It’s crazy to think that this year is coming to an end so soon! 2021 had its ups and downs, but the biggest thing that came out of this year was starting FIREd Up For Allied Health. It was scary at first, but after I attended FinCon in Austin, TX, in September, I was inspired to finally take the plunge and dive into this passion project of mine to help other allied healthcare professionals take control of their financial life.
Here is a list of my top blog posts of 2021 for you to go back and read!
I have to give credit to these 4 all-star podcasts for helping me learn more about the world of personal finance and the FIRE community: ChooseFI, Afford Anything, Frugal Friends, and Marriage Kids and Money.
When my husband started commuting part time to LA from San Diego in September of 2019, he got into listening to podcasts. I couldn’t understand it – I found them to be incredibly dull, and I much preferred to jam out to music while I drove. But he would come home from his 2 hour drive, he would talk to me about what he learned from whatever podcast he was listening to at the time. At the time, it went in one ear and out the other. I would hear “index funds” or “investing” or “financial independence” and I could care less. I was happy for him that he found entertainment in podcasts, but I just stuck with my 2000’s throwback playlist on Spotify.
Once I finally caved in and started listening to these podcasts, let me tell you… I was HOOKED. I didn’t think I could learn so much from people talking into my ear while I walked the dogs, or while out on a long run, or while commuting once we started going back into work. I found myself diving deep into these podcasts, and basically catching up to my husband so that we could plan our financial future together and, to his relief, finally be on the same page.
Most (if not all) that I know about the personal finance and the FIRE community I learned from these people. Click here to access that blog post, where I list out my favorite episodes from each of these amazing podcasts.
If your New Year’s resolution is to read more, then I would highly suggest picking up one of these 5 personal finance books that I recommend in this blog post. From index fund investing, to budgeting, to the FIRE community, to real estate and entrepreneurship, to lifestyle improvement, these books all have had a huge impact on me this past year.
Click here to access my summaries and the links these amazing books and start reading today!
A high yield savings account (HYSA) is a savings account that you can open that earns above average yields as compared to your basic savings account that you may have gotten with your checking account. Some of these banks do have brick-and-morter locations, but most of them are actually online banks. So you can transfer your money into these accounts from the comfort of your couch!
While the average traditional savings account has an annual percentage yield (APY) of only 0.01%, this means that as your money is sitting in your savings, earning you back next to nothing, it’s losing its value over time due to inflation.
With a HYSA, the APY is higher, around 0.50% APY. You earn back more money off of your deposits, and when you take compound interest into consideration, you can rest assured your money is not losing its value over time.
Click here to learn more about how to open and use a HYSA for your savings.
As allied health professionals, we are BUSY, amirite? We don’t have time to sit at a desk all day and day trade! And let’s be real, if you’re not in that realm (and even if you’re in that realm – cue the distain from those people lol), it’s a HUGE gamble. And most professional investors tend to not even keep up with the market in the long term. So since we can’t control the market, let’s focus on what we can control, which are the fees.
Index funds are a type of mutual fund that are designed to track the performance of stock market indices. Instead of hand-selecting the stocks you hold, the fund’s manager buys all (or a representative sample) of the stocks or bonds in the index it tracks. The philosophy behind index funds is that this type of investment allows you to pay low fees, brings diversification of a few asses classes, to which you hold onto for the long term.
Click here to learn more about how index funds can be a great way to invest your money for the future.
Once you are ready to start being a more savvy spender, this blog post is for you. I go over how to figure out what your core values are, and how they relate to your spending and shopping habits. Understanding where your money comes and goes will allow to you have more control over your finances, simply because you’re keeping track of it now. And the first step is to determine your core values.
Determining your core values can help you figure out not only what you are spending your precious time and money on, but WHY you are making these choices. And if you find that your choices do not align with your values, you can set up your budget to more accurately reflect your values down the road, so you can be happier with your financial choices.
Click here to learn more about establishing your core values and connecting them to your financial life.
As we come into 2022, I look forward to continuing to help educate you on your personal finance journey. Comment below and let me know what you are interested in learning more about!
If you are ready to take the next step in your journey towards financial independence, and want some one-on-one mentoring in your finances, let’s work together to help you on your personal finance journey! Click here to sign up for your FREE 20 minute consult.
Note: I am not a certified financial advisor/planner or a certified financial analyst or a CPA or an accountant or a lawyer. Remember, I am an allied health professional, just like you! This website/blog is for entertainment and educational purposes only. Please consult with your financial advisor(s) regarding your personal finance, investment, and tax matters.
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