Key Insights
Why did the guest move to Austin, Texas?
The guest moved to Austin because she has friends in the area and she was excited about the city. She loves the outdoor activities and the live music scene in Austin.
What are the guest's primary sources of income?
The guest's primary sources of income are her job in retail at Lululemon and her side job walking dogs through Rover.
How much does the guest estimate she spends in a month?
The guest initially estimates she spends around $3,800 per month, but later discovers she actually spends $5,294.
What major financial mistake does the guest realize she has made?
The guest realizes she has been spending more money than she earns, leading to significant debt and financial strain.
What is the guest's plan to address her financial issues?
The guest plans to save more, cut unnecessary expenses, and possibly pick up more dog walking jobs to increase her income.
What does the guest aspire to do professionally?
The guest aspires to teach yoga and possibly work in analyst or consulting positions, leveraging her economics degree.
How does the guest justify her spending habits?
The guest justifies her spending habits by emphasizing the importance of travel and experiences to her, even if it means going into debt.
What advice does the host give the guest about her credit card usage?
The host advises the guest to close her credit cards and use a debit card instead to avoid further debt accumulation.
What is the guest's attitude towards her financial advisor father?
The guest acknowledges her father's financial expertise but seems to have not fully utilized his advice, leading to her current financial predicament.
What is the guest's long-term financial plan according to the host?
The host outlines a two-year plan for the guest to pay off her debts, save for emergencies, and start contributing more to her retirement fund.
Chapters
- Guest earns $17.50 an hour at her retail job, working around 30 hours a week.
- She also walks dogs, earning $350 a week, but hasn't claimed this income for taxes.
- Her total income is around $3,800 a month, but she spends $5,294 a month, leading to financial strain.
Shownotes Transcript
