Action Item: Find your local library and go visit it this week. If you don't have a library card, get one. If you already have a card, ask the librarian what services beyond books you can access.

Summary

In this episode, I break down why the library is one of the most underrated money-saving tools available to young professionals. I share how the library has saved me hundreds of dollars over the years and explain how it offers way more than just books. From digital content and professional equipment to community events and even state park passes. I walk through Sariah's story, a 24-year-old who moved to Madison, Wisconsin for her first job and was spending $400 a month trying to make friends before discovering the library. She cut her social spending from $400 down to $80 while actually building real community. The library can help you save money, build community, and get away from screens, all for free!

Resources & Links Mentioned

"8 Ways the Library Can Save You Money in 2024" - Natrona County Library: https://www.natronacountylibrary.org/8-ways-the-library-can-save-you-money-in-2024/

"Surprising Library Benefits That Will Save You Money" - Rachel Teodoro: https://www.rachelteodoro.com/2020/02/surprising-library-benefits-that-will.html

"6 Ways Your Local Library Can Save You Money" - The Week: https://theweek.com/personal-finance/6-ways-your-local-library-can-save-you-money

"New ALA Report: Gen Z & Millennials are Visiting the Library & Prefer Print Books": https://www.ala.org/news/2019/12/new-ala-report-gen-z-millennials-are-visiting-library-prefer-print-books

Libby App (for borrowing ebooks and audiobooks): https://libbyapp.com/

Timestamps

[01:22] The problem: feeling like you need to buy everything new from Amazon

[03:00] Four high-impact ways libraries save you money (digital content, professional development, legal resources, studio equipment)

[03:32] How the Libby app works and why waiting isn't actually a drawback

[05:17] My library receipt shows I've saved hundreds of dollars

[07:00] Sariah's case study begins: New grad spending $400/month trying to make friends

[08:27] The moment Sariah discovered free library events while seeing another paid networking ad

[10:12] How Sariah cut her social spending from $400 to $80 by using the library

[11:32] Why Gen Z and millennials prefer physical books (twice as many as digital)

[13:29] The surprise money-saving tip: Borrowing state and national park passes from your library

Email me at fpyapod@gmail.com

Action Item: Write down three financial goals you think you "should" have. Next to each one, write whose voice you hear when you think about it. Is it your parents? Instagram? Your friends? Then circle the one goal that feels like it's truly YOURS. That's where you start.

Summary

In this episode, I tackled one of the biggest questions on every young adult's mind: why does money feel so impossible right now? I shared how my wife and I have been wrestling with the pressure to buy a house and how we finally realized we were chasing goals that weren't even ours. Through my research, I walked through the real data on why things are genuinely harder for our generation, from skyrocketing housing prices to student loan debt that's 13% higher than what Millennials faced. But I also highlighted the advantages we have that previous generations didn't, like access to free financial education, low-cost index funds, and the power of automation.

Then I introduced Stacy, a 27-year-old teacher making $67,000 with $40,000 in student loan debt who feels like she's drowning with only $245 left each month. My guest Dana Thibodeau and I dug into how Stacy (and anyone feeling stuck) can move the needle by focusing on both sides of the financial equation, building momentum with small wins, and shutting down societal pressure about what you're "supposed" to do with your money. Yes, things are harder, but you're not powerless, and your goals should reflect what you value.

Resources & Links Mentioned

Pew Research: "On the Cusp of Adulthood and Facing an Uncertain Future: What We Know About Gen Z So Far" - https://www.pewresearch.org/social-trends/2020/05/14/on-the-cusp-of-adulthood-and-facing-an-uncertain-future-what-we-know-about-gen-z-so-far/

LendingTree Study: "Millennials Better Financially Than Previous Gens" - https://www.lendingtree.com/debt-consolidation/millennials-financial-condition-study/

Newsweek: "Gen Z has a serious debt problem" - https://www.newsweek.com/gen-z-struggling-pay-debt-student-loans-1868611

Bankrate: "Gen Z's Unique Money Mindset And Approach To Financial Wellness" - https://www.bankrate.com/personal-finance/gen-z-money-mindset/#sources-of-financial-stress-for-gen-z

Intuit: "Beyond the Budget: How Younger Generations Are Easing Stress with Financial Wellness Habits" - https://www.intuit.com/blog/innovative-thinking/beyond-the-budget/

Dana Thibodeau's Instagram: https://www.instagram.com/learnmoneywithdana/

Dana Thibodeau's website: https://danathibodeau.com/

Timestamps

[02:30] My personal story: How my wife and I stopped chasing the housing goal that wasn't ours

[07:08] The net worth paradox: Why being "richer on paper" doesn't mean we can afford life

[11:00] Why delaying milestones might actually open up better opportunities

[12:28] The good news: Gen Z's tech savviness and unique money advantages

[13:50] Financial stress affects 61% of 18-35 year olds and why talking about money matters

[18:04] Interview with Dana begins: What young adults have going for them

[20:00] How to take advantage of time and risk when you're young

[22:00] Using technology and automation to build momentum

[25:19] How to avoid getting stuck in the mud of negative financial news

[28:29] Stacy's dilemma: Drowning on a decent salary with competing priorities

[38:31] How Stacy's COVID stimulus win can build momentum going forward

[39:21] Compare down, don't compare up: Celebrating your financial wins

[41:34] Getting started: The power of a financial audit and learning everything you can

Email me at fpyapod@gmail.com

Action Item: Open a high-yield savings account this week and transfer your emergency fund into it, or get started with just $100 today to build momentum.

Summary:

In this episode, I break down everything you need to know about emergency funds without the overwhelming advice that leaves you paralyzed. I share why 54% of Americans don't have enough saved for three months of expenses and how you can break out of that statistic starting today. I walk through the exact process my wife and I used to set up our emergency fund, including which banks to use, how much to actually save (spoiler: it's probably less than you think with a barebones budget), and most importantly, when you should actually use your emergency fund. I also tackle the big question nobody answers: should you invest your emergency fund or keep it in savings?

Resources & Links Mentioned:

Fidelity article on emergency fund guidelines: https://www.fidelity.com/viewpoints/personal-finance/save-for-an-emergency

Goldman Sachs three-question framework for using emergency funds: https://www.marcus.com/us/en/resources/saving/when-to-use-an-emergency-fund

Bankrate emergency savings statistics: https://www.bankrate.com/banking/savings/emergency-savings-report/

Free Emergency Fund Planning Guide: Email me to request

Timestamps:

[01:28] The problem: 24% of Americans have zero emergency savings

[03:16] How to save: Start with $1,000, then build to 3-6 months of expenses

[04:40] Should you invest your emergency fund? Why the answer is no

[05:14] Mental reframe: Think of your emergency fund as a debt you owe yourself

[06:04] The three key questions to decide if you should use your emergency fund

[08:00] Real-world scenario: Imagine making $60k with no emergency fund

[09:29] My implementation process: How my wife and I set up our emergency fund

[11:00] The shortcut to calculate your emergency fund amount without perfect tracking

[12:00] Automation is key: Set up direct deposit straight into your high-yield savings

[13:28] How to actually spend your emergency fund when the time comes

[14:41] My favorite thing: Emergency funds cut your emergencies in half

Email me at fpyapod@gmail.com