Inside Out Money

Are Deferred Compensation Plans (DCPs) the strategic and supercharged path to FIRE, or can a taxable brokerage account get you to the exact same place? We break down exactly how DCPs work, their risks, their realities, and how they've worked for each of us personally. The forced-savings approach of a DCP could be the ultimate in forced savings, or the flexibility of a taxable brokerage account could be just the solution we all have access to. Are you missing out if you don’t have access to a DCP? Let's figure out if this is the most amazing perk ever or a trap we should avoid.  
Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/177-the-ultimate-fire-bridge-the-truth-about-deferred-compensation-plans-vs-brokerage-accounts/

We dive into the psychology of money and discuss behavioral biases that explain why we make the financial decisions we do, even when we know better. In breaking down some of these common behavioral finance traps and mental biases, we share actionable tips to help us outsmart our own brains and improve our money habits. 
Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/176-outsmarting-your-brain-the-financial-psychology-of-behavioral-biases-and-mental-traps/

Is our obsession with comfort quietly draining our wealth and resilience? Our modern lives have engineered almost all of the friction and discomfort away. We explore the mental and financial traps of modern convenience, and why leaning into voluntary discomfort builds a more resilient mind and wallet. We share actionable practices for improving your ability to tolerate discomfort, from Misogis to pre-porterms to meditation.  
Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/175-the-high-cost-of-staying-comfortable-the-comfort-crisis-stoicism-and-misogis/

They say FI is better with friends, and we definitely think that’s true. Recorded live from CampFI Rocky Mountain week 2.0 with Liz from the Liz Gets Loaded podcast and Kathleen from The Reframe podcast, we tackle the critical role of friendship within our financial independence journey and life in general. Navigating money matters can feel incredibly isolating, especially when doing something that feels a bit against the grain. We break down four levels of FI friendships that we totally just made up, and give you our best advice for making friends in the FI community. By stepping out of your comfort zone and connecting with like-minded people, you can dramatically accelerate your financial goals and make the journey so much more fun.
Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/174-the-friendship-dividend-why-community-is-your-best-financial-asset-live-from-campfi/

There can be a fine line between frugal and cheap, but taking the time to define your own spending philosophy can help to sharpen that line. We tackle our own frugal versus cheap identity crises and define what it truly means to spend intentionally. We share specific examples of what we have trouble spending on and explore how fear and scarcity can turn a healthy money habit into pathological cheapness. By defining your own spending rules and evaluating your daily habits, you can confidently spend on what brings you joy while gracefully letting go of the rest.
Get the full show notes, show references, and more information here: https://www.insideoutmoney.org/173-frugal-vs-cheap-how-to-build-your-personal-spending-philosophy/