9: Master Your Money with the Easy Mode Money Ladder

In this episode of Your Money on Easy Mode, Damien introduces Season Two and outlines the Easy Mode Money Ladder, a step-by-step guide to managing personal finances effectively. The conversation covers essential financial strategies, including building an emergency fund, maximizing employer retirement matches, paying off high-interest debt, and investing for long-term wealth. Damien emphasizes the importance of following the steps in order to achieve financial clarity and avoid common mistakes.

Chapters

00:00 Recap of Season One

01:00 Intro to Season Two

01:42 The Easy Mode Money Ladder

02:39 Easy Mode Money Ladder Inspiration

04:20 Step 1: Save Up for Insurance Deductibles

05:59 Step 2: Employer Match in Retirement Accounts

07:04 Step 3: Paying Off High-Interest Debt

09:50 Step 4: Fully Fund Your Emergency Fund

10:44 Step 5: Invest in IRA and HSA

12:56 Step 6: Maxing Out Employer-Sponsored Retirement Accounts

14:11 Step 7: Hyper Accumulating Savings

15:33 Step 8: Save for Other Goals

15:58 Step 9: Pay Off Low-Interest Debt

17:30 Common Mistakes to Avoid

19:40 Conclusion and Homework