As the year 2020 comes to a close, it’s time to start thinking about our financial goals for 2021. This year has presented some challenges and shown us how important it is to plan for bad times, so that when they come, we are ready, and our financial freedom isn’t threatened.
That’s why in this episode of the podcast I step you through what you need to do to look over this past year, learn from it, and use that information to create a solid financial plan going forward.
In this episode you will learn:
In Episode 114 I started a series of episodes around reducing expenses in your budget in order to help you live within your means and have money left over to save for the future. It was also in follow up to Episode 113 in which I talked with “Tightwad Todd” Miller about living below your means.
That’s why in this episode of the podcast I take on that expense that seems to get bigger, your cell phone bill. It’s a budget line item I discuss a lot with my bankruptcy clients, and one that can be tough to keep under control. But with these tips and tricks, you should be able to tame that beast.
In this episode you will learn:
Due to the COVID-19 pandemic, many people have lost their jobs because their employer had to close up shop; the work could not be done remotely. Some of them were able to pivot successfully to other jobs or transfer their skills to one that can be done from home.
Unfortunately, many others are still looking. That may be because they haven’t been able to figure out how to apply their skills in a different context, or they aren’t looking in the right places. That’s why in this episode of the podcast I wanted to talk about where to look for remote work, who’s looking for remote workers, how to handle the application process, and how to succeed at that job once you get it.
In this episode you will learn:
Way back in Episode 13 of the podcast I did a review of an app from personal finance guru Dave Ramsey called EveryDollar. It is an app my wife and I have been using since then, and it’s great! But there are a lot of other apps out there that can help you keep your finances straight, and one of them might be better for you than EveryDollar.
Which is why in this episode of the podcast I wanted to look at three other apps that might be more up your alley: Pocket Guard, YNAB (You Need a Budget), and Personal Capital. There are even more out there, and that could be the subject of another episode, but hopefully one of these will be just right for you!
In this episode you will learn about:
People trying to achieve personal financial freedom are often initially struggling with debt and trying to get out of a financial hole. They are getting letters from collection agencies and law firms that are demanding that the debt be paid. They have to get out of debt before they can ever hope to achieve their goal.
But people in debt, in my experience, are often dealing with collection lawsuits that result in judgments, and these judgments can be very problematic when the lawyers who obtained it start trying to enforce it. That’s why in this episode of the podcast I wanted to talk about the three biggest collection tools the lawyers have, and what you can do once they start to use them.
In this episode you will learn:
In Episode 113 of the podcast I talked with “Tightwad Todd” Miller, a personal finance consultant and coach on the subject of spending below your means. I did this because reducing spending as much as possible to free up money to save and invest for the future is a key part of achieving long term financial independence and freedom.
So, I thought it might be a good idea to follow up with some episodes on how to reduce spending in various budget categories. One big one is the cable bill, and with a technological revolution going on in how we consume video content, there are lots of opportunities to cut costs while not sacrificing entertainment value.
In this episode you will learn about:
Achieving financial freedom in the short term requires living within your means. In other words, your monthly expenses need to total no more than your monthly net income, so that you don’t sink into debt. But achieving long term financial freedom requires even more discipline; you need to live below your means.
By doing this you generate unused income every month to put towards savings and long-term investing, so that you will have a net worth to support you in retirement. But how do you do that? To give you some tips, I brough personal financial services consultant Todd Miller onto the show to tell you about them.
In this episode you will learn:
Every business should have a web site to promote its goods and services and attract new customers, especially as more of them are functioning virtually. Despite this, so many of them don’t have a web presence, or just have a domain name for e-mail. By not having one they are leaving money on the table and passing by an opportunity for growth.
That’s why in this episode of the podcast I wanted to talk about getting on the web with a great site and using it to attract and covert new customers for your business. These tips can help you grow your business and help ensure your personal financial freedom.
In this episode you will learn:
With the COVID-19 pandemic going into its sixth month, many businesses have either filed bankruptcy, closed for good, or have shed employees to slim down. No matter the cause, a lot of people are now out of work and looking for a new job. This has become especially urgent with the end of the supplemental unemployment benefits under the CARES Act.
Looking for a job during a pandemic presents a special challenge. That’s why in this episode of the podcast I wanted to talk about some tips and ideas to increasing your chances of employment and getting back on your financial feet.
In this episode you will learn:
A major part of the American Dream is to strike it rich, to become a millionaire. However, for the vast majority, that is just a dream. 3.5% of our population holds nearly half of our wealth. Back in 1996, a couple of Ph.D.s, Thomas J. Stanley and William D. Danko, decided to do some research into America’s millionaires. The surprising answers they got are reflected in the title of their book, The Millionaire Next Door.
That book provides all sorts of great information about what millionaires look like, how they got to be millionaires, and why so few of them successfully pass on their wealth to their children. That’s why in this episode of the podcast, I wanted to talk about this book (which has been updated over the years), how it lays out how these people became millionaires (or at least wealthy), and how you can use this information to become wealthy (and maybe even a millionaire) as well!
In this episode you will learn: