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:

About Erik Garcia

Hi there, I'm Erik. How you manage your money and other resources impacts practically every aspect of your life. I help individuals and families invest plan for a more secure and predictable financial future. Thanks for taking time on my site!

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