094. Sinking Funds

Podcast
Millennial money coach, Farrah Turcotte, joins The 411k to talk sinking funds. She shared her strategies for keeping her budgets in check while still offering herself the grace to make mistakes. From every day spending to big life event type expenses, Farrah teaches us how planning ahead and using sinking funds can help us take control of our finances.

085. Hitting the Financial Gym

Podcast

REPLAY! Check out one of The 411k original interviews! In this episode, we talk with our favorite accountability coach, Shannon McLay, founder of The Financial Gym. She shares her money story and how she started helping clients get “financially fit.” The Financial Gym pairs you with a Financial Trainer to help create a financial plan and hold you accountable to your goals. Are you ready to get financially naked?

Managing Money & Grief

Relationships

Not all money conversations are romantic. “How do you want to die?” is one of the most important and costly conversations Americans aren’t having. Don’t wait to ask the tough questions until the end! It can be hard to talk about death with a loved one but we need to be talking about how to prepare for death before it happens.

Where do we even start? Don’t just bring it up out of the blue. Make sure they know it’s coming so they can come to the table prepared. “When you have time, I’d like to seriously discuss our end-of-life options.”

Start with your feelings and why this is an important conversation. There is no right way to feel so they won’t feel defensive if you come at the conversation from the heart. “I worry about not being prepared in case of the unexpected and I want to ensure we respect your wishes.”

Ask questions and listen to learn! Don’t tell them their plan or offer solutions at the start. Be curious about their plan and then ask if you can create a plan together.

  1. What kind of end of life care do you want?
  2. Do you want a funeral?
  3. Do you have life insurance?
  4. Should we sell the house?
  5. Where is your will?
  6. What accounts do you have and where?
  7. Have you updated your beneficiaries?

These are incredibly tough questions but these are the questions we need to be thinking about for ourselves and asking our loved ones. These answers have big financial implications and the earlier you talk about it, the better you can prepare for a more sustainable grief process. Don’t let your grief process be compounded by debt and financial loss. The more we talk about difficult things, the more you can honor your loved one’s wishes and make unexpected circumstances easier to manage.

Check out our episode with Lisa Keefauver, in which she shared how she managed the unexpected loss of the love of her life and how we can make these conversations less taboo.

056. Financial Grownup with Bobbi Rebell

Podcast

In this episode, Bobbi Rebell, a Certified Financial Planner and host of the Financial Grownup podcast, joined us to talk about what it means to be “a financial grownup.” Bobbi shares her money story and the money mistakes that made her financially fragile in her 20s. Now, she is talking money and helping others achieve financial freedom. We recorded this episode with a virtual audience, the BC Women Innovators Network.

037. Healthy Financials and Healthy Births

Podcast

GUEST: OLIVIA FRIEL

Olivia Friel is a mama, birth and postpartum doula, and a holistic pregnancy consultant. She is the founder of Healthy Balanced Birth, a platform for expectant mothers, partners, new parents, and birth professionals. She provides her clients with information about pregnancy, birth, postpartum, and parenthood that is specifically catered to their individual needs. She is also the voice behind the Healthy Balanced Birth and Beyond Podcast – a safe space dedicated to sharing stories and resources about everything within the birth space, specifically topics that are not talked about enough. 

KEY TAKEAWAYS:

Note: These numbers are averages as of August 2020 and vary by state and hospital.

Having a baby in Massachusetts on averages costs:

Vaginal birth with insurance: $7,741.64
Vaginal birth without insurance: $14,549.03

C-section with insurance: $11,012.54
C-section without insurance: $19,879.60

Hospitals generally charge more! On average, hospitals charge $15,000 for vaginal delivery and $30,000 for a c-section!

Home births range from $1,500 to $3,000 paid directly to the midwife.

On average, other expenses including supplies, labs and doula can add on an additional $2,000. An epidural costs on average $2,100.

Prenatal Testing such as ultasounds cost on average $280. CVS testing for abnormalities and chorionic villus sampling can cost $1,300 to $4,800. For high risk pregnancies, amniocentesis can cost $1,000 to $7,200.