How A Health Savings Account Fits Into Your Family Financial Plan
Episode Details
A Health Savings Account can be a smart way to save and invest for your future health and wealth. I'm sharing how a HSA fits into our family financial plan.
Second, we’re back with our Mortgage Free Family segment! This month we’re featuring Andrew Dewar from Canada. He’s going to share how he paid off his mortgage in his 30s and how it allowed him more family time and time freedom in general.
Last, we're sharing the Good Word once again. My son Calvin and I are sharing how some neighborhood kids in Michigan gave one family an incredible Halloween surprise.
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- Good Word Story (Good News Network): https://www.goodnewsnetwork.org/kids-leave-halloween-candy-on-doorstep-after-noticing-sign-about-sons-hospitalization-leaving-family-overwhelmed/
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SHOW INFORMATION:
Marriage Kids and Money is dedicated to helping young families build wealth and happiness. This award-winning platform helps couples and parents achieve financial independence and discover the true meaning of wealth.
To achieve these big goals, we answer questions and interview experts who uncover smart net worth building habits and tools that can help everyone find their own version of financial independence.
Learn more at https://www.marriagekidsandmoney.com
HOST BIO:
Andy Hill, AFC® is the award-winning family finance coach behind Marriage Kids and Money - a platform dedicated to helping young families build wealth and happiness.
Andy's advice and personal finance experience have been featured in major media outlets like CNBC, Forbes, MarketWatch, Kiplinger’s Personal Finance and NBC News. With millions of downloads and views, Andy’s message of family financial empowerment has resonated with listeners, readers and viewers across the world.
When he's not "talking money", Andy enjoys being a soccer Dad, singing karaoke with his wife and relaxing in his hammock.
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CREDITS:
- Podcast Artwork: Liz Theresa
- Editor: Podcast Doctors
- Podcast Support: Nev Maraj
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See moreIn the latest episode of Marriage, Kids & Money, Andy Hill explores the financial tool of Health Savings Accounts (HSAs) as a component of family financial planning. Hill delves into the benefits of HSAs, describing their tax advantages and how they can be used for everyday medical expenses, long-term health care costs, and as a supplementary retirement fund. Additionally, the episode features an inspiring interview with Andrew Dewar from Canada, who shares his journey to becoming mortgage-free in his 30s, emphasizing the importance of financial freedom and how he managed to achieve it through concerted efforts to cut expenses while maintaining a stable family life. Dewar details his motivation for paying off his mortgage quickly, addressing the pressures of debt and the emotional relief that came with becoming mortgage-free. He discusses the lifestyle changes implemented to achieve this monumental task, including reducing unnecessary spending and managing household expenses creatively. Andrew further elaborates on how being debt-free has improved his family's quality of life, allowing them to enjoy more travel opportunities and financial security. The episode concludes with a discussion on the lessons Dewar hopes to impart to his children regarding financial responsibility and the value of achieving debt freedom.