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The Financial Diet

Budget Girl, Sarah Wilson, On Building Wealth And Owning Real Estate While Low-Income

The Financial Diet

TFD

Business

4.3548 Ratings

🗓️ 4 April 2022

⏱️ 49 minutes

🧾️ Download transcript

Summary

Chelsea and Sarah, AKA Budget Girl, talk about living frugally, from owning rental properties for passive income as a non-rich person to day-to-day budgeting habits. Head to https://policygenius.com/TFC to get your free life insurance quotes and see how much you could save. Budget Girl on YouTube: https://www.youtube.com/c/BudgetGirl/videos Subscribe to The Financial Confessions podcast here: https://thefinancialdiet.podbean.com/ Rate + review us on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-financial-confessions/id1484287750 TO FIND US: The Financial Diet site: http://www.thefinancialdiet.com Facebook: https://www.facebook.com/thefinancialdiet Twitter: https://twitter.com/TFDiet Instagram: https://www.instagram.com/thefinancialdiet

Transcript

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0:00.0

Hello everyone and welcome to an all new episode of the Financial Confessions. It is I, your host,

0:05.7

Chelsea Fagan, founder and CEO of the Financial Diet and a woman who loves talking about money.

0:10.3

And I'd like to say thanks to PolicyGenius for supporting this episode of the Financial Confessions.

0:14.7

PolicyGenius is your one-stop shop to find and buy the insurance you need. Head to

0:18.8

PolicyGenius.com slash TFC to get your free life insurance

0:22.2

quotes and see how much you could say. And today my guest is someone that I have known in the personal

0:26.9

finance space for several years now. We've been to conferences together. We've collaborated on work stuff.

0:32.1

We've been in mastermind groups together. She's done events with us. She is a person who, if you

0:36.3

have an interest in personal finance and have been kind of in this space for a while yourself, especially if you're a lady, you probably have come across her work at some point or another. She's also someone that I think has an extremely unique and actionable perspective on a topic that is very interesting to a lot of people who want to take a slightly more active role

0:55.3

in the kind of investments they're making throughout their lives. We talk a lot on this show

0:59.6

about investing in the market and sort of more passive ways of generating wealth. And it's

1:05.0

very important that most of us participate in that, especially for things like saving for retirement.

1:09.7

And for most people, investing especially with things like retirement for retirement. And for most people investing,

1:11.2

especially with things like retirement accounts, are going to be a huge part of your overall

1:15.1

wealth building strategy. But another really big way to both secure long-term wealth,

1:20.0

to generate passive income, and just generally to make the best financial decisions possible,

1:25.0

is in our real estate choices. Now, most of us will end up buying a home

1:29.4

at some point in our lives, which for many of us, including even myself up to the point that I bought

1:33.7

my first home last year, remains kind of a mysterious process. But beyond that, we know that for many

1:39.2

average Americans, the homes that we live in, the homes that we own, maybe even the homes that we rent

1:43.8

out,

1:49.6

are going to be a big part of our overall long-term wealth building strategy. It's also an area that many people find, quite frankly, kind of fun and an area in which you can have a lot more

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