FIRE community. Steve is a landlord who needs his property to cash flow, but doesn’t like to raise rents. What should he do? Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode390 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You can afford anything but not everything.
0:10.5	Every choice that you make is a trade-off against something else and that doesn't just
0:13.6	apply to your money.
0:14.8	That applies to your time, your focus, your energy, your attention, any limited resource
0:19.7	that you need to manage.
0:21.2	Saying yes to something means turning away other opportunities and that opens up two questions.
0:27.5	First, what's your highest priority, what matters most?
0:31.0	And second, how do you make decisions accordingly?
0:35.7	Answering these two questions is a lifetime practice and that's what this podcast is here
0:39.4	to explore and facilitate.
0:41.3	My name is Paula Pant, I'm the host of the Affordable Care Foundation podcast.
0:44.9	Every other episode, we answer questions from you, the community.
0:48.6	And my buddy, Joe Salcihi, former financial planner, joins me to help answer these questions.
0:54.8	What's up, Joe?
0:55.8	Paula, it's a doggy dog world and I'm wearing milkbone underwear.
1:00.0	That's a hell of a cold open.
1:06.3	That was a line that I just re-saw again from this old popular show, Cheers, Norm from
1:13.8	Cheers.
1:14.8	Did you ever watch Cheers?
1:15.8	I'll give you one guess.
1:16.8	No, never did.
1:18.7	This guy, Norm, was a regular at the bar and he walks in one day and they said, Norm,
	...

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