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Financial Freedom Podcast

A semi-monthly podcast that brings you advice and interviews with experts on various important topics to help you make better and smarter financial decisions in order to improve or maintain your financial situation.
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Now displaying: 2017
Dec 29, 2017

A household budget is a critical and basic part of any plan for financial freedom. It is the foundation on which everything else is built. But a budget is not something that you set and forget. You have to review and revise it regularly, so that it continues to reflect your expenses and keep you on target for your long-term goals.

December is a great time to do this review in preparation for the coming year. So in this episode of the podcast I wanted to talk about what you need to do to get ready for 2018. What better way to have a happy new year than to know that it will lead to a bright financial future!

Dec 15, 2017

One of the biggest news stories right now has to do with the tax reform bills that have been passed in both houses of Congress. They make sweeping reforms to many areas of the tax code, and each version has some differences. But as a student loan lawyer, I am most concerned about how it would affect education, and if you are a student, a parent of one, or a graduate, you should be concerned too.

So in this episode of the podcast I wanted to go over the changes and discuss what they could mean for you, and what could end up in the combined bill.

Dec 1, 2017

Whether you celebrate Christmas, Chanukah, or some other December holiday, the “season of giving” can be the biggest budget buster of them all, especially as you approach the annual finish line. A “spirit of giving” is a wonderful thing, but there are practical, financial limits that should not be ignored, or it can put you in a financial hole when the credit card bill comes in January.

 That is why, in this episode of the podcast, I talk about 15 things you can do to be sure that you are celebrating the new year on a firm financial footing after having a wonderful holiday season.

Nov 17, 2017

I have discussed in previous episodes of the podcast about the importance of having a short term and long-term financial strategy. The former is accomplished by a budget and the discipline to keep track of expenses and keep within the limits of that budget. In fact, in Episode 13 I reviewed the online budgeting tool EveryDollar to maintain that strategy.

But the long-term strategy is having savings and a retirement plan, so that you will have the peace of mind that comes with knowing that your efforts now are paying off and that your financial freedom will last for a lifetime. To help you do that, in this episode of the podcast I review Wela, an online tool that gives you the ability to gain an overall view of your entire financial situation from one free application: investments, cash, credit card debt, student loans, and real estate.

Oct 27, 2017

In most instances, pleading guilty or being found guilty of a disorderly, or petty disorderly, person’s offense (New Jersey’s equivalent of a misdemeanor) is bad enough, with the fines, costs, and sometimes jail time. But there are some things that can happen outside the judge’s sentence for the offense.

Sometimes you can lose your job! This is called employment forfeiture, and it can have a devastating effect on your financial freedom. So in this episode of the podcast I talk about this forfeiture, how it works, when it could apply to you, and what effect it can have.

Oct 13, 2017

Just about everyone knows these days that student loan debt is a real crisis in this country. With well over $1 trillion owed, and a significant amount in default, today’s college graduates are struggling with a major burden to carry through life. But there is a way for you, as their parents, to ease that burden.

The federal tax code, under section 529, has created tax incentives for contributing to a college fund. Referred to commonly as a 529 Plan, it can help you save for your child’s education. Every dollar you save (and grows with your child) is a dollar they don’t have to borrow! So in this episode of the podcast, I talk about these plans, what they are, what the money can be spent on, and whether they are right for you.

Sep 29, 2017

Achieving and maintaining financial freedom involves making the right decisions about your finances. It’s about choosing the right mortgage with the lowest interest rate, deciding with each purchase whether you want or need that item or service, and picking the right insurance company and policy options and coverage.

One important decision is where to do your everyday banking. Where do you keep your money? What institution has the best services, lowest fees, convenient branches, and the like. But it is also important to decide whether to go with a traditional bank or a credit union. So in this episode of the podcast I talk about the advantages and disadvantages of a credit union, and who should bank with one.

 

Sep 15, 2017

A lot of people do that one stupid thing in their lives that they’re not proud of. It’s that youthful indiscretion, that one brush with the law encountered by that otherwise law abiding citizen. Sometimes it’s that joint in your pocket or your car; sometimes it’s an impulsive grab for goods in a store that leads to shoplifting charges.

Fortunately, courts in New Jersey recognize this and give you a one-time "out" for these charges, called a "diversion." Two of them, Conditional Discharge and Conditional Dismissal, are used for minor charges in traffic court, while another, Pretrial Intervention, is used for more serious charges in county court.

In this episode of the podcast, I will discuss diversion for minor charges, as a criminal record can cause real problems for your financial freedom, often leading to the inability to get a job or a higher paying one!

Aug 25, 2017

A person’s credit score is becoming more and more important, as it is used for more and more things. Now, it is not only key to getting a mortgage or a car loan, but to renting an apartment or getting insurance! There are lots of web sites out there that talk about credit and tell you what you have to do to build (or rebuild) a credit score.
 
Doing it, however, can be a daunting task, and people don’t always know where to turn for help. In Episode 27, I talked to Alex Frees of Credit Repair Publishing on tips for how to build or repair your credit for a better financial future. He is back in this episode to talk about how his company can help you through the process.

Aug 11, 2017

In New Jersey, when it comes to traffic tickets, the fines and other costs or consequences that you might incur are often not the end of the story. There are the points on your driving record as well. Although unlike other states, New Jersey doesn’t assess points for every moving violation, those that do can add up. Once they do, they can cause a major disruption in your life and threaten your financial freedom.

So in this episode of the podcast, I am going to talk about the specific ways that points can be disruptive, as well as the steps you can take to have them removed. Being proactive with your driving record can lessen the chance of problems (although driving safely and within the rules of the road to avoid tickets in the first place is even better!)

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