Simple Money, Rich Life with Bob and Linda Lotich – EP 248

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The idea of practicing money in simplicity sounds a bit complicated but who doesn’t want to live a simple life? Keeping it uncomplicated is what we love in Frugal Friends. Join us with our guests, Bob and Linda who encourage us to find a joy-filled and purposeful point that is life-giving, earns us money, and provides for those who are in need.

If you’ve been given a skillset, money, and all of it, be a good steward and see how you can give back and enjoy life.


  • 2 episodes a week. Most of life is complicated – we’re keeping it simple. That’s it.

Bob Lotich is a financial coach married to Linda, a butterfly-chasing high-performance spender. Their new book [Simple Money, Rich Life] is the operating manual they (a middle-class couple) followed to pay off over $400k of debt and reach a personal goal of giving $1 million by age 40. For the last 14 years they’ve shared their best lessons with over 50 million readers and listeners on their award-winning blog, and SeedTime Money Podcast.

Simple Money, Rich Life and how it's different from what’s out there

Bob believes that God has done a crazy thing in their lives and they want an opportunity to share their journey as an inspiration to other people. Bob’s approach is different in a lot of ways, he leads with a grace-filled approach towards money which is not always seen.

The 4-part formula of Simple Money, Rich Life

Earning and using your God-given talents to advance your career, business, and help and serve people better. The Frugality Component: Reducing expenses, spending money wisely. Also, grow to love giving and enjoy the money we have and the process of earning.

The 1 Category Budget

There were people who were not into the tedious process of budgeting so Bob thought what if we just had one category with our budget and there’s 80% of the results and 20% of the work. Identifying the one category you typically spend on or struggle to stop spending on then putting walls in place in order to keep you from doing that.

The first steps in designing a life of eternal impact

Try paying attention to where your money is going and write down everything you spend. You’d be surprised as to how different the amount is as compared to how you thought it was. If you don’t want to write your spending, there are tools to help you identify where your money is going for the past few months.

Worst money advice we've ever heard

  • Bob: Sauna advice where man told younger person to file bankruptcy and day trade
  • Linda: The ‘you deserve it’ messaging that doesn’t consider boundaries or budget
  • Jill: YOLO
  • Jen: That the money manager knows better than you

Bill of The Week

Thank you Bob and Linda for sharing your bill about a millionaire mentor who taught you how to play jazz guitar and who shared eating out and transportation as being America’s budget killers!

Thanks so Much for Listening!

Thanks so much for listening. Many of you know we have a private community where we do monthly money challenges and offer accountability groups. We want to congratulate one of our members for a big win.

My partner sprung a leak in his house!

Because we are long haul truck drivers, this problem quickly became a bigger problem. Insurance, deductibles, quotes, contractors, the whole nine yards… and only 5 days home to handle it all!

Plumber found the problem, and it’s not an easy fix. They quoted us $5,000 for the bid. I pointed out to the plumber that clearly the guy we called out in April (from the same company) didn’t do what he billed us for because he should have found the same problem, and the plumber in front of me agreed.

So, he took the ENTIRE price we had already paid, $679 and applied it as a credit toward the work we needed to have done. Dropped the bill from $5k to $4300!

Congrats! If you want to check out our monthly challenge community head to to see what challenge we have coming up next.

And keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to And don’t forget to share your favorite quote from the episode by using the hashtag #FrugalFriendsNote. 😉

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