I Got No Car Note! With Nolin Frias

In this episode of the Stuff About Money podcast, Erik Garcia, CFP® and Xavier Angel, CFP®, sit down with Nolin Frias CFP®, CPWA®, CIMA®, CSRIC to chat about how to never have a car note again, or at least the option of no car note

Episode Highlights:

• Nolin shares a little bit about himself. (3:51)
• Nolin explains that not all debt is bad debt. (9:27)
• Nolin shares how he manages his expenses with his pay structure and what he hopes it will look like in the future. (13:22)
• Nolin talks about his grandmother’s perspective on debt where there was no good, bad, or middle-of-the-road debt; it was just a matter of avoiding debt at all costs. (18:37)
• Nolin talks about the personal part of personal finance and how he and his wife manage theirs. (20:51)
• Nolin admits that his father is the polar opposite of him in that he has leased a car his entire life. (37:34)
• Nolin believes that driving a less expensive car will help him achieve more goals due to the financial flow and that he can reallocate those resources. (40:26)
• Nolin mentions that he is now reading The Millionaire Next Door. (43:27)

Key Quotes:

• “The word of the day is optionality. It’s giving yourself the options to be able to make decisions that are in your best interest for the present and the future.” – Nolin Frias, CFP®, CPWA®, CIMA®, CSRIC
• “It’s being thoughtful about your decision making. And if you think it through, and you’re educated on it…it’s just having the understanding of, is this costing me something else?” – Nolin Frias, CFP®, CPWA®, CIMA®, CSRIC
• “So for me, that’s something that really stands out that not all debt is bad.” – Nolin Frias, CFP®, CPWA®, CIMA®, CSRIC

Resources Mentioned:

• Nolin Frias, CFP®, CPWA®, CIMA®, CSRIC LinkedIn
• Erik’s Interview with Dee-1
• Erik Garcia, CFP®
• Xavier Angel, CFP®, ChFC, CLTC
• Plan Wisely Wealth Advisors
• Angel Wealth Strategies