Achieving and maintaining a good credit score is essential to maintaining your financial freedom. It allows you to get credit more easily and at more favorable rates. But many people are thwarted from doing this by all the myths and misconceptions that are out there about credit scores.
I talked about this in Episode 149, but in my research I found a dozen more that are out there spreading "fake news" about what can help or harm your score. So let's dispel them right now.
In this episode you will learn:
- 12 Credit Card Myths to Disbelieve
- The Truth Behind the Myths
- How to Spot a Credit Repair Scammer
- the Importance of Setting Short Term Financial goals
The news media has been talking a lot lately about inflation and the growing possibility of a recession. This has people worried about their short term financial plans, in dealing with inflation, and what a recession could do to their long term financial plans.
That's why in this episode of the podcast I wanted to talk about not only inflation (which I've addressed in previous episodes), but recession as well, and offer a few tips for preparing your finances. In this way I hope to reduce your stress by knowing that you are ready for whatever comes.
In this episode you will learn:
- How to Prepare for Possible Layoffs
- How to Take Advantage of Higher Interest Rates
- What Financial Advisors Are Telling People They Should Do
- Ways You Can Prepare for Recession Now
With inflation driving up prices and straining our budgets, we’re all looking for ways to save money. That includes increasing our take home pay by reducing the bite taken out of our paychecks by the government.
That’s why in this episode of the podcast I wanted to talk about ways in which you can increase your tax deductions and decrease your taxable income. Also, because people are often afraid to do this because they fear an audit, I will also talk about audit red flags and how to avoid them.
In this episode you will learn:
- How your college education can help pay your taxes
- How to leverage state sales tax to lower taxes
- How personal mortgage insurance can help
- How unreported income and mistakes can lead to an audit
- How the home office deduction can get you in trouble
Although unemployment is low these days, there are many that are warning that we are headed into a recession, and that not only will the hot job market cool, but that layoffs may be headed our way.
In addition, many companies that have made offers have since withdrawn them, often with people who accepted those offers having given notice at their previous job. That’s why in this episode of the podcast, I wanted to talk about what you should do if you should lose your job, or how to prepare for it if you think it will be happening in the near future.
In this episode you will learn about:
At its Worldwide Developers Conference earlier this month, Apple announced that it would be offering a Buy Now, Pay Later program as a part of its financial services to customers. This alternative form of payment for goods and services has had a resurgence during the pandemic, and Apple’s announcement has put it in the news.
But what is Buy Now, Pay Later, and should you be making use of it as part of your household finances and budget? In this episode, I will dive deep into this service and advise as to whether it is a good idea for you.
In this episode you will learn:
Back in Episode 80 I talked about Health Savings Accounts in conjunction with some high deductible health insurance plans through the Affordable Care Act. An HSA is a great idea if you have one of these plans.
However, since I have been talking about retirement planning and saving lately, I wanted to revisit this great savings option, as these accounts can serve two purposes: protect you from medial costs in a high deductible health plan and help you save for retirement at the same time. Find out how in this episode!
In this episode you will learn:
But to learn the most, talk to the HR person with your employer and/or a financial professional to get the right advice for you.
In the past two episodes, I have talked about financial education for our children and instilling them with a basic working knowledge and literacy when it comes to money. I also discussed in Episode 136 about how you should start saving for retirement in your 20s and how it can be done.
But what if you started earlier than that? What if our kids started saving for retirement even before they graduated from high school? In this episode of the podcast, I will talk about how parents can help their children start saving for their retirement and get the earliest start doing it.
In this episode you will learn:
In the last episode I talked with Jake Cousineau, a California educator who teaches financial literacy to high school students. But looking into this further I discovered that attitudes about money (called Financial Personalities) form way before a child reaches high school. Thus, teaching children from an early age (as I discussed in Episode 130) becomes very important.
That’s why in this episode of the podcast I talk with Vince Shorb, a financial wellness advocate and educator, who has developed curricula to shape financial personalities early in a child’s life.
In this episode you will learn:
When I was growing up, the boys took shop, and the girls took home ec. The latter, as we would say today, stressed gender roles, and consisted of cooking, sewing, and the like. But real home economics should deal with household finances, budgeting, credit, and the like. It should help to prepare high school students for the real world.
That’s why in this episode of the podcast, I wanted to talk about how that should change, and has been changing in some schools around the country. To that end, I invited teacher and author Jake Cousineau onto the show to discuss how he is accomplishing just that!
In this episode you will learn:
There are many challenges that face people on the road to financial freedom, including credit card debt, student loans, and a loss of employment or reduction in income. Overcoming them can be a real struggle, but necessary in reaching financial independence.
But women, particularly widowed or divorced women, face particular challenges that need to be addressed in order for them to get back onto their financial feet. That’s why, in this episode of the podcast, I talk with Certified Financial Planner Maryann Keith on how she helps women with these issues.
In this episode you will learn about: