Financial planning and a good investment strategy, started as early as possible, is key to achieving financial freedom in retirement. The sooner you do it, the better off you are (and will be).
But many people start off doing this with no clear idea of what they are doing, which can really derail the train soon after it leaves the station. Out of ignorance, or listening to the wrong advice, people can cause serious problems for their retirement plans.
That is why in this episode of the podcast I talk to Lorraine Ell, of the company Better Money Decisions, to talk about what she sees as the Top 10 Mistakes People Make in Financial Planning and Investing.
Getting your financial house in order means cutting down on spending, living within your means, and staying within a budget. You need to reduce or cut out spending, while using your money wisely and for the right purpose.
In many ways, this is like going on a diet, but instead of cutting calories, you are cutting spending (dollars), and instead of eating the right foods, you are putting your money in the right places.
That is why in this episode of the podcast I talk with a personal finance expert who actually coined the term, The Financial Diet, through her blog and YouTube channel. Her advice goes beyond finances to discussions about lifestyle and mindset, and I encourage you to listen to what she has to say.
A major part of any effort to attain financial freedom is establishing and maintaining a good credit score. It can make the difference not only in whether you get a loan, but the interest rate that you will pay if you do. It can also decide many times whether you will get a particular job or affordable car insurance.
But how can you work to establish and maintain good credit if you don’t know how it works? How can you increase your credit score if you don’t know what goes into it? That’s why in this episode of the podcast I talk about credit reports, credit scores, what they reflect, and what you need to do to maximize it and maintain it!
In this episode, you will learn:
Starting a new year, to a lot of people, means starting fresh. One popular new year’s resolution, in fact, is getting one’s financial house in order. The first step to doing that is to have a budget, so that you will know at the outset whether you are living within your means or overspending. But is there more than one way to budget, and if so, what are they and which one is best for me?
That is why in this episode of the podcast I talk about the five budget types discussed in Erin Lowry’s book, Broke Millennial: Stop Scraping By and Get Your Financial Life Together. Discover which budget will do the job for you this year, so that you can take that essential first step towards financial freedom.