Talk Wealth to Me: Recent Episodes
Felipe Arevalo, Chase Peckham, Katie Utterback
DebtWave Credit Counseling and the San Diego Financial Literacy Center present Talk Wealth To Me: The safe-space podcast where we chat about anything and everything related to personal finance. Hosted by Chase Peckham, Felipe Arevalo, and Katie Utterback, Talk Wealth To Me is for anyone and everyone who wants to better their financial situation and improve their financial education.
Michelle Johnson shares her journey from high school to adulthood, including her marriage to Bill and their various moves across the Western United States. She discusses her experiences in college, her passion for interior design, and how she ended up in the real estate and flipping houses business. Michelle also talks about the history of Santa's Village, an adventure park in Lake Arrowhead, CA, and how she and Bill decided to purchase and restore it. Michelle Johnson and Brian Blackburn discuss the challenges and rewards of running an adventure park when she and her husband took on the project when their children were older, allowing them to focus on the park. They faced financial risks and had to deal with community outrage and permitting challenges. Michelle talks about the importance of having a clear vision for the park and sticking to it, even when faced with pressure to add more traditional rides and attractions. She also discusses the satisfaction of seeing the park succeed and the joy of seeing her grandson enjoy it.
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The boys are back for a new season with this fresh episode of Life is Life. Paula Conway, the athletic director at The Bishop's School, discusses her background in sports and coaching, her journey to becoming an athletic director, and the challenges she faced along the way. She shares her experiences as a field hockey player and coach, her transition to coaching in college, and her decision to pursue a career in administration. Paula also talks about the importance of acclimatization and safety in sports, the role of female athletic directors. She emphasizes the importance of building a strong team culture and supporting student-athletes both on and off the field. She highlights the significance of education-based athletics and the value of the high school sports experience. The conversation explores the pressure and intensity of youth sports, the role of high school athletics, the impact of club sports on recruitment, and the importance of balance and perspective for student-athletes and their parents.
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Summary
Sheldon Owen discusses his background and the new venture he has started in response to the COVID-19 pandemic. He shares his journey from being a latchkey kid with a desire for a better life to becoming a successful entrepreneur. Sheldon emphasizes the importance of having strong mentors and a supportive network of friends. He also talks about his decision to go back to school during COVID-19 and the fear and uncertainty that comes with starting a new business. Sheldon introduces his new venture, a guarantor service that helps renters who don't have the credit to qualify for a lease. SimplyMatch.com is a company that provides home surety policies, acting as a guarantor for renters who may not meet the strict requirements of landlords. They offer a guarantee to pay up to three months of rent if the renter defaults. The cost of the policy is equal to one month's rent. Simply Match aims to help renters secure the homes they want and provide peace of mind to landlords.
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The conversation revolves around the stress and anticipation of high school graduation and the decision-making process for college. The boys discuss the pressure on students to choose the right school, the financial implications of college, and the importance of college in career success. They also explore the idea of going away for college versus staying local, and the life skills that students need to learn before leaving home. The conversation explores the topic of college education and its value in today's society. They tallk about their own experiences and perspectives on the importance of college, the rising costs of tuition, and the changing landscape of higher education. They emphasize the need for individualized paths and the importance of work ethic, communication skills, and networking in achieving success.
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Get ready for an inspiring episode of "Life is Life" featuring our special guest, Tina Campbell! As a mother raising two sons (twins), one of whom has special needs, Tina's journey is a testament to resilience and determination. We discuss the importance of sibling relationships and the need to balance attention and support between her two boys as well as the important role youth sports and its community.
Through heartfelt conversations and shared experiences, Tina will reveal her strategies for supporting her son's development and ensuring he receives the care and resources he deserves. From navigating the educational system to fostering inclusivity and understanding, Tina's insights will leave you feeling empowered and enlightened.
Tune in as we celebrate Tina's unwavering commitment to making a difference in the lives of children with special needs and their families. Together, let's learn, grow, and create a more inclusive world for all. Don't miss this powerful episode of "Life is Life"!
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Chase Peckham and the boys announce the rebranding of the Boost for Our Heroes Golf Classic to focus on colon cancer awareness in honor of his late wife, Keri Peckham. The tournament will raise money for the @ColonCancerCoalition and the @ColonClub to promote early onset colon cancer awareness. Chase discusses the importance of advocating for oneself and getting regular colonoscopies. He emphasizes that colon cancer is not as well-marketed as breast cancer but is becoming one of the largest cancer deaths in recent years mostly because it isn't found early enough. The tournament will take place on Monday, October 28th at the Country Club of Rancho Bernardo.
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"Life is Life," where today's episode is about teaching kids about finances and budgeting. From allowance strategies to saving tips, we'll delve into practical ways to instill valuable money management skills in our children. Tune in for actionable advice on navigating the financial aspect of parenting. Let's empower the next generation with the tools they need to thrive! #ParentingPodcast #FinancialLiteracy #DadLife #Greenlight
Takeaways
- Teach kids about money and involve them in family financial decisions
- Be honest with kids about the value of money and the consequences of their actions
- Encourage kids to make informed decisions and understand the importance of budgeting and saving
- Treat personal finances like a business and make decisions as a family Exposing children to the concept of money early on is important for teaching them financial responsibility.
- Teaching kids about saving, spending, and making informed financial decisions is crucial for their future financial success.
- Saying no to children's requests can be challenging, but it is necessary to teach them about the value of money and making choices.
- Tools like Greenlight can help kids learn about budgeting, investing, and managing their own money.
- Teaching kids about money and decision-making skills sets them up for a lifetime of financial success.
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Summary
The conversation revolves around the topic of family vacations and the balancing different interests within the family dynamic, the impact of technology on children's engagement with outdoor activities and the importance of creating memories and exposing children to new experiences. The conversation highlights the role of parents in introducing their passions to their children and the potential for kids to develop their own interests as they grow older. We discuss the importance of pushing oneself out of their comfort zone and experiencing new things as well as the value of outdoor activities and nature in finding peace and slowing down. They also touch on the challenges of parenting and finding the balance between pushing children to try new things and respecting their preferences. Overall, the conversation highlights the benefits of stepping outside of one's comfort zone and the importance of finding joy and fulfillment in new experiences.
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In this episode, Jeff Ciccarella shares part of his life story that with Chase and Burner, He discusses his love with baseball at Mater Dei HS and Loyola Marymount as well as how he met his wife, Christy in an odd place to strike up a romance. They navigated a long-distance relationship eventually, getting married and facing the challenges of starting their life together. This conversation explores the journey of facing a cancer diagnosis, reflecting on his experience of undergoing treatment and the support he received from friends, family and medical professionals. The conversation also highlights the anxiety and fear associated with follow-up appointments and the lasting impact of cancer on one's perspective. He emphasizes the value of meaningful friendships and the need to cherish loved ones. The conversation concludes with a reminder to embrace life and the importance of genuine connections, most importantly Christy and his two boys.
Takeaways
The importance of strong relationships and surrounding yourself with supportive people
The impact of sports and teamwork on personal growth and character development
The significance of finding a life partner who is also your best friend
The value of perseverance and making the most of challenging situations Illness can have a significant impact on children, even if they don't fully understand the situation.
Children may not have vivid memories of the experience, but they play a crucial role in providing support and stepping up when needed.
The support and care of medical staff can make a difference in the overall experience of illness.
Meaningful friendships and supportive relationships are essential during challenging times.
It is important to cherish loved ones and make the most of every moment.
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The conversation explores the frequency and challenges of saying no in different areas of life. It discusses how the ability to say no evolves over time and the importance of finding a balance between saying yes and no. The guilt associated with saying no and the acceptance of a no response are also explored. The conversation emphasizes the need for self-care and the challenges of saying no as a parent. It concludes by discussing the decision-making process of saying yes and the desire to avoid being alone. The conversation explores the difficulty of saying no and the importance of experiences. It delves into the balancing act of saying yes and no, particularly in relation to spending time with kids. The shortness of life and the limited time we have with our children are also discussed. The conversation emphasizes the need to align decisions with priorities and the value of taking power naps. Overall, there is no right or wrong answer to saying yes or no, but it is important to consider our values and goals.
Takeaways
Saying no is a common occurrence in daily life, and its frequency increases with responsibilities and age.
The ability to say no evolves over time, and it is important to find a balance between saying yes and no.
Guilt is often associated with saying no, but it is important to prioritize self-care and set boundaries.
Accepting a no response from others is crucial in respecting their boundaries and choices.
The decision to say yes or no should align with personal goals and priorities, and it is important to consider the impact on one's well-being. Saying no can be difficult, but it is necessary to maintain boundaries and prioritize our well-being.
Experiences and human interaction are valuable and should be prioritized over material possessions.
Balancing yes and no is crucial to maintain healthy relationships and avoid neglecting important aspects of our lives.
Time with our children is limited, and it is important to make the most of it and create lasting memories.
Decisions should be aligned with our priorities and values, taking into account our physical and mental well-being.
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Matthew Sun joins Chase and Brian and shares his background as well as his fathers immigration journey from China to the United States. He discusses growing up in the Bay Area and the challenges he faced as a minority and a kid without direction. Matthew's story highlights the importance of family, perseverance, and finding one's path in life, his decision to join the Army and the structure and opportunities it provided during his career. The transition from military life to that of a civilian and how that shaped and prepared his journey into real estate Matthew's love for his children and his commitment to being a good father and role model are evident throughout the conversation. In this conversation, Matthew Sun discusses the challenges and joys of being a single dad. He emphasizes the importance of making time for oneself and taking care of one's physical and mental health. Matthew's ultimate goal is to be the best father he can be and to ensure that his children are happy and successful.
Takeaways
The military provides opportunities for personal growth and self-discovery, allowing individuals to find their strengths and passions.
Overcoming challenges and pushing oneself beyond comfort zones is a common experience in the military.
Transitioning from military to civilian life requires careful planning and consideration, with a focus on personal goals and family priorities.
Believing in oneself, maintaining a strong work ethic, and prioritizing family are key principles for success in both military and civilian life. Make time for yourself and prioritize self-care as a single dad.
Taking care of your physical health can lead to increased energy and happiness, allowing you to be a better parent.
Support other single dads and advocate for fathers' rights.
Balancing time with children and personal interests can be challenging, but it's important to find a healthy balance.
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In this episode, Chase and Phil discuss their Valentine's Day traditions and the stress that can come with the holiday. They also talk about the changing dynamics of Valentine's Day without Keri and how the kids celebrate it differently at different ages. The conversation then shifts to a new dating app that requires a minimum credit score to join, and the importance of discussing finances in relationships. They also share their thoughts on watching dating shows and the entertainment value they provide. The episode concludes with well wishes for Valentine's Day.
Takeaways
Valentine's Day traditions can vary from family to family or person to person, and it's important to find what works for you.
Discussing finances in relationships is crucial, as credit scores can impact future plans such as buying a home.
Dating apps that require a minimum credit score may appeal to financially-minded individuals, but it's important to consider other factors in a relationship.
Watching dating shows can be entertaining, but it's important to remember that they are often scripted and not representative of real-life relationships.
Valentine's Day is a time to celebrate love and show appreciation for your loved ones.
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Chase and Burner sit down with Paul McClintock who shares his journey from humble beginnings outside of St. Louis to finding his passion in Southern California. Paul reflects on his early life and education, growing up in Missouri and studying finance at the University of Missouri. They discuss his experiences in the medical device sales industry, including relocating to Southern California and the challenges and rewards of the job. He also discusses his transition to leadership positions and the fulfillment he finds in patient care even when not being the doctor himself. He emphasizes the importance of setting goals and putting in full effort to achieve the best possible outcomes. Paul discusses the challenges of transitioning from a peer to a boss and the importance of putting others first as a leader. He shares his experiences of leading teams and the lessons he learned along the way. Paul also talks about the significance of gratitude and how it helps him overcome dark days. He reflects on the support of his wife, Nicky, and the impact she and his boys have had on his life. He discusses his inspiration for starting his new podcast My Badass Friends and the value he sees in long-form interviews. Finally, Paul discusses his decision to leave his corporate role and focus on the next phase of his life.
Takeaways
Long-form interviews provide a platform to tell the stories of individuals who may not have mainstream recognition.
Sales is a crucial skill that drives success in everything we do, and it is important to recognize its value.
College can provide valuable experiences and networks, but it is not the sole determinant of success.
Overcoming fears and taking risks can lead to personal and professional growth.
Leadership positions can offer new challenges and opportunities for fulfillment. Setting the mind for the day and putting in full effort is crucial for achieving the best possible outcomes.
Transitioning from a peer to a boss can be challenging, but approaching the role with a selfless mindset and asking how you can help others can make a significant difference.
Leadership is about stepping out of the spotlight and giving credit to your team members. Being inspired by their success and wanting them to get all the glory is a key aspect of effective leadership.
Gratitude and perspective gained from life-changing experiences can help overcome dark days and provide a sense of purpose and inspiration.
Having a supportive partner who shares your values and supports your career decisions can make a significant impact on personal and professional success.
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In this episode, the boys discuss the importance of perspective and how not sweating the small stuff in life is so difficult when things that life presents piles up. They share personal stories and experiences that highlight the challenges of maintaining perspective and thinking, "Is this something I should really be consumed with"? They emphasize the need to focus on the present moment and take life day by day. might even be a metaphor of the sport of golf and how it relates to life, highlighting the importance of moving forward and knowing that we are never going to have every shot in our bag.
Takeaways
Maintaining perspective is crucial in navigating life's challenges.
Focusing on the present moment and not worrying about the future can help reduce stress and anxiety.
Learning from tragedy and difficult experiences can lead to personal growth and a better understanding of what truly matters.
Reaching out for support and seeking perspective from others can provide valuable insights and help in overcoming challenges.
Chapters
00:00 Reunion and Recap
01:11 The Grind of Everyday Life
03:10 Perspective and Putting Things in Perspective
06:41 Learning from Tragedy and Gaining Perspective
08:00 Balancing Perspective and Addressing Small Issues
09:23 The Importance of Perspective and Not Sweating the Small Stuff
11:24 Learning and Growing from Life's Challenges
12:22 The Fine Line Between Remembering and Moving Forward
13:26 The Challenge of Maintaining Perspective
17:22 Living in the Present Moment
19:17 Taking Life Day by Day and Focusing on the Present
21:05 The Challenges of Having the Whole Game Going Perfectly
25:37 Finding Perspective in Life's Challenges
28:23 Moving Forward and Overcoming Guilt
30:38 The Metaphor of Golf and Life
34:30 Re-tea and Moving Forward
36:15 The Importance of Reaching Out and Seeking Support
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Rae shares her inspirational journey from growing up in the West Indies to joining the US Navy and transitioning to civilian life. She discusses her career in financial services and her passion for helping others as well as emphasizes the importance of giving back to the community and shares her vision for a better tomorrow in the communities she serves. The conversation covers topics related to raising her children as a single mother to to her belief in hard work and experiencing other cultures and learning from them.
Takeaways
- Rae's journey from the West Indies to the US Navy and civilian life is an inspiration.
- Transitioning from the military to civilian life can be challenging, but with determination and adaptability, it is possible to succeed.
- Rae's passion for financial services and helping others led her to start her own business and give back to the community.
- Treating people well and making a positive impact on their lives is the key to leaving a lasting legacy. Children grow up quickly and take on new responsibilities.
- her love of different cultures.
- Financial Coach Rae provides financial coaching services.
- Rae Russell at https://www.fc4u1stopshop.com/
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In today's episode, Chase and Phil discuss the holiday season and the stress and challenges that come with it. They talk about keeping traditions alive, navigating different family traditions, and adjusting to changes in family dynamics. They also share coping strategies for dealing with holiday stress and dysfunctional family gatherings. The hosts reflect on their own holiday traditions and share a humorous story about a dysfunctional family sundae. Happy Holidays and Happy New Year!
Takeaways
- The holiday season can be stressful and challenging, especially when it comes to navigating different family traditions and adjusting to changes in family dynamics.
- Coping strategies for dealing with holiday stress include reaching out to family and friends for support, creating new traditions, and finding ways to prioritize self-care.
- Scheduling conflicts can arise during the holiday season, but it's important to communicate and find a balance between different social commitments.
- Personal holiday traditions can vary greatly, and it's important to find what works best for you and your family.
- Humor can be a helpful tool for coping with dysfunctional family gatherings and diffusing tension.
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In this conversation, Mark Sweeney shares his experiences and insights from his time in the big leagues. He discusses his opening weekend in the majors, the nervousness and reality of playing at that level, and the impact of family support. Mark also talks about the perseverance required to stay in the big leagues, the importance of being a good teammate, and the lessons he teaches his son. He shares the lessons he learned from his stepdaughters and the challenges of being a utility player. Finally, Mark discusses the impact of loss and the importance of perseverance in life.
Takeaways
- Playing in the big leagues comes with a mix of nervousness and excitement, and the reality of the experience can be overwhelming.
- Family support is crucial in the journey and having loved ones present during important moments can make a significant impact.
- Perseverance is key to staying in the big leagues, especially for utility players who face unique challenges.
- Being a good teammate and building relationships with fellow players is essential for success and enjoyment in the game.
- Lessons learned from personal experiences can be passed down to the next generation, shaping their mindset and approach to sports and life.
- Loss and adversity can be powerful motivators and opportunities for growth and resilience.
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Summary
In this conversation, Chase, Phil, and Megan Broderick discuss the complex nature of grief and the importance of creating a safe space for individuals to express their feelings. They explore the different types of grief and the stages of grief, emphasizing that everyone's grief journey is unique. Megan shares insights on supporting children and families dealing with grief, highlighting the need for validation and open communication. They also discuss the role of self-care and vulnerability in parenting and the importance of making repairs in relationships. The conversation concludes with a focus on finding hope and resilience in the face of tragedy. This conversation explores the impact of loss on personal growth and resilience. The speakers discuss the importance of communication, honesty, and challenging preconceived notions about grief. They also emphasize the power of choice and agency in generating good in the world. The conversation touches on the pressure to make a big impact and the need for comfort and support when going through tragedy. The speakers highlight the significance of talking about and remembering loved ones, as well as the role of mindset in flipping the narrative. They conclude by emphasizing the importance of being there for others and allowing vulnerability.
Takeaways
- Loss can have a profound impact on personal growth and resilience.
- Clear communication and honesty are essential in relationships and dealing with grief.
- Challenging preconceived notions about grief and embracing all emotions can lead to a healthier mindset.
- Choosing agency and generating good in the world can be a powerful response to loss.
- Comforting those going through tragedy involves talking about and remembering loved ones.
- Mindset plays a crucial role in how we respond to loss and adversity.
- Being there for others and allowing vulnerability is important in supporting one another through grief.
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This time of year is one for celebration, great food, family, friends and presents but it can be a very painful time for those who have lost loved ones they can't share this time with like they once had. Thanksgiving has just past and we wanted to discuss how much life has brought us to be thankful for even when we lose someone close to us. Rest in Peace Karen O'Hara, you will be missed!
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In todays episode Burner and the boys get a treat as soccer legend and head coach of the University of San Diego Men's Soccer team sits down to discuss everything from the roll club sports plays in today's youth landscape to the growing popularity of the professional game in the U.S.
Quinn (Quinnie) is a Northern Irish-American soccer coach and player. He spent most of his professional career in in the U.S. where he played in the North American Soccer League and Major Indoor Soccer League with the San Diego Sockers. He has coached everything from the club and high school level to Major League Soccer. He covers it all!
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To those close to Chase or anyone within earshot, it was no secret his wife, Keri, was his world. He is not shy to yell it from a rooftop. In part two of this difficult conversation, Chase reflects on the journey of losing his wife, Keri, and navigating life without her. He discusses the pain and sadness that still lingers, but also emphasizes the importance of moving forward and facing adversity. Chase shares how he and his children are coping with the loss and the support they have received from their community. He also talks about the challenges of being a single parent and the decisions he has had to make. Despite the difficulties, Chase remains hopeful and focused on raising his children and living a fulfilling life. The conversation explores the impact of personal stories and the importance of learning from others. It also highlights the supportive work environment and the need to appreciate life and cherish loved ones.
Takeaways
Life goes on even in the face of tragedy and loss.
Support from friends, family, and community is crucial during difficult times.
Parenting as a single parent comes with unique challenges and responsibilities.
Embracing what you can't control and focusing on what you can is key to moving forward. Personal stories have a powerful impact and can inspire others.
Valentine's Day episode was highly listened to, indicating the interest in the financial component of relationships.
A supportive work environment can make a significant difference during challenging times.
Learning from others and being good human beings can help us rise to the occasion.
Appreciate life, don't take it for granted, and live in the moment.
Cherish loved ones and make the most of the time we have with them.
Chapters
00:00 Introduction and Reflection on Keri's Passing
03:05 Life Goes On and Dealing with Adversity
10:13 Facing the Reality of Being Alone
18:52 Parenting as a Single Parent
28:48 Support from the Community
35:26 Moving Forward and Setting Goals
47:45 Embracing What You Can't Control
48:35 Conclusion and Acknowledgment of Chase's Journey
48:54 The Impact of Personal Stories
49:09 Valentine's Day Episode
50:19 Supportive Work Environment
51:05 Learning from Others
52:05 Appreciating Life
52:52 Cherishing Loved Ones
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In 2021 Chase's wife Keri was diagnosed with with a life altering illness that would change the course of theirs and their kids lives. This conversation delves into the journey of Peckham's as they navigate her battle with cancer. The chapters cover various aspects of their experience, from seeking the best specialists to facing the reality of the disease and living day to day. They also discuss the discovery of genetic testing and the impact it has on their children's future. The conversation explores Keri's decline and visible illness, as well as the perspective of Brian, a close friend. It concludes with the final moments and the process of finding closure and moving forward.
Takeaways
Seeking the best specialists is crucial when facing a serious illness.
Coming to terms with the reality of a disease can be a difficult and emotional process.
Living day to day and finding joy in the present moment is important when dealing with a chronic illness.
Genetic testing can provide valuable information about potential health risks for family members.
The decline of a loved one's health can be challenging to witness and accept.
Support from friends and community is essential during difficult times.
Transitioning to hospice care can provide comfort and support for both the patient and their loved ones.
Saying goodbye and finding closure is a deeply personal and emotional process.
Processing the loss of a loved one takes time and support.
Moving forward after loss involves finding strength and creating a new normal.
Chapters
00:00 Seeking the Best Specialists
45:01 Facing the Reality of the Disease
46:09 Living Day to Day
47:34 Discovering Brackens and Genetic Testing
49:14 Carrie's Decline and Visible Illness
49:59 Carrie's Illness from Brian's Perspective
50:57 Realizing the Severity of the Situation
52:25 Finding Peace in the Final Months
56:09 Transitioning to Hospice Care
59:07 Saying Goodbye and Finding Closure
01:01:41 The Final Moments
01:04:13 Processing the Loss
01:07:34 Moving Forward
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This week the boys sit down with a legend in sports talk radio and longtime L.A. Galaxy broadcaster, Joe Tutino. Joe discusses the peaks and valleys of sports talk radio, the beginning with Jim Rome and the Mighty 690 and speaking with legends, such as Ted Williams, Reggie Jackson and San Diego's own Tony Gwynn. He is candid and open about his health and his weight loss journey and his love of soccer. A truly inspirational man who has lived a long and winding road of life.
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Welcome to Life is Life. This episode we reintroduce Chase and Felipe and welcome Brian Blackburn into the fold! This is the beginning of an amazing year ahead where we talk about the trials and successes in business life, personal life, fatherhood, marriage, death and so much more, after all Life is Life!!!!
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Can you believe we are in the middle of December??? Crazy! What a year 2022 has been for us. Personal tragedy, success stories, inflation, crypto, road trips and the flu making a huge comeback after taking a back seat to Covid-19 for a bit.
In this final episode of 2022 we discuss all of those and look back to our favorite moments as well as answer some of the most common questions we were asked. Happy Holidays and Happy New Year all!
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The Holiday's are a season of joy, religion, love, Santa, reindeer, movies, food, travel, family, traditions and of course presents. With all of these things comes spending and depending on your situation a lot of spending. In this episode the boys discuss the pitfalls and joys the holiday season can bring, especially our spending.
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The American dream, being a homeowner! Owning a home is an accomplishment that almost all of us aspire too. But... Sometimes I miss the days of calling my landlord when things break and things do break! One of the most difficult breaks is when you see water dripping from an area of the house that it shouldn't. Where is it coming from? Oh, if it only were that easy!
This week the crew discusses Chase's Thanksgiving weekend of playing cat and mouse with the dripping water that was coming from his kitchen ceiling and the steps he took to find said leak (with a professional) and deal with homeowners insurance.
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This week we honor those who support our Boost For Our Heroes program. This program would not be possible without those that come out to the annual Boost For Our Heroes Golf Classic here in sunny San Diego!
Boost for our Heroes is a financial assistance and education program that benefits military members, veterans and their families. This program provides a variety of workshops, outreach efforts, and one-on-one consultations to help men and women experiencing a financial hardship become financially stable. Because of these obstacles, the Boost for our Heroes program also provides a quarterly award of $3,000 to a military member or military family. Each quarter, an impartial panel selects one recipient based on financial hardship and subsequently works with the recipient to develop an integrated financial plan. The funds for this program come directly from this event.
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Netflix changed the game of how we watch television. So much so that, many of us first tried out Netflix to see if we could avoid having to drive to Blockbuster. After all, gas prices where were closing in on $2/gallon and who could afford that extra driving? Now we spend longer scrolling to just find something to watch. But Netflix, known for giving people something to watch while they chill, is saying sharing is caring no more when it comes to passwords.
In this episode we share how we think the password crackdown might change peoples finances. Are more people adding Netflix to their budgets or will the competition continue to take subscriptions from the company that took down Blockbuster and the video stores? Will you pay more to add a friend? We also answer what streaming service we would cancel last.
So stop using info@sdflc.org and Password: Philloveskittens! to watch Netflix and register for your free 30 day trial instead. Just don't forget to add it to your budget or cancel in the next month.
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There are many products in the market that are used to incentivize us, to make purchases whether we have the funds to do so or not. Credit cards are the big brother. The little plastic card that allows us to purchase a product and pay it off over time if so choose. Of course the card charges us interest if we don't pay it all off when the invoice comes in. I the old days there was lay away. You could have a product put on hold for you to purchase on another date when you had the funds saved up. Well there is a new trend starting to become a player in the industry. Buy Now, Pay later apps are almost universal now which allows you to make a purchase, and then pay it off over four easy installments interest free. Sounds great! But we are starting to see more and more of these debts go delinquent and the CFPB is taking notice.
Today the crew discusses the good, the bad and the ugly regarding Buy Now, Pay Later and it may surprise you where they stand
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Traveling in itself can be expensive. Of course airline tickets have been on the higher side these days and inflation isn't helping the cost of everything we do and stay while visiting somewhere away from home. But airports have gotten very good at creating experiences of their own as we wait to get to our ultimate destinations. In this episode we discuss the many ways we can fork out a lot of our hard earned cash at our worlds airports.
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We are offered them for cars, plane tickets, and electronics. You might even have gotten a hundred calls to let you know that yours is about to expire even though you never purchased it. Warranties, protection plans and service plans are everywhere. But are they worth it?
Felipe shares his story of trying to get a windshield replaced by a warranty and how those events unfolded. Three years and a cracked windshield later was it a good deal? Or did he forget a very important component to personal finances. Always read the fine print!
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Regardless if you are one of Kim Kardashian's 250 million followers or not this week she may have found a way into your feed. On Oct. 3rd the SEC announced a $1.26 million penalty for an Instagram post where she was paid to share information on a crypto currency. The full team sits down and shares their thoughts on influencers like Kardashian or Floyd "Money" Mayweather promoting Cryptocurrencies. Is it morally any different than promoting other products? We also share what influencers are more likely to get us to spend our money while we are on social media.
So queue up some hashtags, post on your social media that you're listening to Talk Wealth To Me and enjoy.
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In today's world the trend is more and more venues becoming cashless. From buying beer and hot dogs to retail merchandise the ways of paying for your goods and services is ever expanding in our digital world.
Today the crew discusses what they think of this new phenomena and whether or not it's a good thing for society.
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In all the years we have been working with individuals to get a handle on their debt and finances medical debt has been a large part of it. Not just the huge bills that we hear about but even the simple co-pays or co-insurance that can throw a families budget out of whack.
Dr. Virgie Bright Ellington, MD an internal medicine physician and medical billing expert. With more than 20 years experience in primary care, psychiatric settings, and as a health insurance executive, Virgie has made it her life goal to help patients navigate the conundrum that is the U.S healthcare system.
Chase very recently navigated the healthcare system as his wife, Keri went through treatment for stage 4 colon cancer. This episode is a very personal one and one we all need to hear.
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There is no one size fits all solution to personal finances. So as you can imagine disagreements amongst professionals happen all the time. What happens when most professionals agree and the people disagreeing happen to be economists and mathematicians? Can we be right and wrong at the same time?
In this episode we discus an article Chase came across in Inc. Magazine that covered three popular financial tips that don't add up according to mathematicians and economist. Yes, we are looking at you snowball method! We know that "numbers never lie," but do they sometimes fail to tell the whole story?
Take a listen and let us know what you think? ?re we wrong? Should the math always add up?
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Children's birthday parties, anyone with kids and even those without, have attended. Parents sit around and have a drink or grab a bite to eat as kids run around with their friends and enjoy being the center of attention. But how memorable are they? Do you remember your ninth or tenth birthday party? More importantly, how much do they cost? Are there better ways to spend your money and time on your kids?
In this episode Felipe shares his idea for doing away with the parties and giving control to his kids. All while saving money, reducing stress and making it more about the birthday kid again. He borrows a page from Chase’s “experience over things” playbook and hopes he has found a more budget friendly and memorable alternative to kid birthday parties.
Please reach out and let us know what you do for your kid’s birthday or share a memorable birthday experience with us.
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It's that time of year when parents drop off their little ones at college campuses near and far. Did they pack their socks? Will they remember to call home? Or at least add you on Instagram so you can see that they are safe?
Some of the big questions parents are asking themselves are all about money. Are they ready to handle their own money? Will they be asking for a mommy or daddy bailout before the semester's end? Will student loans and credit cards lead to years of debt?
In this episode Chase returns and updates us on his personal life. Then joins Felipe to continue the conversation Felipe started on the local news. Listen as they talk young people and money. What can you look out for and what you can do today even if your little ones are still in elementary school.
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The world has changed since Steinbeck took Charley in search of America. I know my life has changed drastically since my 7,715.8 mile adventure across America in college, that was just 15 years ago!
Some think the idea of the Great American Road Trip is dying. I'm here to ask you, please start a budget and hit the road again! Katie sits down with me as I go over, things to look out for when venturing out for a 2022 (or 2023) road trip. With or without little ones, or fur babies.
Even after more than 30 thousand road trip miles (not counting any drive less than 1,000 miles) and over a thousand budgeting pretentions I miscalculated my budget. You don't have to. -Felipe
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In the personal finance world, there's been a long-running debate on whether buying a home or renting for life is better for your money long-term. But unlike rent, a mortgage comes with many other expenses, like taxes, maintenance, and upgrades. So is it more accurate to say that homeownership is more comparable to an auto loan than it is to paying rent?
In Episode #146, Katie joins Felipe for a conversation about surprise expenses they experienced during the first year of homeownership, including a surprise tax bill that hit both households.
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We love personal finances, that's no secret. Should you be thinking about personal finances all day every day? Should you find a circle of friends that only wants to talk business and finance? We think not we also want to talk about The Real Housewives or soccer. This episode Katie joins Felipe and they talk about viral tweets and other trends they see on the personal finance social media world.
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Mega Millions Lottery jackpot moved over the billion mark for the fourth time since it was introduced in 1996 in five states. Now in 45 states Mega Millions is one of the two largest lottery's in the nation. Is playing the lottery a smart move? chances of winning aren't great yet millions of people play each year.
Today Felipe and Chase discuss the lottery phenomena and whether it is smart to throw a few dollars on a ticket from time to time.
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Water is the most important natural resource we have. Life cannot go on without it. Water can be consumed in many different ways these days and we Americans sure do consume a lot. But most of us don't get this important resource out of our taps any longer, oh no, we actually buy it and buy it in many different sizes, shapes, types and now even flavors.
The Talk Wealth to Me Crew discusses how we consume water and whether or not how we consume makes a difference to both our bank accounts and our planet.
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Card declined! It has happened to all of us, the moment your card is declined and you feel the entire store is just watching you. Or maybe you forgot your money on the way to the store or you missed the "cash only" sign at the door? Embarrassing money situations come up and it doesn't always mean your finances are in trouble. This week Felipe shares a few embarrassing stories of his, one of his wife, and even of of Chase.
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We discuss shopping and over spending a lot on this podcast and of course budgets. That being said we are all human and retailers and their marketing pros know this. Fall lines, winter, spring and of course summer lines always come out in the middle of the prior season. We have all the big holidays but did you know there is a calendar with all kinds special (national) days that retailers can market products and services to us? The Talk Wealth To Me crew discuss the fun, obvious and the odd days that are marketed to us on an almost daily basis.
Happy 4th everyone!
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Content warning: This episode contains conversations related to abortion and miscarriage.
One of the most influential laws in the U.S. in the 20th century was Roe v. Wade. Giving women the right to choose and making abortion legal.
I the 21st century that law has been overturned giving the power back to States to decide whether it is legal or not. The talk Wealth To Me crew is joined by our colleague and frequent co-host to discus not only the personal, emotional and humanitarian aspect of this but of course the financial implications of this historic ruling.
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When presenting in the community one of the most common questions we get is “what about crypto?” To kick off season six we talked to our top Certified Financial Planner (CFP) volunteer Paul Lim and asked him to breakdown cryptocurrency. This week, in part two of the Cryptocurrency series we dive into what crypto and blockchain is, how they work, and what is the rationale behind creating a new currency.
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When presenting in the community one of the most common questions we get is “what about crypto?” To kick off season six we reached out to our top Certified Financial Planner (CFP) volunteer Paul Lim and asked him to breakdown cryptocurrency. The result, a two episode special on everything crypto.
Before one can understand why cryptocurrency was invented and how it gets its value we need to look back at the early days of currency. In part one we take it back to the days of kings and gold coins with a history of currency. Paul explains some of the fundamentals of all currencies and how they gain, or lose, value. If you like this episode stick around for part two next week.
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We as consumers have many choices when we choose the products and services we use on a daily basis. Some we choose because of affordability, ease of purchase or that our parents used so now we do. How often do we really know how the products we use are made or how they treat their suppliers. Well we found a company that is determined to change the way the world does business and is dedicated to creating and expanding a model of trade based on transparency, human dignity and environmental sustainability.
Just Coffee is an owner-based cooperative based in Madison, Wisconsin. Robert McClure joins Talk Wealth to Me to talk about the history of the company and the innovative way they bring their incredible coffee's to our kitchens.
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When cell phones first burst onto the scene they were for people who loved the latest technology and or could afford such luxuries. Fast forward a decade or so later and the "mobile device" is a tool that most everyone has and cannot do without. It's not just for communicating by talking to someone directly, it does that and so much more. It is our link to information, communication and so much more. This includes how we shop, make financial decisions, bank and even do our budgets. The Talk Wealth to Me crew discusses how this little device has changed everything we knew about our finances.
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Research has found that most of our money habits, including spending and saving, are largely ingrained in us by age seven based on the money relationships we’ve witnessed firsthand. Yet most of us rarely discuss our financial situation with our family. What does this have to do with the hit and Emmy winning series Schitt's Creek? This CBC/PopTV series made famous internationally on the Netflix platform brought to light the very human side of money and power.
What can a show about a family that losses everything teach us about our own personal finances. This episode we discuss the lessons, financial and otherwise, from the show.
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Buyers remorse, a term most of us have felt many times in our lives. If you haven't, well, you may not be human. In all seriousness buyers remorse is most likely the direct result of an impulse purchase. Impulse purchases (buys) are not uncommon but they do come in very different sizes, shapes and costs. We have worked with many people that drive off the parking lot and on the way home start to have a panic attack because of what they had just done (true story!). Most the time we can take it back to the place we purchased it from unless of course it's food. They don't take that back!
The Talk Wealth To Me crew discusses a very recent situation they found themselves in.
FYI... all good! Ha
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As a man of true integrity with infectious energy, Bob Wheeler’s crusade for personal growth has cross-pollinated with his accounting practice to create a new approach to personal finances. His passion is to help others gain insights about how their emotions trigger financial decisions. Bob Joins the Talk Wealth To Me crew to give his inspiring outlook on life and finances. A professional CPA by trade Bob noticed that many of his clients had many of same emotional traits when it came to their knowledge of money management.
We also touch on how climbing a mountain brought a financial epiphany.
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Math, science, social studies, history, english are of course , the core of studies our children learn in school from the time they start in kindergarten all the way through 12th grade. These subjects and others as they grow are crucial in the development of our kids as they prepare for college or the real world. But what about a skill that every single one of will have to use on a daily basis at some point?
In todays episode Chase and Felipe discuss the age old question that has again found itself in the news. Who should teach our kids about money?
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Gasoline, bacon, produce, vehicles, you name it and the cost has most definitely increased in 2022. The word we have all been hearing since we were kids but was never part of the daily conversation until now... inflation. Inflation is at its highest since 1981 and a some guy named Reagan was President. Why? Well the Talk Wealth To Me team sat went to its economics expert Professor Jim Charkins. Jim is the former Executive Director of the California Council on Economic Education (CCEE) and Professor of Economics at California State University, San Bernardino. He received his Ph.D. in economics from the University of North Carolina, Chapel Hill. He has taught at the University of Nairobi in Kenya, the Florida State University, Purdue University, and CSUSB as well as fellow California Jump $tart Coalition board member. He has many distinguished awards in the world of economics and once again Jim breaks it down so even we could understand.
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It has been a crazy number of years and the housing market in all corners of the country is riding that wave. The Federal Reserve has raised interest rates recently to try and combat the rising inflation we are seeing from coast to coast. What affect has that had on the housing market and where is it going? One Trust Mortgage Regional V.P., Kelly Kline of San Diego, CA onetrusthomeloans.com/lo/kkline joins the Talk Wealth to Me crew about those questions and more in this week's Talk Wealth to Me Podcast.
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"I want to save for a rainy day but I have credit card debt, what should I do first?", is one of the most common questions we get. The common answer is you need to pay off that debt before you can try to accumulate wealth because debt can be a drain on your resources. But the real answer is, It depends. Don't get me wrong, you should always pay off debt but it doesn't have to be an either or situation. This week the Talk Wealth To Me crew discusses the different scenarios of putting together an emergency savings and paying off the high interest rate credit card debt.
Plus they discuss other choices we make that affect us financially!
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A financial budget is obviously the foundation from which your personal finances can flourish. The trouble is budgets can be, if not followed, just a road map that is ignored. Most of us men understand that reference as we don't need or GPS's to find our destinations right? Well of course we might get to our eventual destination but did we get there in most timely and efficient manner we could have? Probably not! The same can be said of of our budgets, if not all the information is included we are not going to be making the right decisions.
In this episode we discuss a list of common expenses for most people that we may forget to include in our monthly budget. We also discuss a few of them that get a bad wrap! Looking at you @Starbucks!
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We will not have a new episode today our team decided they would rather watch the NCAA tournament than record . We know it’s selfish but it is what it is.
April Fools!
For this April Fools’ Day edition we talk about gambling in sports not only during the madness of college basketball but year round. When does gambling go from fun to problematic and where you can find help.
We also talk about the financial implications of one of country music’s biggest names Eric Church canceling a sold out show in San Antonio to go watch the North Carolina v.s. Duke Basketball game.
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Twitter can be a very tough outlet and a person can take a lot of heat for their opinion, experience, take or what ever you want to call it. One thing for sure is it is full of opinions. Recently a tweet went viral in the personal finance world when a car salesman posted this tweet..
*Just sold a 2015 Audi to a 26 year old whose main concerns were paying 0 down and having something “better than a nissan.”
Monthly $835 and she’s hype. APR 28% and she didn’t even ask*Unfortunately this is a scenario we have seen time and again. The Talk Wealth to Me crew breakdown this tweet and the responses that followed.
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GAS PRICES!!!! Yes, if you drive a car you are aware of the meteoric rise of gas prices. There are a few reasons for that but does it matter why it is happening to those of us who have to commute, take kids to practices, etc? Maybe that's great for debate with friends and family but really all that matters is what it's doing to our bank accounts and budgets! Today the Talk Wealth To Me crew with Katie, discuss the pain at the pump but also how to save yourself as much as possible.
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Youth sports is a billion dollar business that has completely changed the landscape of how our kids participate. Sports used to be seasonal, soccer in the fall, basketball in the winter, baseball and softball in the spring; enjoy your summer break. Not anymore, kids are starting earlier and playing longer seasons. Parents can pay as much $1,200 for six year olds to play soccer year round.
Chase just got back from a volleyball qualifying tournament in Salt Lake City and has two children in three travel/club sports and one pop warner. The Talk Wealth To Me Crew discusses the financial impact that families will take on to have their kids participate in sports. Is it for the right reasons?
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Losing weight and eating healthy can be expensive but does it have to be? The U.S. weight loss market came in at a record $78 billion dollars in 2019. If some of that was your money you are not alone, we contributed to it as well.
In this episode we talk personal finance and eating healthy. Can we take care of both our health and budget simultaneously?
We also learn about our own Phil's new goal to lose 50 pounds by the end of the year. His plan? Applying the principles of budgeting to calories. Also how he plans to make a profit during his weight loss journey.
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Gaming has become a part of our fabric. It's not just kids and teens spending endless hours staring at a screen. Video games have been popular since the Ralph Baer, licensed his console to Magnavox which sold to consumers as the Odyssey in 1972, according to History.com. From Intelevision to Atari, Nintendo to Sega and Xbox to Play Station the video game Industry blown up and generations are playing every day. Parents struggle with how much is enough and what kind of games should they be aloud to play? But the cost of these systems, games, downloads, equipment and downloads can add up quickly. It's not going away, so why not learn a life lesson or two on the way? This week Felipe and a reluctant Chase, discuss how gaming can be a great tool to teach personal finance and financial responsibility.
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It’s safe to say that during the pandemic even some of the most disciplined spenders made an impulse buy or two. What happens when that impulse buy is the largest purchase of your life? With the boom in the housing market many took a leap and purchased a home. Now as the dust is settling are there regrets?
The team sits down to talk about a story in the New Your Times about individuals who looking back feel it may have been better to wait. One example in particular got the debate going. Is it possible to be house poor after being able to buy a $1.45 million home? How over budget is too over budget?
Chase also asks Katie and Felipe about their experience and how they feel in the year after they took the leap and became first time home buyers in 2021.
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The home purchase and rental market in cities across the U.S. has seen prices increase drastically over the last number of years making it difficult for a lot of Americans to find affordable safe housing. This week we sit down with Windermere Homes and Estates and the Bannister Group, Mike Bannister who brings 25 plus years experience in the real estate industry which means he has seen major shifts in the market through the years.
Mike and the boys discuss the reasons for the sellers market we are in today, how we got here and what you can do if you are the seller, buyer or even a renter.
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Every year in February the eyes of the sporting world, at least here in America, tune in to watch a football game. But are they all tuning in to watch the actual game? Some, including Felipe, once again could care less about who wins the game. Instead once a year Felipe watches television for the commercials? He is not alone and companies from all industries know millions will be watching so they spend a small fortune to try and grab your attention.
This episode we ask ourselves. Do these often funny and entertaining ads really get us to go out and spend more? Could skipping the game and ads that go with it be beneficial for our budget?
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Both Chase and Felipe recently had children sent home from school due to COVID or exposure to COVID and that got them thinking. What extra financial burdens is this causing parents who can't work from home to care for their children? What about people who's job requires them to be in person? Are there laws to protect the worker?
Also, a special thank you to all of those who keep the things running!
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Saving for ones own retirement and financial goals is hard enough. When that responsibility is added to the cost of being a parent and caring for ones own parents you get the Sandwich Generation. This situation can be a financial burden to most people's budget but are all sandwiches created equal? What can you do to avoid ending up financially unprepared? How do you break the cycle? Grab a bite to eat and enjoy the conversation.
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This week we bring back a longtime friend and collaborator with the Talk Wealth crew. Professor Howard Eskew is a former banker turned educator who's passion for financial literacy is unmatched. He is the man that was behind and created a personal finance class that is offered at San Diego Mesa College. It was so popular that there is a waiting list every semester. This week we talk about how challenging and rewarding it is to teach personal finance and how students really grasp real world tools to help decision making that impact theirs and their family's lives.
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The worldwide pandemic has changed our way of life over the last year and a half with how we purchase food, clothing and goods. It has brought us drive up delivery, Uber Eats, Door Dash and more. It has also changed the way we look at life, relationships and our careers. There has been a profound shift, just go to your nearest restaurant or retail store and you will see, "we're hiring" signs. It's everywhere!
This week Nate Astle returns to Talk Wealth To Me to discuss the mental stress and trauma that people are experiencing as well as his own journey and mental health that led him to change the course of his career.
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So here we are, the final days of 2021. After a year that we all experienced a pandemic and stay at home orders we all hoped it would be a year where we got back to "normal". Well in many ways it did but it was also a year of many more challenges and new adventures. We talked about so many incredible topics and had some of the greatest guests. In this episode we look back at the year 2021 and rehash some of our favorite and not so favorite moments. We wish you all a very Happy New Year and we look forward to 2022! This episode was recorded live on zoom and Facebook December 15, 2021. The video of the recording can be found here https://www.youtube.com/watch?v=ea022_zTUsk
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Bank fees have been around forever and are costly to all of us. However overdraft fees have become all too much of the norm over the last decade. Banks seem to be relying on overdraft and non-sufficient funds (NSF) revenue to maintain their high-profit margins, according to a new December 2021 report from the Consumer Financial Protection Bureau (CFPB). Specifically, the U.S. financial watchdog agency found that roughly two-thirds of bank profits come from NSF and overdraft fees. Well it seems that report has made a few banks take action and get rid of their overdraft fees. The Talk Wealth To Me Crew discuss the the implications of this report and the subsequent moves by at least one major bank.
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The Holiday shopping season is here! We hope you have prepared your budgets and are ready to go. But has the way we shop changed forever? Our team goes over some trends they noticed and read about showing maybe Americans no longer line up with excitement for Black Friday and Cyber Monday deals. Will the malls ever see crowds like they used to? Could it be that more people planned ahead or are more people just shopping online? The Talk Wealth To Me Crew covers those topics and more.
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"Home is where the heart is", they say. For many home is where they were born and raised and no matter the situation that's where they stay. For many however the pandemic had people looking at their situations differently. One of those was former San Diego Financial Literacy Center and California resident Brad Pagano. A financial professional, veteran of the non-profit industry, Brad reflected on his life and what he wanted out of it for he and his family going forward. Less financial stress was at the top of the list and that wasn't going to be possible if he stayed where he was.
Brad joins the Talk Wealth to Me crew to discuss the financial decisions that went into moving out of the city he had lived in for 17 years and making a new life for his family.
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No one gets married with the intent of eventually getting a divorce yet it happens. Even though the number of divorces have declined still between 40 and 50 percent of marriages end in divorce. The question for those looking to end their marriages is what is it going to cost? Not just in legal fees but who is going to be responsible for what and who is going to have to pay who? Obviously there is no straight answer as everyone's situation is different. Today the Talk Wealth To Me Crew sit down with San Diego Divorce Attorney, Jennifer Zachary who takes us through all of the different scenarios that can arise during the divorce process. This is an incredibly insightful and interesting conversation which can be an uncomfortable one.
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Life is hard! Life in the twenty-first century can be and is stressful for so many reasons. The 24 hour news cycle with thousands of different sources to get you information that may or may not be true, to social media that spreads lies and hate or pictures of people in their perfect lives.
One constant for stress for hundreds of years has been money. Adding to that stress for more than five decades however, has been credit card debt. Today's episode the Talk Wealth To Me crew discusses the warning signs of credit card debt and stress and what you can do about it.
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As I was growing up I always had an idea of what marriage was like. I was a born romantic so to me it was all about love and passion. As I got older that didn't change but I did enjoy my single years immensely! I could spend my money how I wanted, on what I wanted. That thinking got me in a lot of credit card debt! My wife of 15 years was just saying the other day, "I had so much money when I was young and single". We laughed because we as a couple feel like we never have money as it seems to go out as fast as it comes in.
This week the Talk Wealth to Me crew discusses new research that seems to say that couples tend to be more well off than their single counterparts. And for some reasons that might surprise you.
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Netflix was on the cutting edge of streaming television in the early days but had seen the competition take much of the market share in recent years but that may all have changed in a flash as a new phenomena has taken over. I have to admit, I never heard of it until my wife mentioned my son's friends had watched an episode and parents were talking. Squid Game! On the surface, a very violent show from Korea that is nothing more than games to the death with endless violence. But it is so much more than that. The Talk Wealth to Me crew gets together to discuss the depth of the of the show and how financial circumstances of the characters and society in general is at the forefront of the show.
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When my kids were young they loved a show called Handy Manny. It was a child's show where the main character was very handy and fix or build anything. The reason the kids loved it was, he could talk to his tools. I was always interested because I knew I was never going to be Handy Manny. We all know people who are super handy and know there way around tools. Now I am capable but sometimes you have to ask yourself, "Can I do this project myself, or do I hire someone to do it"?
In this episode we discuss what projects we should and can do ourselves to save a buck or two or hire a professional to take on the task. This hilarious discussion is something we can all relate too!
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The COVID19 pandemic caused many aspects of every day life to change. Work life was not the exception. You have probably heard that our team records our episodes out of their kid's rooms.
Some parts of our lives are returning to "normal" but the new normal may look completely different. For some, our team included, a commute to and from the office is a thing of the past.
What implications will permanently working from home have on individual's budgets? How can you save money working from home? If you have been working from home for over a year now what have you been doing with the money you saved?
Our guys cover all this and more from their Talk Wealth To Me studios (their kid's bedrooms.)
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There are a handful of television shows that have the ability to bring us all together to laugh and cry, celebrate love, and friendship, and just life in general. During the nine seasons that The Office aired, we were given some of the most hilarious characters and iconic moments, like the time Dunder Mifflin paper company’s fearless leader Michael Scott organized a choreographed routine down the aisle at his employees’ wedding or when Pam and Jim finally get together. These are real people in very outlandish yet familiar situations.
This week the Talk Wealth To Me crew discuss the very real money and financial situations these characters find themselves in.
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In the first episode of season five we take on one of the most common question we get from parents. "How can I help my daughter and or son establish credit?"
Is there a one size fits all answer? Are there benefits to one method over the other? The guys share some tips, stories and some of the dangers of not having credit or getting credit too soon.
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Let's face it, stress is a real thing and in today's world of a pandemic that never seems to end and social media and politics a constant, it's no wonder that depression and anxiety is rampant among us. However the most common reason for stress has been around for as long as time. Money... Have it or don't finances can make stress excruciating which leads to all kinds of health problems. This week in honor of World Suicide Prevention Day, 9/10/21 we discuss the ways to mitigate those stresses to live a healthier and productive life.
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Putting on an event big or small is no easy task and can be pricey. Essential to the plans is the participation of attendees for so many reasons. The RSVP is the most important thing for the planner of the event because so many things depend on the amount of the "head count". Size and location of venue, decor and of course food and beverages. Nothing is worse and more frustrating when you have your plans, the event is here and you have NO SHOWS! Sometimes this can't be helped but in a lot of cases this is just rude. Today the Talk Wealth To Me crew discuss these situations and more. You have a story? Let us know!
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Two years ago, the San Diego Financial Literacy Center and DebtWave Credit Counseling, came together to produce and publish a podcast all about money. We called it Talk Wealth To Me, and today we’re celebrating our 100th episode!
While there are a multitude of podcasts about personal finance, our goal for this show was to really strip down financial concepts, to talk beyond how to create a budget or how to responsibly use a credit card or invest.
We wanted to share with you information about the psychology of money, to give you tips on how to better your relationship with money from not just us, but experts in their own fields. Overall, we wanted to create a safe-space where people from all walks of life could better their understanding of financial concepts and learn from other people’s financial success and failures.
As we celebrate our 100th episode, the Talk Wealth To Me team looks back on our favorite episodes, things we’ve learned along the way, and how our own relationship with money has changed.
And because we view you, our listener, as family, we wanted to share some difficult news - a personal update with you regarding the health and well-being of Chase’s beautiful bride, Keri, who you heard from in our Valentine show, Episode #070.
On behalf of our Talk Wealth To me team, we wanted to truly thank you for supporting our show during these first 100 episodes. Our plan is to continue this show as long as possible and continue to bring you new perspectives, thoughts, and opinions as it relates to personal finance, to money, to your financial health.
Cheers to another 100 episodes!
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Congratulations! Your summer has arrived! The kids are back in school or back to college, One way or the other summer as the kids know it has come to a close. This is an annual occurrence yet many of us get caught off guard and are scrambling to the malls, Target, WalMart or online to buy all of the stuff our kids "need" for the school year. Today the Talk Wealth To Me crew discuss the different ways to prepare financially for this annual ritual.
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Applying for loans has become a common financial decision for most of society over the the last 30 years or so. There are so many things banks and other industries look at when assessing risk of a given borrower including income and a credit profile. Having no credit or bad credit makes borrowing a nightmare. Either the loan could be very expensive due to high interest or you may not be offered the loan at all. One option that a borrower (and the sales person by the way) is to have a co-signer on the loan. In this episode the Talk Wealth to Me gang discuss the many pitfalls and benefits that come with it. Is it a good idea? Join us and decide for yourself.
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The world of federal student loans is changing. Especially for all of those looking to take advantage of the Public Student Loan Forgiveness (PSLF) programs. The Pennsylvania Higher Education Assistance Agency (PHEAA) or Fedloan, one of the largest student loan servicers and the only servicer handling PSLF loans recently announced it will not be looking to renew its contract as a student loan servicer. What does that mean to the millions who currently have Fedloan as their servicer? What should you do now to prepare? What should you be on the lookout for? Will your loan or forgiveness terms change? For this episode Chase sits down with our in house student loan specialist Felipe to get these answers and more.
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The Talk Wealth to Me crew breaks down this tweet that was originally posted on Reddit. This scenario comes up all the time in personal finance. Where do you stand on this???
Am I (29M) the asshole for inviting my girlfriend (28F) to an expensive vacation and expecting her to pay her share. I make a lot more than her. Hello, my, and then here's the body of it.
Hello, my girlfriend, myself, my parents and my brother and his wife all went on vacation to another country a week ago. My brother and I were the only one were the ones who did most of the planning for the itinerary. Although we did ask for everyone's input for background, I make 150,000 as an IT consultant. My girlfriend is a teacher making about 45,000. My parents are very affluent as well as my brother.
And sister-in-law my girlfriend knew this trip was coming and took on a second job waitressing on the weekends for several months to get ready for it. We have always split things. 50/50 in the two years we've been together. There were a few times on vacations where she did not go on outings with us like wine tasting, scuba diving, et cetera. She also would only eat two meals a day. Simply stating that she was on a budget. My family does favor more. High-end expensive places. My parents thought it was very strange that she only eats two meals a day on those. She normally eats three. When we got home, I asked her why she skipped out on several of the outings and only ate two meals a day. I mentioned how I heard her stomach growling one night and said, I was concerned about her having an eating disorder.
Uh, she got teary-eyed and said that three meals a day wasn't financially feasible for her. And neither were the outings that she chose not to go on. She went on three of six outings. She said she was not expecting everything to cost so much. And she was overwhelmed. She also said she doesn't know if it's going to work out long-term if she's expected to go on vacations like that with people who make so much more than her, I feel bad. I did not pick up on her discomfort sooner, but we did agree to split everything 50/50. And I don't know why she agreed to come. If the cost was an issue.
https://twitter.com/AITA_reddit/status/1409476751307194368
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The daughter of immigrant parents growing up in Minnesota, Nora Ali grew up thirsty for knowledge and opportunity. Today the Talk Wealth To Me guys sit down with Nora about the launching of a new media venture as well as her incredible path leading up to it.
Nora was most recently an anchor on Cheddar, a business and technology-focused news network which broadcasts live from the floor of the New York Stock Exchange and its other studios across New York City and Washington, D.C.
At Cheddar, Nora helped pitch and launch several specialty series, including Fast Forward: Life After Covid-19, All Hands: Race Toward Inclusion, Business of Buying, and Future of Food. She is a graduate of Harvard University and was previously a Senior Product Manager for end-to-end customer experience at the e-commerce company Jet.com, which she joined prior to its launch and acquisition by Walmart. What an inspiration!
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The word invest can be a source of anxiety for some as they get further down the road of life because they know they should. But... how and what should I invest my hard earned money in? In today's world there are so many options but what is right for you? Today's guest Kyle Woodley the Senior Investing Editor for Kiplinger.com explains some of the options we have and what might be the best options for you.
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It’s hard to find a show that has had a greater cultural impact on American life than the 90s television sitcom "Friends."From “The Rachel” haircut, to the holiday armadillo, “Smelly Cat”, and even the “I’ll Be There for You” theme song, "Friends" is a show that continues to feel relevant and relatable – even though it’s been more than a decade since the finale aired in May 2004! So relatable that the Talk Wealth to Me crew brought on a guest that wasn't born until 2008!
What does "Friends" have to do with personal finance? It turns out, so many things that the six twenty-somethings encountered in their lives resembled real life; financial decisions and situations were no different. Today, we Shoot the Financial $h!t about many of these classic scenes and topics. That guest? Clayton Peckham, who has watched every episode from season 1-10, multiple times starting at the age of 10. Sit back and reminisce with us!
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It all started with a tweet... Music, movies, sports and other live and entertainment events are big business and a lot of people are passionate about them; willing to shell out large amounts of money to experience. Some argue that it is financially irresponsible to spend hard earned money on such experiences. This is obviously subjective so we here at Talk Wealth to Me thought this is a great subject to discuss as this tweet is actually part of the reason we ourselves got into trouble when we were younger. Is he right??? https://twitter.com/smartmoneybro1/status/1405262922427867137
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Once upon a time we knew if we saw a billboard, heard a commercial on television or the radio, that we were being advertised to spend money on a new product or a new brand. But over the past few decades, advertisers noticed that pop culture influences us more than these traditional ads. So, they made a change.
With the use of “influencers,” product placement, and targeted social media ads, we now view ads for the latest and greatest as products that we need in order to be happy and fabulous. This week, Katie joins the Talk Wealth To Me crew for a discussion on how pop culture influences our spending and saving habits.
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If you have listened to this podcast often you know that we bring up budgeting in some way in just about every episode. This is because creating a spending plan (budget) is crucial to the health of your finances, especially if you are trying to pay back debt that you accumulated earlier in your life. This doesn't mean that you have to do without completely though. In this episode Chase and Phil discuss how you can create that plan to pay back the debt and still leave some for you to enjoy the life you are living now.
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"Want to go to the concert next weekend?" "Hey let's go to dinner". " Happy Birthday, here's a trip to Hawaii." In life we can all find ourselves financially at different places than others, including friends and family. This can cause anxiety and feelings of inadequacy because we may not be able to afford the same things as our friends or family. The holidays, birthdays, weddings, you name it, we all will go through this situation on one side or the other at some point, maybe even both? This week the gang discuss how to handle those situations and how it doesn't make you who you are based on what you can and can't afford at given times.
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Wedding season is right around the corner and this season could see a record number of nuptials as we come out of the pandemic. Last year so many weddings were postponed as we couldn't get together to celebrate two lives coming together as we normally would. Weddings for some people are the biggest days of some people's lives. It can be a huge cost for the couple and their immediate families. This week the crew discusses all things wedding costs but not for the bride and groom or their families but the wedding party's. Yes, those friends and family that pay for and travel far and wide for the bachelor and bachelorette parties, rehearsal dinners, wedding day and not to mention the dresses and tux/suits. Join us for some crazy stories and of course ways to make those incredible days a little less pricey for the ones standing up in honor of you.
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Summertime feels like childhood! School is almost out and the kids will be off for the summer months and sometimes to parents chagrin. But it also means fun, sun, and lemonade stands. It also means barbecues and outdoor activities and after a year in which most of us didn't leave the house it means reconnecting with friends and family and travel. Summer doesn't mean you have to bust your budget however and the TWTM crew discusses all the fun summertime fun that can be done without adding to the credit card bills!
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The cost of putting children in organized sports is a bit out of control and has been for a while according to Kids Play USA Foundation. The biggest cost being general participation fees that can range from $50 to $1,000 and depending on where you live, a lot more. It also ranges from the league and sport with which they participate. Then you throw in the equipment and it can easily run in the thousands of dollars in certain cases, most if not all, is picked up by the family of the child.
Today the TWTM "Shootin" crew discusses the positive and negatives of todays billion dollar youth sports industry and the affect it can have on families bank accounts not to mention, the time invested.
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Credit reports are one of the most misunderstood and popular topics we talk about on almost an everyday basis. Debt collections could be a close second but both can bring a lot of stress and anxiety. We as consumers have rights yet most of us have no idea what those are. Taylor Kosla, a consumer right attorney and Partner at Agruss Law Firm in Chicago, Illinois joined the crew to break down all the walls and misconceptions that are out there. We get in-depth regarding what debt collectors can and can't do, How to handle misinformation on your credit reports and how vitally important it is for us to know what's on them. We even dive into Mr. Cooper and the chaos that was the result.
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The American dream...A number of episodes back we spoke to real estate and lending experts (#078 Real Estate & Lending in a Pandemic and Beyond with Kelly Kline & Tyler Hagerla) to discuss the wild and crazy 2020 and what 2021 and beyond could look like for the residential real estate market. This week we sit down and shoot the financial $h!t with our very own Katie Utterback. Katie and her husband A.J. just recently closed on their first ever home. Congrats! We know what a crazy experience it is for first time home buyers in the current market. Katie takes us through their journey, the highs and the lows, the stresses and the thrills. Sit back, relax and join us for the real dos and don'ts of buying a home in 2021 - with a few laughs along the way.
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This week we touch on a subject that is quite disturbing. Seniors have long been taken advantage of, and quite frankly, are the prey for scams. There are many reasons for this and Mitchell Freedman, a longtime CPA and financial professional, is an expert on the subject. He sits down with us to talk about his life's work to raise awareness about financial elder abuse and how to protect those we love.
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As everyone knows we are still in the midst of a pandemic, but as vaccines make their way through our communities and the economy opens back up, we can see the light at the end of the tunnel. Could we possibly get back to normal? What is normal, though? It has been reported that Americans paid off more consumer debt this past year than any on record, almost 83 billion dollars according to cnbc.com. Though job loss was reported nationwide, those whose income wasn't impacted were able to save more this year primarily because activities and vacations were limited. This week the guys discuss how to avoid the potential financial pitfalls from being excited to do "normal" things again!
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Death and taxes., the two absolutes for every citizen in the U.S. and most other countries around the world. In the U.S. April 15 is usually a big day, the last day to file your taxes for the previous years earnings. For some tax time is one we don't look forward to to as we have to make out a check to Uncle Sam and possibly the State we live in. But for a lot of people it is a celebration! They are due a... REFUND! Woo hoo! But what should you do with that refund? The crew sits down and discusses what you can do with your refund in 2021 in the latest Shootin the Financial S...!
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When people hear the term economics they often think of graphs and a very confusing course they took in high school or college. But is that really what it is? We sit down with Dr. Jim Charkins, who likely cares more about economics and economics instruction than anyone we've met. He is the Economics Professor Emeritus and Director for Economics Education, California State University, San Bernardino, serves on many boards including the California Jump$tart Coalition, CCEE and California Association of School Economics Teachers. He is thoughtful and funny and will give you a whole new appreciation of (and possibly even love for) economics - and why it is so vital to start teaching it as early as kindergarten.
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There are many different ways to convey financial information to youth but it can be difficult to explain how so many financial realities are based on decision making. Well there is one program out there that is letting students make those decisions before they are real!
This week the gang sits down with Tena Lazano, the executive director of the Richard Myles Johnson (RMJ) Foundation, Tena is responsible for leading the Foundation, which provides resources for credit unions to deliver financial education in their communities. The Foundation serves credit unions in California and Nevada, and offers its signature program, Bite of Reality® which is a fun, two-and-a-half-hour, hands-on simulation that appeals to teens while giving them a taste of real-world financial realities.
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What an incredible year it has been. We passed the one year anniversary of the pandemic shutting down life as we know it. So many things changed in our daily lives: businesses and schools going remote, working from home, and layoffs and furloughs. In the beginning banks and lenders were giving homeowners an option for forbearance if they faced financial hardship. No one knew how this was going to affect the housing market. It has been quite the year, so we sat down with lending and real estate experts to discuss the market during the pandemic, where we are today and what they see in the future.
Kelly Kline is vice president of One Trust Mortgage https://onetrusthomeloans.com/lo/kkline and shares the latest on rates, lending and more. Tyler Hagerla https://www.corcoran.com/southern-california-real-estate/agents/vista/tyler-hagerla/102721 is a real estate professional in North County San Diego with Corcoran Global Living. Tyler gives us insight on what it's like in this seller's market for everyone, including first-time homebuyers - and what to expect if you're buying or selling.
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As we just passed the one-year anniversary of the COVID-19 pandemic changing our lives, we thought we would reflect on the past year. The financial and personal repercussions were many. We faced difficult situations, but also saw good in others and found some interesting surprises. Everyone faced challenges, yet through it all we found the human spirit is strong and resilient. People helped each other out both financially and emotionally. Some of us saved like we have never saved before, and others spent in areas they never would have dreamed. Some learned they don't need to grocery shop every day. Some became meal planners while others spent a lot on takeout to help their neighborhood businesses stay afloat.
As we enter spring and see more people get vaccinated around the world, we are optimistic that we are turning a corner, and normalcy is within sight. Whatever our new normal will be. Here's to a bright financial future for you!
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This week the Talk Wealth To Me crew sits down with Daniel Romero, director of the San Diego Military Family Collaborative (SDMFC) and the Dads Corps - two programs within the incredible nonprofit organization SAY San Diego. We discuss the many struggles that military families and veterans incur through their military and post-military careers including personal financial difficulties due to high cost of living (especially on the coasts), dealing with deployments, preparing for civilian life and much more.
Collaboration among many organizations allows the SDMFC to support those who lack things that most of us take for granted while they protect and serve our country. Daniel is one of the good ones!
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We love our cars! Over 14.5 million cars were sold in 2020 - down from 2019, but still a lot considering the economic impact of the pandemic. Buying a car is something that most of us will experience at least once in our lifetime and often we say, "I got a great deal!" But did you, really? Talk Wealth to Me sits down with Sharon Glassey of Glassey | Smith (californiaconsumerattorneys.com). Sharon has more than 20 years of experience litigating auto fraud, lemon law and Fair Debt Collection Practices Act (FDCPA) cases throughout California. We cover the biggest mistakes people make when they walk on a car lot and what to avoid. If you have ever had that feeling of clammy hands, nerves, excitement or buyer's remorse, you won't want to miss this episode.
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This week the guys sit down with Parth Asawa, a senior at Monta Vista High School in Cupertino, CA and the Director of the Financial Literacy Introduction Program which is part of the nonprofit, Youth Economics Initiative.
Parth speaks openly about how he realized he didn't know much about money and finances in the "adult" world and shared what he hopes to do to provide this important knowledge to other young people. At a young age, he recognizes that personal finance should be taught in schools before students head off to start their lives after high school. We enjoyed chatting with this young man and think you'll be as impressed by him as we were.
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This week the guys discuss the very difficult and often heart-wrenching decisions that need to be made by pet owners when caring for an ill pet. Chase discusses the roller coaster ride it has been with his dog, Jackson, over the last two years. Not just the emotional toll of caring for a sick dog, but the very real financial decisions that go with it. Most pet owners will endure this at least once in their pet's lifetime. What treatments do we choose? What is the cost involved in those treatments? Will it cure them or just sustain a normal life for a short time? And many, many more.
We all love our pets because they become a part of our families and love us unconditionally. Unfortunately other factors such as finances have to be considered, no matter how difficult those choices may be to make.
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As we've discussed on the podcast before, personal financial education for the next generation on issues of credit, debt, budgeting and how to become financially responsible adults is incredibly important. This week the guys sit down with Rebecca Ivonovich Gallagher, the chair of the California Jump$tart Coalition, whose mission is to further personal financial knowledge among California students and to empower partners, educators and communities to implement financial education in classrooms. Rebecca's passion for the subject is palpable. A former accounting professional, teacher and now a specialist in workforce development for the Sonoma County Office of Education, Rebecca shares exciting Jump$tart programs such as the Financial Foundation for Educators, and introduces us to the incredible volunteers driving the mission and introducing financial knowledge to our youth.
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The #1 most misunderstood topic in the world of personal finance (outside of investing) is consumer credit. We are constantly asked how to improve a credit score, and people expect that there is one clear answer, and they will be able to fix or build it with a tweak here or there. Many people don't even know that they have a credit rating and are shocked if it's not a good one.
This week we sit down with DebtWave Credit Counseling's Consumer credit expert and coach, Crystal Williams. She has helped hundreds of DebtWave clients and many others navigate their credit, guiding them with knowledge and sharing skills to improve it. We discuss the steps people can take to improve their credit as well as what to avoid.
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If you know our guys or have watched them present you know the truth. They may be the pros but this week's guests are the ones who keep their finances organized. Plus they can't do a #valentines episode without their better half. Valentines Day can bring a lot of emotions, emotions that can change throughout the years based on where you are in life. One thing that doesn't change is the perception that it is an expensive holiday. But does it have to be? Join us for the Valentines Day edition of Talk Wealth to Me.
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Bring on 2021! We kick off the new year with the importance of family at the forefront of our minds. We have just come off the holidays and let's face it the oddest of holidays it was for many families as traditions took a back seat to a virus. But the realities of the the holidays and a new year come to attention as credit card bills start coming in and the anxieties and frustrations that can come with it. Everyone has heard of #BlackFriday and #CyberMonday and hopefully #GivingTuesday but #BlueMonday has come and gone and most may not even know it exists. But many may be feeling it. We discuss how emotional finances can be on both sides of the equation and how important it is to put it all in perspective and the tools to creating a healthy financial future.
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Bring on 2021! We kick off the new year with the importance of family at the forefront of our minds. Financial education, financial literacy, financial capability or any name we want to put on it is at the heart of Talk wealth to Me. It is what we're passionate about and what we firmly believe people really want and yet most have not received it. Well, we have a treat for you today! Our guest is the Co-Founder and Executive Director of Pockets Change, an organization that started with this question, “Why don’t more of us learn about money when we’re kids?” That led to many more questions and away they went. There is not a more passionate champion for financial education for kids and families than Andrea Ferrero. We talk about the emotions of money and finances in the home and how they start at an early age. How families can communicate and introduce money to their children and so much more. Please enjoy!
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This has come up in almost every episode of Talk Wealth to Me since we began the podcast in 2019. It is a major part of workshops we deliver to schools, communities and organizations all over San Diego and beyond. It is the backbone of every personal and professional relationship. Yet many don't do it, for different reasons. Communication is vitally important especially when it comes to relationships. Money is the #1 reason for divorce, and according to a survey by Ally Bank 36 percent of couples reported that money was the biggest source of stress in their relationship.
In this episode, Chase and Felipe sit down and discuss the financial mistakes that couples make and how they can avoid them by communicating better.
We want to thank the crew at Saturday Night Live for a truly hysterical - and very real - skit that aired a few weeks ago. Perfect introduction for this week's podcast!
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Shootin the Financial S%# is back for a deep yet humorous look at the way we look at money.
Many studies have shown that we can train our brains to look at situations differently by telling a different story or looking at it from another angle, this is no different with how we look and feel about money and finances. The Shootin crew sits down and discusses different ways to look at our #moneymindset and and how they themselves have evolved over the years. In a year that has been so out of the ordinary the practice of #flippingthescript has never been more important.
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Whether it's a stigma or just uncomfortable a lot of women are not comfortable with money. This week the Talk Wealth to Me crew talk to Ilene Slatko https://www.linkedin.com/in/ileneslatko/ the principle and founder of DSS Consulting in the Washington D.C. area. She talks candidly about her journey and how women's brains work when it comes to money, Her Women and Their Money program and much, much more.
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Paying back credit card debt is often stressful. Many people don't know what their interest rates are, and if they do, whether that rate is a good or bad one. It can be a daunting task figuring out how to get out from under seemingly never-ending credit card debt. You can scour the internet trying to find the best ways to pay it back. You will also find that there is a ton of information, books and articles on the subject. There are also companies with programs that can help. But which one is the right one? One option is consumer credit counseling. This episode our guest is Carlos Perez, Director of Counseling Services at DebtWave Credit Counseling, Inc. We discuss the pros and cons of nonprofit organizations' services and other programs available to help.
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Working in the personal finance industry and providing education to others has shown us that there are topics that are regularly missed or misunderstood. Often we can predict the questions people are going to ask before the words even leave their mouths. No more so than in the world of consumer credit. The famous - or infamous, depending on how you look at it - credit report and its close cousin, the credit score. There are many myths that never seem to escape financial misinformation lore.
In this episode, Chase and Felipe discuss the most common myths and bring them full circle to reality. Some are total myths and some are half-truths, but we cover them all!
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The team is joined by our third team member Katie! The team catches up on financial, self care and other everyday topics like:
- How are you staying entertained during COVID
- What are some free or almost free self care ideas
- How the team did on Amazon Prime Day (Hint: Felipe didn't do as well)
- Also Chase discovered a new app
We chat about all this and more in our Quarantine Update #3.
About The ShowTo learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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Financial literacy education is vital for the financial health and future of our country. The ways in which we deliver that education are diverse. One thing we know is educating our youth in the ways of personal finance is important and Intuit, the innovative founders of Mint, Turbo Tax and Quick Books, are putting their expertise and resources into creating new technologies to to do just that. Jared Davidove, Senior Manager, Strategic Education Partnerships, is working to bring this technology to youth through those on the front lines - our nation's teachers. We talk with Jared about everything from how it began to where we are now, as well as the challenges that all financial educators face.
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Renting vs buying a house debate is one we hear all the time in the financial industry. There’s no one, easy answer because buying isn’t always better than renting. It’s not really throwing money away to rent. We dive deep into this very topic with Eric Roberge, a Certified Financial Planner (CFP) and founder of Beyond Your Hammock where he helps his clients make the best financial decisions for them and their future including whether it’s time to rent or buy a home.
rentorbuy
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This week’s guest is a true powerhouse! She had to make her way in the world at the young age of 16. Life threw many roadblocks her way including a marriage that she knew wasn’t good for her or her children. She also, like others had to endure the 2008 crash which turned the real estate market upside down
Through all of that she persevered and is a super successful real estate entrepreneur and business coach. She is co-founder of the #1 real estate team in the Atlanta metro area, and is the coach of real estate agents across the country.
He also wrote "The Million Dollar Trap" which brings together what she's learned through her time in real estate and in life. Her goal is to help women who feel stuck and help inspire them to know they can do anything.
We talk about how she put every last penny back into her business and learned how to use what finances she had to build the life she thought she never dreamed of.
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When most people think of financial planning they think of the stock market, Wall Street, or buying, selling stocks and only for wealthy people. That is all part of it but it isn't the whole picture. It is far more than that and frankly it is and should be for everyone who makes a living and looking for a clear road map to a brighter financial future for themselves, their families and future generations. The problem is people tend to think it isn't for them or , they don't make enough money. Well we aim to simplify financial planning. This week we sit down with a long time volunteer for the SDFLC, a Certified Financial Planner, Paul Lim of The Wealth Consulting Group.
Paul graduated from Johns Hopkins University with a bachelor’s degree in economics and has been recognized throughout his career for both his professional achievements and outstanding community service in the greater San Diego area. His dedication to achieving both personal and professional excellence began early on as evidenced by his being named a “30 Under 30 – San Diego County Leader” by Patch San Diego.
Enjoy!
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Money... Finances... are so incredibly mental and emotional. Yet we all tend to learn about these on our own and figure everything will work out. Why shouldn't we get help with it? Not just setting ourselves up for retirement but with the emotional side of it? According to the Financial Therapy Association, financial therapy is a process informed by both therapeutic and financial competencies that helps people think, feel and behave differently with money to improve overall well-being through evidence-based practices and interventions.
On this podcast, we spend time talking about decision making regarding money and finances. Why is it that we make the decisions we make? Why does buying something off Amazon make me feel better? Why am I afraid to buy anything? Have you ever wondered how money makes you feel and what money means to you? Well, we get down deep into those questions and more with Nathan Astle. Nate is family therapist at Kansas State University where he is also attending graduate school. He is also a board member at the Financial Therapy Association.
https://www.financialtherapyassociation.org/
https://www.linkedin.com/in/nathanastle/
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Shawn D. Rochester is the CEO of Good Steward LLC (GSL) and the founder of PHD Enterprises, and the IDEA Institute. Shawn grew up between the New York area (Brooklyn and Queens) and Barbados. He then attended the University of Rochester and ultimately with a degree in chemical engineering and a Master’s degree in Business Administration from The University of Chicago Booth School of Business with a focus in Accounting, Finance and Entrepreneurship. He is the acclaimed author of The Black Tax (which is the financial cost of conscious and unconscious anti-black discrimination), creates a massive financial burden on Black American households that dramatically reduces their ability to leave a substantial legacy for future generations. Please enjoy this great discussion with Mr. Shawn Rochester.
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Taking the first steps to start investing is intimidating for most of us. We think investing is for the experts - and how do you know what expert is the right one for you? We couldn't possibly do it ourselves, right? But who has more interest in your financial future than you? You may also think that you need to be good at math to invest, but that just isn't true. In this episode, the Talk Wealth To Me crew sits down with the Invest Diva herself, Kiana Danial. This fascinating, Iran-born woman takes us on her journey of heading to Japan to study electrical engineering during the time of the 2008 recession. This period turned out to be an incredible learning experience that changed her professional course. Kiana headed to the Big Apple to work in the world of finance which turned out to be nothing like what she expected.
The founder of Invest Diva discusses how she began and how her passion for teaching has led her to great heights by lifting up individuals, especially women, to be successful at investing and creating wealth in ways they never imagined they could.
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Personal finance is like a language. Each country or culture has its own way of managing, saving, spending, and investing money. While there may be similarities across international borders the fact of the matter is there are numerous aspects of the financial system that are individual to each country.
For immigrants, particularly those who have just arrived in the United States, our financial system might be the most confusing aspect of their new country. It's not just the finances related to the citizenship application, it's also figuring out the banking system, how Americans use credit cards and credit, finding a job, finding a home, paying taxes, and more.
Joining us on the show is Paulina Reyes, a San Diego-based immigration attorney. Paulina shares her own experience immigrating to the U.S. from Mexico as a child with her parents and sisters, how immigrant communities work together to support one another, and more!
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You've likely heard the terms before:
- wills
- trusts
- simple trust
- complex trust
- generational wealth
But do you really understand what they mean or how these tools can help you and your loved ones financially?
Joining us on the show to help navigate the differences between wills, trusts, and how generational wealth can benefit your family is Dr. Gail Hamilton, owner, and principal of BeeConnectedLife.com, a service that helps private businesses and families establish trusts & foundations.
A will is a legal document that spells out your wishes regarding the care of your children, as well as the distribution of your assets after your death.
A trustis another method of estate transfer—a fiduciary relationship in which you give another party authority to handle your assets for the benefit of a third party, your beneficiaries.
- A trust can be created for a variety of functions, and there are many types of trusts.
The difference between a will and a trust is when they kick into action.
- A will lays out your wishes for after you die.
- A living revocable trust becomes effective immediately.
- While you are alive you can be in full charge of your trust.
- And when you become incapacitated or die, the person you appoint as the successor trustee can easily step in and handle your affairs exactly as you have laid out in the document.
About Dr. Gail HamiltonFor more information on Dr. Gail Hamilton or her work establishing trusts and foundations for families and private businesses, visit BeeConnectedLife.com.
To purchase Dr. Hamilton's book, Wisdom From Queens: Vol. 3, visit DocGail.com.
Questions for the show?
Email us at TalkWealthPodcast[@] gmail [dot]com
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To wrap up Season Two, the Talk Wealth To Me team "replies all" to questions we've received during Season Two from our listeners.
From COVID-19 budgeting tips to payday loans, you have questions and we have answers.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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It's no secret that the coronavirus has prompted many consumers to rethink our homes and their purpose. During the stay-at-home orders, many of us saw our home transform into something far more than just for eating and sleeping: our home become our new office, the gym, the movie theater, church, the playground, and more.
Some forever-renters have since departed their beloved urban apartments in favor of single-family homes with outdoor space for kids and pets to run around. Others are just looking for more space now that we're working, playing, sleeping, and eating within the walls of our homes. Consumers concerned about the value of their homes are putting their homes on the market too, fearful their home values will plummet in the COVID economy.
Despite record unemployment and no end in sight to the stay-at-home orders, homes are selling at record highs throughout the U.S. Some homes are selling so quickly in fact that sellers have increasingly grown nervous they won't find a new home before they're expected to leave their current property.
Joining us on the show is Daniel Lehman, Owner and Team Lead of The Lehman Group. Daniel joins the Talk Wealth To Me crew for a discussion on how to decide whether buying a home right now is a smart money move for your family's finances and more!
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Have you ever wondered why you have the relationship you do with money? For years financial professionals have known our childhood experiences with money shape our perception of money and our ability to save, spend, invest, and donate. But many of us were unaware of our money stories not just from our own life experiences, we were unaware of the experiences our parents, grandparents and other ancestors had with money.
As it turns out, experiences with money, particularly those of a traumatic variety, can shape our perception of money and our ability to successfully use it as a tool for generations. Joining us on the show is financial educator and financial wellness expert Eugenié George, who recently self-published a book, "Our Money Stories," in June 2020 exploring this very topic.
About Eugenié GeorgeFor the past two years, I have gathered uncomfortable data and created an unorthodox way of viewing money patterns, interviewing, Women of Color, and Financial Advisors. I used Financial Wellness as the vehicle because there was a blue ocean to examine how ancestry, behavior economics, and habits can dramatically impact our views around money. So during my time as an MBA student, I decided to try my hand at writing non-fiction. I had a budget of $2,000 and I set out to self-publish a book. Finding interviews, academic data, and scheduling time on a shoestring budget was tough, but it’s something I’m proud of. The result was my debut, Our Money Stories, which has just been released. During a pandemic and our national response to critical conversations around race and equity. topic.
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Following the murder of George Floyd by the Minneapolis Police Department in May 2020, national attention has turned to systemic racism within the United States, specifically for Black people.
Some may wonder what racism has to do with finances, but the answer is everything.
Systemic racism is still rooted in all aspects of our society today, and progress is still needed for Black Americans to have true equality.
Take employment for example:
- Studies show that companies are more likely to call back a candidate who has a name that's more commonly associated with White people.
- Black Americans are more likely to be unemployed or have low-paying jobs compared to White Americans. That's in part due to education disparities. But studies show Black workers earn less than White workers even when they have the same education.
- There's also the racial wage gap: the Economic Policy Institute says that in 2017, Black men made about 70 cents for every $1 their White counterpart made.
- The gap is especially large when it comes to Black women, who make 62 cents for every $1 a White man makes, according to the National Women's Law Center.
This is just one example. Systemic racism has impacted housing, education, wealth, health care, criminal justice, policing, and voting. There's no simple fix to reversing centuries of discrimination. But understanding how pervasive it is, is step one.
George Floyd's murder may not have ever occurred if systemic racism didn't also affect finances. As Katie mentions during the show, the Minneapolis police were originally called because a counterfeit $20 had been used, and as the owner of Cup Foods has told numerous news outlets, he was not sure George Floyd knew the money was fake and that law enforcement normally would stop by the supermarket and pick up the counterfeit currency.
Regardless of whether George Floyd knew the money was counterfeit, it should have never been a death sentence. As Mark McCoy, a 44-year-old white archaeology professor at Southern Methodist University wrote:
“George Floyd and I were both arrested for allegedly spending a counterfeit $20 bill. For George Floyd, a man my age, with two kids, it was a death sentence. For me, it is a story I sometimes tell at parties. That, my friends, is White privilege.”
Joining us on the show to delve deeper into the very-large topic of Racism + Finances is Michelle Jackson, host of the "Michelle is Money Hungry" podcast and author of a blog and website of the same name.
IncomeWhite: $71,000
Black: $41,000
Median Net WorthWhite: $171,000 (10x higher than the average Black person's net worth)
Black: $17,600
PovertyWhite: 8.1%
Black: 20.8%
UnemploymentWhite: 14.2%
Black: 16.7%
No Access to Health CareWhite: 5.4%
Black: 9.7%
COVID-19 DeathsBlack people represent 13% population
Black people represent 23% COVID-19 deaths
About Michelle Jackson
Michelle accrued more than $60,000 in unsecured debt and paid off that debt while supporting her mom financially while working as a Starbuck's barista. Michelle shares her struggles and triumphs, as well as those of other personal finance bloggers, on her podcast and blog, Michelle is Money Hungry. She also created a financial retreat for financially single women Money on the Mountain.
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We may forget we’re not born inherently knowing how to earn, spend, save, or give money. And may not even know how to even go about beginning to have these conversations with our kids.
Many parents expect their kids will learn how to properly manage their money at school. But the reality is most kids are not learning how to spend, save, invest, or donate their money at all let alone in a healthy way.
This is concerning given that a report by researchers at the University of Cambridge commissioned by the United Kingdom’s Money Advice Service revealed that kids’ money habits are formed by age 7. Age 7!
Additionally, a 2017 Parents, Kids, & Money Survey conducted by T. Rowe Price found that parents who discussed financial topics with their kids were more likely (61% vs 41%) to have kids who say they are smart about money.
Joining us on the show is Bill Dwight, CEO and founder of FamZoo, a private family banking system designed to help parents teach kids to earn, save, spend, and donate money wisely in a safe, friendly environment.
Bill joins us to share how parents can use a variety of tools to not only educate their children when it comes to money habits, he shares how parents can use technology to not only expose your children to real-life experience with money but to spark those crucial money conversations.
About FamZooFamZoo isn’t just a convenient prepaid card for families. It’s a hands-on financial education for kids of all ages — preschool through college. Learn more here.
About The ShowTo learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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Child abuse. Warfare. Assault. A devastating accident. If you have endured one or more life-threatening events, you may be more likely to make destructive money decisions.
Researchers discovered that post-traumatic stress alters the way a person thinks and reacts to situations, including financial behavior. In other words: “Traumatic experiences cause our brain to overreact. They force us into a stress mode where we are compelled to take action as a protective measure."
One of the most common ways our financial stress manifests is in the form of oppressive credit card debt.
Having overcome homelessness, domestic violence, health issues including paralysis and extreme pain, Kylie Travers knows firsthand how difficult life can be and joins us to share exactly how she changed her mental mindset and improved her financial situation several times over the years.
About Kylie Travers
Kylie Travers is based in Melbourne, Australia with her two young daughters. She went from homeless single mother to multiple international award-winning CEO, author, speaker, and ambassador in the space of a few years.
Connect with Kylie on her website The Thrifty Issue. Or on Facebook, Twitter, or Instagram.
About The ShowTo learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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Life is slowly starting to go back to a new state of normal, but many of us are still under strict social distancing orders and are required to wear face masks.
While many of us felt our lives were turned upside down when the coronavirus pandemic shutdowns first began to happen, now that we're three-months or so into the stay-at-home orders, have you begun adjusting to working, eating, playing, and living from your home?
Have you noticed any changes in your budget?
- Are your groceries costing you more?
- Have you been ordering take-out more frequently?
- Are you buying items you normally wouldn't purchase?
- Has your clothing budget gotten out of control with loungewear and yoga pants?
- Are you saving more money?
We chat about all this and more in our Quarantine Update #2.
About The ShowTo learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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Are you planning on adopting a dog or puppy? What exactly does it take to be a successful puppy parent ie how much exactly is this going to cost me each year? Month? Week?
Maybe you already have a pet and are not entirely sure how much money you're spending on your four-legged friend each month? Or are recently struggling to afford dog food or medical bills during the coronavirus stay-at-home orders.
Joshua Prater is the Medical Director and co-founder of Baja Dog Rescue. He joins us to share how to realistically set a budget for your puppy, the benefits of health insurance for dogs, budget-friendly meals you can buy or make-at-home, and more!
Donations for Baja Dog Rescue:
•PayPal – info@bajadogrescue.org
•Donate Button at the top of our page orFacebook.com/Bajadogrescue.org or at the bottom of this post.
•Online –Baja Dog Rescue
•Venmo –@bajadogrescue.org
•Zelle – info@bajadogrescue.org
•Mail – Baja Dog Rescue P.O. Box 437920, San Ysidro, California 92173
About Baja Dog Rescue
Baja Dog Rescue is a 501c(3) non-profit organization that is run by a group of dedicated volunteers that rescue and rehabilitate unwanted, abandoned and neglected dogs and find them loving happy homes. We are a No-Kill animal rescue and we literally give them a second chance at life. Each one of our dogs is socialized, spay/neutered, vaccinated, and treated for any medical or behavioral conditions.
About The ShowTo learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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Were you planning a wedding this spring or summer that was affected by the mandatory coronavirus stay-at-home orders?
Maybe you were planning on attending a wedding this year but are now unsure of the Bride and Groom's plans?
Or maybe you're not sure what the happy couple plans to do yet, but want to continue with your plans to shower your loved one with a party in their honor but don't exactly know how to go about doing just that?
The Budget Savvy Bride's Jessica Bishop joins us to talk about how the coronavirus has impacted the wedding industry and shares budget-friendly tips if you want to move forward with your big day.
About The Budget Savvy Bride's Jessica BishopJessica Bishop is the creator of The Budget Savvy Bride, the #1 online resource to help couples plan a beautiful wedding on a budget they can actually afford. By sharing practical tips, personal advice, doable DIY projects, and approachable inspiration, The Budget Savvy Bride educates, equips, and empowers couples to plan a wedding they are proud of and that truly represents their values. Jessica has been nationally recognized as a Budget Wedding Expert and has shared her money-saving tips and tricks with outlets such as BRIDES, About.com, Glamour, Cosmopolitan, Huffington Post, and more. Jessica's first book, The Budget-Savvy Wedding Planner & Organizer is available on Amazon.
About The Show
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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For about two months now, the Talk Wealth To Me team has been working remotely as part of the global effort to lessen the transmission of the highly-contagious coronavirus.
With stay-at-home orders still in effect for most of the U.S., many Americans continue to find ways to entertain themselves from within the confines of their home. Others of us are working remotely from home while simultaneously trying to ensure our kids are learning and meeting virtually with their teacher at the correct time. With this increased reliance on internet and electricity, some of us may have been a little surprised to see just how much some of our bills increased recently.
Thankfully, there is help:
- Federal Communications Commission’s “Keep Americans Connected Pledge.” For the next 60 days, these companies promise not to terminate service and will waive late fees caused by the coronavirus pandemic. They are also opening their Wi-Fi hotspots to any Americans who need them.
- Some state and city regulators across the U.S. have started directing utility companies (gas, water, and electric) to suspend shutoffs for customers struggling to pay their bills. Contact your utility company and negotiate relief before your bill is due if you’re experiencing hardship as a result of COVID-19.
What other financial relief options are available to those with a mortgage? Student loans? And what about protections for your credit report?
We'll chat about this and check-in with Felipe, Chase, and Katie to see how it's going for our team at home.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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COVID-19 has dominated the headlines for months now. As we all adapt to our new "normal," many of us may be feeling a little extra stress recently, especially when it comes to our finances.
Marriage and Family Therapist Ed Coambs, MA, MBA, LMFTA, CSAT-C, CFP, who also specializes in financial therapy, joins us to discuss how the Coronavirus has created financial stress for us, where this stress is coming from, health steps we can take to reduce the impact of this financial stress, and more!
Want to learn more about Ed Coambs? Visit his practice website or check out this blog on financial infidelity from DebtWave Credit Counseling.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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As of March 26, 2020, the U.S. Senate has passed legislation that would include a one-time payment of $1,200 to Americans earning less than $75,000. Income levels will be calculated based on 2019 tax filings. If you have not yet filed your taxes, your stimulus check will be dependent on your 2018 tax filing.
Larry Campbell, a CPA at the San Diego-based Lavine, Lofgren, Morris & Engelberg, LLP, joins the Talk Wealth To Me crew for an explanation on the stimulus checks set to go out to American consumers.
How Much Money Should I Expect?
- Americans who earn less than $99,000 but more than $75,000 will be given a smaller one-time payment.
- Individuals earning $99,000 or more will not be given a one-time payment.
- Married couples filing jointly who earn a combined $150,000 or less will be given a $2,400 one-time payment.
- Individuals and couples with children could qualify to receive additional financial assistance.
Some Important Notes & Links:
*To check the status of your stimulus check, please visit the new Get My Payment website from the IRS. You can access that page here. Please note that the website is experiencing a high volume of traffic, please refresh the page or wait a few minutes and check back.
*If you do not file taxes, there’s a direct deposit portal now available for you to input your information so you can receive a stimulus check sooner than later. You can access the portal here.
*As of April 2, the IRS reported that Social Security recipients no longer need to file 2018 or 2019 tax returns in order to receive their COVID-19 stimulus checks.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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In a matter of weeks, the coronavirus oftentimes referred to as COVID-19, has dramatically changed life as we know it around the world. Large hotel chains and restaurants have laid off or furloughed hundreds of thousands of employees. For many small business owners, adjusting to "stay-at-home" mandates has dramatically hurt business and some fear they may never recover.
There is good news however. The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion in forgivable loans to help small businesses stay afloat during the COVID-19 crisis.
Larry Campbell, a CPA at the San Diego-based Lavine, Lofgren, Morris & Engelberg, LLP, joins the Talk Wealth To Me crew for an explanation on what exactly the PPP program is, who benefits from it, the conditions on the loans, and more.
WHO QUALIFIES?
- Small businesses with 500 or fewer employees can apply for loans through the Paycheck Protection Program (PPP).
- Small businesses in the hotel and food-service industries, including franchises, may qualify even if they have more than 500 employees.
- One loan is granted per business. A taxpayer identification number is required.
HOW MUCH CAN I GET FROM THE PPP?
- The maximum loan amount is $10 million under the PPP.
- The amount of money a small business will be eligible for is dependent on how long they remained operable between February 15 – June 30, 2020, and how much they spend on payroll.
- The maximum loan amount will be 250% of the average monthly payroll costs during that period.
- Businesses that were not open or out of business after February 15 will receive a maximum loan amount 2.5 times their average monthly payroll expenses for both January and February.
WHAT ELSE SHOULD I KNOW ABOUT THE PPP?
- All loans have a 1% fixed interest rate
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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Chase and his family recently purchased a new truck. Despite all of the research Chase put into his new truck, he ran into some difficulties just a few days after buying his new truck. Namely, a sound so jarring, he wasn't comfortable letting his kids ride in the car farther than two blocks.
In this episode, The Talk Wealth To Me group talks about why it's important to research purchases before making them and how that research time could give you some ideas to make your money go further.
So what exactly happened to Chase's new ride? You'll have to listen to the episode to find out!
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As coronavirus aka COVID-19 spreads around the globe, many individuals, families, and businesses are struggling to figure out our new world in all the chaos.
Many of us are likely experiencing financial stress. What exactly is financial stress? It's the gap between the unknown and reality smacking us in the face.
While there are many uncertainties remaining, there are steps we can take to lessen the stress of the current unknowns.
Regardless of your current employment situation, review the following three scenarios for your family’s financial situation to determine your financial fuel. Financial fuel is the amount of money you have leftover after paying your expenses/spending.
Make a list of your expenses and consider the following impact to your budget based on the following changes to your pay.
- No change in income
- 30% pay cut
- Furlough/layoffs
For example, if you and your partner took home $3,500 per month in income, but your expenses were also $3,500, this is what your pay changes may look like based on the three scenarios:
- No Change in Income - $0
- 30% pay cut (-$6,300 loss after 6 months)
- Furlough/Layoffs (-$21,000 loss after 6 months)
Keep in mind for every 1 bad month we have financially it takes about 3 months of financial recovery time.
If you have lost your job, are worried your position or industry is not stable, or if you do not have an emergency fund, there are steps you can take to fill the gap.
4 Ways to Fill Gap
- Side Hustle/ Cut Expenses (Want to increase financial fuel by 10-20% if possible)
- Unemployment (varies by state)
- Government checks (dependent on income & government legislation)
- Steady App (App Store - shows by zip code various side hustles)
- Cash in rewards points (credit cards, bill credit, gift cards)
- Sell talent or stuff
- Fiverr
- Upwork
- Cut expenses: Review housing payments, student loan payments, retirement contributions, entertainment/eating out budget
- Assess savings
- Emergency fund / Savings
- Checking
- Savings
- Vacation Fund
- Down Payment Fund
- Brokerage Account (Acorn, Charles Schwab, TDA)
- Retirement
- Prioritize Payments (buy yourself time)
- Make a list of:
- Required bills
- Call and ask about COVID-19 policy for every bill.
- Ask about fees/interest
- What programs are available? How long?
- Call and ask about COVID-19 policy for every bill.
- Non-recourse deferments
- Recourse deferments
- Anything else (misc)
- Required bills
- Make a list of:
- Borrow Debt (lowest/safest)
- If you need to borrow, borrow from a safe lender first
- Payment deferred
- Home equity
- Credit union loans
- 401 k loans
- Credit card
- Avoid:
- Payday loans
- Predatory lending
- Pawnshops
- If you need to borrow, borrow from a safe lender first
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Do you struggle with an addiction?
Most of the time when we think about addiction, we think of addictions to hard drugs. But there are many "drugs" with addictive properties that are also legal.
For example:
- Alcohol – for example, wine, beer or liquor
- Amphetamine or similarly acting sympathomimetics – for example, speed or crystal meth
- Benzodiazepines – for example, Xanax, Valium or Klonopin
- Caffeine – for example, coffee, tea or sports drinks
- Cannabis – for example, marijuana, grass or hash
- Inhalants – for example, poppers or aerosols
- Nicotine – for example, cigarettes, cigars or nicotine patches
- Opioids – for example, heroin, morphine or painkillers
- Sedatives, hypnotics or anxiolytics – for example, sleeping pills or downers
But addiction can also be a behavior. The most common behavioral addictions include:
- Computer — for example, internet, video games, social networking sites, cybersex or online gambling
- Eating — for example, overeating, bingeing or purging
- Exercise — for example, weight loss or sports
- Gambling — for example, VLTs, casinos or slot machines
- Gaming — for example, computer games
- Sex — for example, porn, cybersex or multiple partners
- Shopping — for example, spending or stealing
- Work — for example, overwork, money or power
Most addictions have a serious impact on finances. In fact, financial problems are even cited as a possible symptom of addiction for substance dependence and compulsive gambling in the Diagnostic and Statistical Manual (DSM-IV) used to diagnose mental health problems.
So how do we manage our money when we're recovering from an addiction or helping someone else?
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18.7 million people in the United States are addicted to or dependent on alcohol. An estimated 3.6 million Americans are addicted to or dependent on a wide range of drugs. Many are addicted to more than one.
Millions more are functionally addicted to things we don't consider drugs, like tobacco, caffeine, and food, as well as to activities such as gambling, shopping, sex, and spending time on the Internet.
Addictions are at an all-time high in the U.S., and as a result, our life expectancy has been reduced.
Financial disaster is also common to all forms of addiction.
Why?
Because more and more money is needed to fund the habit, leaving bills, rent, and mortgages unpaid. Money may be “borrowed” or outright stolen. Credit cards are maxed out, savings accounts are depleted, and getting more of our vice becomes the primary role of our next paycheck.
Think about it: A cheap six-pack of beer can cost $5 while smoking a pack of cigarettes each day costs about $7. If you buy a 6-pack daily, that's about $150 per month or nearly $1,000 after six months! This is not sustainable for anyone.
For many addicts, their "rock bottom" comes when they're evicted, unable to pay rent or are fired from their job for stealing money or office supplies from work. Some lose their vehicles, while others resort to committing crimes or even becoming sex workers just to make ends meet.
On this episode, we'll explore:
- What are some of the ways addiction affects you and your loved ones financially in the short and long-term?
- Can you declare bankruptcy for debts you incurred in order to get your "fix"?
- What about cash? Is there a safer way to give money to someone in recovery?
- And most importantly we'll talk about steps you can take to recover your finances:
- Get back into the workforce
- Create a workable budget
- Open a savings account and add a small amount of money to it each week
- Begin to rebuild your credit score
About Catherine Seeber
Cathy Seeber is a vice president and financial advisor at CAPTRUST. She has worked in the industry since 1998 and her advice has been featured in a variety of national, local and industry media outlets, including the Wall Street Journal, New York Times, Financial Planning, Fox Business and MarketWatch; she is also a guest columnist for Financial Advisor.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
A study from the credit bureau Experian found that 62% of LGBTQ individuals experienced financial challenges because of their sexual orientation or gender identity.
Joining us on the show is David Rae, Certified Financial Planner™, Accredited Investment Fiduciary™, and President / Founder of DRM Wealth Management LLC. David joins us to provide some insight as to what kind of financial challenges members of the LGBTQ persons face compared to the general population, as well as tips on how to better your financial situation regardless of your sexual orientation or gender identity.
According to the 13th LGBTQ Community Survey from San Francisco-based Community Marketing:
- 73% of LGBTQ people eat dinner out at least once a week
- 69% buy wine while out or for use at home
- 77% pay for streaming TV subscriptions
- 52% regularly attend live theater or musicals
- 73% buy facial moisturizer
- 41% have paid for a clothing item worth more than $100 in the past year.
- 86% took at least one vacation or leisure trip in 2019
- one-third took four or more.
- Many LGBTQ community members have shared some excessive spending occurs because they are either hiding who they are or for the first time don't feel they have to hide who they are and want to belong to a community.
On top of the emotional stress, life can also be financially stressful because of job insecurity and the inability to pursue higher incomes.
- LGBTQ persons can be fired for being gay or transgender in more than half of the 50 states.
- Transgender people are more likely to have household incomes of $12,000 or less. In fact, according to the most recent U.S. Transgender survey, 29 percent of respondents are living in poverty, compared with just 12 percent of the general population.
Additionally, members of the LGBTQ Community face financial challenges such as:
- Pay Gap
- Gay Men earn about 69 cents on the dollar to their straight male peers
- Lesbian Women earn about 89 cents on the dollar to their straight female peers
- Higher Living Costs
- Areas traditionally more welcoming to LGBTQ persons come with higher price tags. For example, Manhattan and San Francisco are well known for being both LGBT-friendly and budget-unfriendly. Living costs in the respective areas are 195 percent and 118 percent above the national average, according to research firm Sperling's Best Places.
- States with the lowest living costs – West Virginia and Arkansas at 17 percent below the national average and Oklahoma at 16 percent below average – are also among the 20 states that do not have hate crime laws specifically protecting LGBT people.
- Retirement
- 7 in 10 LGBTQ Americans say they are behind on saving for retirement.
- AIDS Epidemic: Many gay men now in their 60s - 80s didn't save for their retirement or old age because they didn't expect to survive the AIDS epidemic.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
Cannabis - commonly referred to as pot, weed, reefer, and ganja - is increasingly becoming legal, not just in the United States, but around the world. Recreational cannabis is already legal in Uruguay and Canada, and in the U.S., more than 25 states have legalized cannabis in the form of recreational, medicinal, hemp, and/or CBD.
Given that cannabis legalization would not only be profitable in itself but has the potential to disrupt other established industries, it comes as no surprise there's been a rush in recent years for investors to get into the cannabis industry on the ground floor.
Grove Group Management CEO and Co-Founder of Kevin Shin joins the Talk Wealth To Me #podcast for a conversation on what it takes to invest in cannabis, what kind of changes we'll see in the cannabis industry when U.S. legalization occurs, and more!
About Kevin Shin
Kevin Shin is the Chief Executive Officer & Co-Founder of Grove Group Management. Kevin has over 17 years of experience in the finance industry serving as a financial consultant at AXA winning multiple sales awards. He also led ChungKing Recording Studios where Russell Simmons and John King worked to bring Rap music into households. Here he restructured the corporation and brought this historic studio - with a roster that included LL Cool J, Michael Jackson and Mariah Carey - back to profitability in three short months.
In 2004, Kevin founded an innovative corporation to house a venture capital company and a commodities trading desk. The venture capital company started at $20M in AUM in year one to $3.8bn in AUM with IRR consistently in the 20’s before his departure in 2017.
Kevin also joined NewOak Capital as a Senior Advisor in 2009 on a limited basis and as a Limited Partner. He has worked with clients like: Tongyang for restructuring their corporation during a financial crisis, Starwood Capital as a capital raiser and senior analyst for proposed deals, and taught Asia structure to multi-billion dollar hedge funds while working in Asia during his tenure at NewOak.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
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To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show
Support the show (https://www.sdflc.org/help-sdflc/donate/)
When Jeremiah and Joshua West went to New York City a few years ago with their parents, these two young entrepreneurs had no idea they were about to have a life-changing experience.
The young brothers, aged 8 and 6 years old at the time, observed a homeless man sitting on the street and decided to offer him some food. Inspired by the positive impact this little deed had on the homeless man's life, Jeremiah and Joshua wrote a book teaching other kids how to give, save, and spend their money wisely. Their idea was to become Champions of Change and motivate others to make a huge impact on the world around them by carrying out little deeds.
Their little sister Jordan was inspired as well and wrote her own book in which Jordan shares the true story of how she organizes and hosts a princess party for nearly 30 homeless and foster girls each year.
In this episode, the West family joins us on the show to share how their little deeds continue to make a huge impact. And how the rest of us can get involved.
About Champions of Change
Champions of Change was established by brothers Jeremiah and Joshua West, two young social entrepreneurs with a mission to empower youth of all ages and cultures to give back. By inspiring other kids to serve as “Change Agents,” the West brothers, along with their little sister Jordan, sought to make an immediate and lasting impact within their communities by soliciting donations, organizing food and clothing drives, and facilitating literacy workshops for less fortunate children.
You can purchase books mentioned during the show on the Champions of Change website or on Amazon here and here.
To connect with Champions of Change, email info@championsofchangeusa.org or call 585-563-4797.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
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Who taught you how to budget? How to pay taxes? Check your credit score and read a credit report? What about saving for retirement or paying yourself first before paying off any debts or pampering yourself?
If you're like most Americans, the answer is probably no one. If you're lucky, you may have had a parent, a relative or a friend who knew healthier personal finance habits existed and worked with you to implement some of those healthy behaviors. But for most of us, we don't know how to determine if something is a worthy investment, let alone handle the paperwork on our own.
In this episode, we're joined by San Diego Mesa College Business Professor Howard Eskew, who is not only advocating for increased financial literacy programs in higher education - he's walking the walk! Howard joins us to share how he managed to implement a financial literacy course at Mesa College and how he's seen his students thrive after learning how to better handle their money.
About Howard Eskew
Howard Eskew is a Business Professor at San Diego Mesa College. His expertise is in accounting, entrepreneurship, and personal finance. Howard has a strong passion for providing financial education. He drives the financial literacy efforts at Mesa College and created and coordinates the Financial Literacy Speaker Series and Financial Opportunity Clinic. Prior to coming to Mesa College, Howard spent over 25 years in the financial services industry.
He held the position of Executive Vice President / Chief Credit Officer for Columbus First Bank, in Worthington, Ohio for which he was one of the founding members. Howard is a strong partner and tireless advocate for the community. In addition to servicing on the Mesa College Foundation Board, Howard services on advisory boards for San Diego County Economic Education, San Diego Financial Literacy Center, San Diego Workforce Partnership, and the Western Association of Food Chains.
Howard possesses his MBA and a Master’s degree in Accounting. He has been inducted into numerous honor societies and graduated Magna Cum Laude and valedictorian. Howard frequently presents at educational and industry conferences and is a published author. In 2015, Howard received the Outstanding Professor Award at San Diego Mesa College.
To connect with Howard directly, you can email him at HEskew@sdccd.edu or call him at 619-388-5957. To donate to San Diego Mesa College Foundation, click here.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show
Support the show (https://www.sdflc.org/help-sdflc/donate/)
Have you had the "talk" with your parents? No, we're not talking about a reverse 'birds and the bees' conversation - we're talking about finances.
Here's why: A survey from Fidelity Investments found:
- 69 percent of parents expect one of their children will manage their finances in retirement, but more than one-third of children who are expected to fill this role didn't know this.
- 72 percent of parents expect one of their children to be their caregiver if necessary, but 40 percent of children identified as filling this role didn't know this.
- 92 percent of parents expect one of their children to be the executor of their estate when they die, but more than a quarter of kids who are expected to fill this role didn't know this.
Joining us on the show is financial journalist Cameron Huddleston, who recently authored a book on this very topic: Mom and Dad, We Need to Talk: How to Have Essential Conversations with Your Parents About Their Finances.Cameron joins us on the show to not only educate the Talk Wealth To Me crew on why it's important to have conversations with your aging parents ASAP on whether they expect you to play an active role in their financial lives or help care for them. Cameron also shares tips on how to bring up this conversation with your siblings and your parents, as well as why it's better to have this conversation with your parents while you can, instead of waiting until it's too late.
About Cameron Huddleston
Cameron Huddleston is an award-winning journalist with more than 17 years of experience writing about personal finance and the author of Mom and Dad, We Need to Talk: How to Have Essential Conversations with Your Parents About Their Finances.
To learn more about Cameron, visit her website or connect with her on Twitter.
To access resources Cameron mentions during the show, please visit her website here.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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Women endure a slew of disadvantages when it comes to financial security. Though it’s cheekily referred to as the “pink tax”, the additional cost women incur for personal-care products, toys, clothing, dry cleaning, health care, mortgages, and vehicle maintenance is no joking matter. It inflates our budgets, limits our ability to save, and sometimes hinders our ability to access affordable and safe sources of credit.
Based on that semi-intense description of the pink tax, you may think it’s already been made illegal to charge someone more on the basis of their gender. But that’s not true. There’s no federal law prohibiting companies from charging different prices for products that are identical (or very similar), but which are marketed by gender. At least not currently.
Only one U.S. municipality — Miami-Dade County — has banned this practice. California enacted a similar restriction in 1995, but it applies only to the pricing of services. New York City followed in 1998.
On top of the pink tax, women still earn less than their male counterparts. The average woman is paid 82 cents for every $1 her male colleagues earn; the discrepancy is much worse for women of color.
When you’re paying more for basic goods and services from birth until death — just because you’re female — it’s easy to understand why so many women are pushing to “Ax the Pink Tax.”
About Michael Cone, Esq.Michael Cone, Esq. is a Partner at FisherBroyles, LLP. He is a Customs, International Trade, and Regulatory Compliance Attorney, with more than 20 years of experience in federal regulatory compliance, customs, and international trade law and has been featured in print and broadcast media including the New York Times, NPR, CNN Money, and CBS News.
In 2007, the New York Times featured Mr. Cone's lawsuit challenging gender-based customs duties on its front page.
On March 8, 2016, Mr. Cone launched his website Pink.Tax, which coincided with International Women’s Day. The goal of Pink.Tax is to raise grassroots awareness of how women are disadvantaged by gender-based price discrimination affecting retail consumer goods and services like razors and haircuts, and to fight against this global phenomenon called the "Pink Tax". Its broader secondary goal is to identify, raise awareness about, and fight other gender-based financial discrimination against women (such as lower pay for equal work, known as the "Gender Pay Gap").
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
Your credit report has information about your finances and your bill-paying history, so it’s important to make sure it’s accurate. The good news for consumers is that credit reports are free through annualcreditreport.com, and if you find an error, you can work with the credit reporting company to fix it. If you would rather not handle correcting credit report errors on your own, you can always enlist the help of a credit repair servicer.
In this episode, Chase and Felipe sit down with Jory McEachern, financial services and credit repair expert, to discuss the truths and myths of consumer credit and credit repair.
Specifically, Jory sheds some insight for us on what exactly credit repair organizations do to help consumers improve their credit score, as well as steps you should be taking at home to better your credit score.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
Since 2014, the San Diego Financial Literacy Center has awarded more than $75,000 to more than 25 U.S. servicemembers and their families as part of the SDFLC's Boost for Our Heroes program.
For those who may be unfamiliar with the SDFLC, Boost for Our Heroes is a financial assistance and education program that benefits active, transitioning, and veteran military members and their families. The program provides a variety of workshops, outreach efforts, and one-on-one consultations to help men and women who are experiencing financial hardships become financially stable.
Joining us on the show is Al Lejarde, a past recipient of the SDFLC's Boost for Our Heroes award. Al joins us to share how he learned about the financial award, his motivation to apply, and how his family's life has changed since winning the award. Al also shares ways he's helping his fellow service members through his work with nonprofit organizations including Habitat for Humanity, Courage to Call, and Easter Seals.
Boost for Our HeroesTo learn more about the Boost for Our Heroes award visit the SDFLC's Boost for Our Heroes page.
Click here for the Boost for Our Heroes online application.
For more information on the Boost for Our Heroes Golf Classic, please visit this website.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
To wrap up Season One, the Talk Wealth To Me podcast team "replies all" to questions we've received during Season One from our listeners.
From paying off credit card debt to saving money on groceries to building credit, you've got questions, and we've got some answers.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
While it’s true that numbers and math don’t care about your gender, numbers and math are hardly the driving force behind personal finances. Instead, outside cultural influences often affect our financial situations more than we’d like to admit.
In this episode, Chase and Katie sit down with Brynne Conroy for a discussion on the poverty cycle, the cultural influences that affect an individual's earning potential, as well as their ability to save, and the importance of breaking stigmas around social programs.
About Brynne
Brynne Conroy is the owner, creator and content director of the Femme Frugality blog. In October 2018, Conroy published The Feminist Financial Handbook, which quickly went on to become a #1 Amazon new release.
In The Feminist Financial Handbook, Conroy takes a deep dive into how discrimination and oppression affect an individual or family's personal finance and the steps people can take to overcome the hurdles in front of them.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
1 in 4 women is known to be a victim of domestic violence. Men are affected too, we just have fewer stats on the rate they endure abuse.
A study by the Centers for Financial Security found that 99% of domestic violence cases also involved financial abuse. What's more, financial abuse is often the first sign of dating violence and domestic abuse.
Financial abuse involves controlling a victim's ability to acquire, use, and maintain financial resources. Those who are victimized financially may be prevented from working. They also may have their own money restricted or stolen by the abuser. And rarely do they have complete access to money and other resources. When they do have money, they often have to account for every penny they spend.
Financial abuse may begin subtly and progress over time. It may even look like love initially as abusers have the capacity to appear very charming and are masterful at manipulation. For example, the abuser may make statements such as, “I know you’re under a lot of stress right now so why don’t you just let me take care of the finances and I’ll give you money each week to take care of what you need.”
This scenario commonly leads to the abuser giving the victim, less and less in “allowance” and by the time the victim decides she or he wants to take back control of the finances, she or he discovers that the accounts have all been moved or she or he no longer has knowledge or access to the family funds.
The short- and long-term effects of financial abuse can be devastating. In the short-term, access to assets is imperative to staying safe. Without assets, survivors are often unable to obtain safe and affordable housing or the funds to provide for themselves or their children. With realistic fears of homelessness, it is little wonder that survivors sometimes return to an abusive partner.
For those who manage to escape the abuse and survive initially, they often face overwhelming odds in obtaining long-term security and safety. Ruined credit scores, sporadic employment histories, and legal issues caused by the abuse make it extremely difficult to gain independence, safety, and long-term security.
Resources:
The National Domestic Violence HotlineAdvocates are available 24/7 at 1-800-799-SAFE (7233) in more than 200 languages, TTY 1-800-787-3224. All calls are free and confidential.
Aunt Bertha
Purple Purse Allstate Foundation
About Rebecca NealeRebecca G. Neale has years of experience advocating for clients in the courtroom and the conference room and enjoys helping people navigate some of the most difficult chapters of their lives.
She has represented and advised over 300 clients in divorce cases, housing proceedings, Social Security appeals, and more. Rebecca has represented homeowners in nationwide class-action lawsuits against banks and small businesses in contract disputes and clerked for the highest state courts in New York and California.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
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One word that pops up frequently when talking about finances or a budget is "plan." A seemingly simple word, but in reality, it's our "plan" for our money that really makes a difference in our wallets.
What does a financial plan look like?
It's different for every person/family/couple. But some common examples include buying a home. Most of us can't afford to wake up in the morning and purchase our dream home later that same day. For a majority of us, we need time to save up money for a down-payment.
So what do we do?
We come up with a plan to buy a home. We determine how much we can afford, we research neighborhoods, school districts, our commutes, etc. Similar plans are made when adopting a pet, having a child, getting married, buying a car, and even going on a vacation.
When we don't have a plan or a goal we're working toward, we're not always mindful of where we're spending our money. And sometimes that can get us into trouble.
In this episode, Chase, Felipe, and Katie chat about why we need financial planning, how a plan helps you stay out of debt, and how to get started.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
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Financial issues rank among the most stressful concerns for active-duty service members, vets, and their families, according to a survey by Blue Star Families, a nonprofit out of Syracuse University. In fact, financial concerns rank as the second-highest overall concern, second to relocation anxiety.
While the military does offer service members access to supplemental courses that teach personal finance, the fact is most military members don't know how to manage their finances while in the military. And even more service members struggle to manage their finances when they inevitably leave the military - especially females, who oftentimes are tasked with managing the household finances.
The financial issues are sometimes even more exaggerated for female service members, who are more likely to be single parents than their male counterparts. And given that there are currently 2 million female military veterans in the U.S. and Puerto Rico, female service members struggle with money is becoming an increasingly important issue - especially since the U.S. Department of Veterans Affairs expects 18 percent of the military vet population will be female by 2040.
Joining us on the show to discuss this very important topic is Dr. Ann James, founder of Financial Freedom Battle Buddies. Dr. Ann shares how service members become accustomed to getting allowances for housing, food, medical, and clothing, that they oftentimes don't plan for life outside the military, and shares how she's working to change that financial dependence to allow more and more female service members and vets to experience financial freedom.
As Dr. Ann says, it doesn't matter if you're an E-1, O-6 or civilian, financial freedom can be yours.
About Dr. Ann
Dr. Antoinette (Ann) James founded Financial Freedom Battle Buddies to help her fellow female veterans take back control and win the fight over their money. Early in her military career, Dr. Ann was exposed to valuable personal finance lessons which allowed her to overcome numerous money pitfalls after becoming a single mother.
An Iraq War Veteran, Dr. Ann managed multi-million dollar operating budgets while serving as a Financial Officer. In 2011, after serving 21 years, Dr. Ann retired from the Air Force and successfully transitioned to civilian life. As a proclaimed life learner, she returned to school and earned her Doctorate of Education from Grand Canyon University in 2017. In order to further expand her ability to provide sound financial guidance and education, in 2019 she earned the distinguished gold standard of becoming an Accredited Financial Counselor.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
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To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
For decades, owning a vehicle was synonymous with freedom.
Having a car meant not having to be at the mercy of a bus or train schedule; it meant you could live and work in a different neighborhood from where you worked or went to school. Vehicles even became a place of refuge – a place to sing out loud or rest your eyes.
But cars are ridiculously expensive – and as rideshare companies like Uber and Lyft gain consumer trust and extend their services to every neighborhood in the U.S., more and more Americans are questioning the need to own a car.
When you can find a ride to your destination in a matter of minutes with just the swipe of your finger, does it make financial sense to continue to make $500-plus payments, possibly for the rest of your life?
San Diego-resident and friend of the show, Dan Hubbard, joins us to share how he lives without a car in Southern California. Dan even shares how he commutes daily to an office job via public transportation.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
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Building wealth is a tricky business, especially for those whose faith teaches them that money is intrinsically evil, financial planning is only for the wealthy, and that you're stuck FOR-EV-ER with consequences of past financial mistakes.
Deborah L. Meyer, CPA/PFS, CFP®, is the author of Redefining Family Wealth: A Parent’s Guide to Purposeful Living. Deb joins Talk Wealth To Me to share how wealth is about so much more than money - it's also about providing for your family and others in meaningful ways, why faith and finance don't have to be separate, as well as how the power of prayer works hand-in-hand at viewing your finances from an abundance mindset.
About Deb Meyer:
Deborah owns WorthyNest®, a fee-only financial planning and investment advisory firm that helps parents build wealth, and SV CPA Services, an accounting and tax firm for forward-thinking entrepreneurs.
Deborah has been featured in The Wall Street Journal, Forbes, and CNN Business and is a contributor to Kiplinger. She is a 2019 CPA Practice Advisor “40 Under 40 Honoree” in Accounting and received the 2018 AICPA Standing Ovation Award. Outside of work, Deborah spends time with her husband Bryan and three sons.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
Have you talked to your children about money?
The sad truth is that kids as young as two years of age are enticed to want this, want that – it’s the wily little “Want Monsta” and he is really good at making us want more than we need or can afford.
It’s hard to teach children real-life skills about spending and saving…but it will be harder later if they don’t learn! After all, money does NOT grow on trees…
There are several different strategies parents can use to educate their children about personal finance - how to budget, how to save, how to consider the cost of tax, etc. But what about the theatre? Have you ever considered taking your children to a puppet show, where they can learn about personal finance while belly laughing?
Debbie Todd is the co-founder of Ruby’s Troupe, an innovative interactive live and online theatre education group. A licensed CPA and certified financial education instructor with over 36,000 hours dedicated to “smart money” activities, Debbie is a spunky Grandma who is passionate about helping children defeat the Want Monsta and become Smart Money Commanders.
Debbie joins us on the show to share how Ruby's Troupe is creating a whole new generation of personal finance savvy youngsters, as well as why we should educate our children about money sooner than later.
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
When's the last time you went on vacation? Has it been too long to even remember?!
We get it - traveling is hard for a multitude of reasons. The biggest: The expense.
The average vacation costs about $1,145 per person. And when you're on a tighter budget, perhaps you're paying off credit card debt or student loans, or maybe you're working hard to build up your 401(k) and emergency savings accounts, it can seem like travel is no longer within your financial reach.
Joining us on the show is Sunny Burns, founder of FamVestor.com. Sunny shares how he used credit card hacks to travel:
- roundtrip to Japan with his wife for $30
- on a 5-day cruise from Puerto Rico to New Jersey for $250 per person
- As well as a three-week backpacking trip through five different European nations with a six-month-old for less than $2,400!
So what exactly is credit card hacking?
Credit card hacking is utilizing credit cards and especially credit cards with high bonuses to gain lots of miles very quickly and then using those miles to get free flights.
How can you get started on travel hacking?
Check out our full conversation with Sunny Burns, then head over to Sunny's website to learn more about how his family uses credit card hacks to travel the world: famvestor.com/travel
About the ShowComments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
Saving money on groceries is one of the fastest ways to cut spending from your budget.
Given that the average family of four is spending about $800 per month on groceries ($200 per person), cutting costs at the grocery store and eating out less is one of the fastest ways to save money.
In Episode 17 of Talk Wealth To Me, Chase, Felipe, and Katie, sit down with Steve and Annette Economides who are the experts when it comes to frugal grocery shopping. When Steve and Annette had five kids living at home, the couple spent just $350 per month on groceries - $50 per person per month.
How did they do it?
- Taking inventory of the food they already at home
- Shopping at the grocery store just once per month
- Utilizing a very large freezer
- And more!
Listen to the full episode to hear Steve and Annette share the ins and outs of frugal grocery shopping as well as tips to get you started on grocery savings.
To learn more about Steve & Annette's grocery strategies visit their:
Website: https://moneysmartfamily.com
YouTube: https://www.youtube.com/user/MavinOfSavin
Pinterest: https://www.pinterest.com/annettesteve/
Facebook: https://www.facebook.com/AmericasCheapestFamily/
Free Downloads:
Shopping List and Price Tracker: https://moneysmartfamily.com/groceries/
Freezer Inventory: https://moneysmartfamily.com/grocery-tips-landing-page/ (bottom of the page)
Books:
- America's Cheapest Family Gets You Right on the Money
- Cut Your Grocery Bill in Half
- The MoneySmart Family System: Teaching Financial Independence to Children of Every Age
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
Oftentimes, conversations about finances center around ways to slash or cut your budget. But what happens when you can't "cut" any more excess from your budget?
Luckily, there is no limit on how much money you can earn. While side hustles have increased in popularity as a way to add some cushion to the living paycheck-to-paycheck lifestyle, not everyone wants to "hustle" to earn a dollar for the rest of their life.
One way to earn a passive income is to write a book and earn royalties each time someone buys your book. But even great writers are doubtful a traditional book publisher will give them the time of day. Enter self-publishing.
How Much Does It Cost to Publish a Book? The cost of publishing a book varies greatly but self-published authors can expect to spend anywhere from $100-$1500 to publish a book based on additional book production costs like editing, cover design, formatting, and more
In the latest episode of the Talk Wealth To Me podcast, self-publishing author MK Williams joins us to share why she turned to self-publishing, tips, and tricks she's learned along the way, as well as just how successful she's been using this passive income method to date!
About our guest:
MK Williams writes suspenseful literary fiction for the contemporary reader. Her first novel, Nailbiters, is an apocalyptic science-fiction thriller that has kept audiences up all night since its debut in 2015. Her latest novel, Enemies of Peace, was featured on several podcasts and continues to garner interest from fans of literary fiction and cautionary tales of the American Dream gone awry.
MK's work in the personal finance space includes co-authoring The Fiology Workbook: Your Guide to Financial Independence and helping other prominent blogs and podcasts in the space bring their message to print. Williams' writing influences include a lifetime of watching suspenseful mysteries and action movies and reading Stephen King, Margaret Atwood, Ian McEwan, Lauren Beukes, and J.K. Rowling.
MK joined Chase, Felipe, and Katie for a discussion on how you can start self-publishing to earn a passive income, as well as some tips and tricks MK's learned about the industry in the last four years.
For more information on MK Williams or to purchase one of her books, visit her website, check out MK's informational YouTube channel, or check out her books on Amazon.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
The Average American has a savings balance of $16,420. With the cost of an average adoption at $43,239, how is a couple able to afford adoption?
Laura Coleman is a Tennessee-based Accredited Financial Counselor with a special niche - preparing couples financially for fertility and adoption. After experiencing firsthand the financial burden and stress that accompanies the fertility and adoption process, Laura felt called to start her blog, podcast and financial coaching practice: Family Money Coaching.
Laura joins Chase, Felipe, and Katie for a discussion on strategies real families use to avoid or at least minimize debt when trying to grow their family through adoption or IVF, as well as tips to keep emotional spending in check when an adoption or fertility treatment doesn't pan out the way you expected.
For more information on Laura Coleman, AFC, or debt-free fertility journeys, you can visit her website, listen to her podcast, or sign-up for Laura's upcoming 12-week course: Financially Preparing for Adoption.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
How many of you would love to find a financial opportunity that would allow you to travel the world for weeks at a time and have your mortgage payment completely covered each month without ever having to step foot into an office?
Dustin Heiner of MasterPassiveIncome.com has done exactly that and joins us in Episode 14 of #TalkWealthToMe to share how he managed to earn more than $8,000 each month in the form of passive income through his 30+ rental properties.
Dustin shares with Chase, Felipe, and Katie, just how he got started with real estate investing, shares tips on how to get started if you're interested in a similar passive income investment opportunity, and more!
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
Have you ever started off the New Year with credit card debt because of all the money you spent shopping for the Holidays?
In Episode 13 of Talk Wealth To Me, San Diego Financial Literacy Center's (SDFLC) Community Outreach Director Chase Peckham, SDFLC Community Outreach Coordinator Felipe Arevalo, and DebtWave Credit Counseling's Content Writer Katie Utterback have a discussion about the benefits of financially planning for the Holidays as early as July!
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
We're joined in Episode 12 of Talk Wealth To Me by Clint Proctor for a discussion on how Clint turned his freelance writing side hustle into a full-time career in just seven months! Clint shares tips on how to decide if a side hustle is right for you, as well as other lessons he's learned along the way.
About Clint:
Clint Proctor aka the Wallet Wise Guy spent 10 years as a pastor. Now, Clint blogs about personal finance topics on his blog, WalletWiseGuy.com. Clint is also a freelance writer covering personal finance topics for publications including Business Insider and Credit Karma.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
We're joined in Episode 11 of Talk Wealth To Me by Ashley Patrick for a discussion on how she and her family were able to pay off $45,000 worth of debt in 17 short months!
About Ashley:
Ashley Patrick is a Ramsey Solutions Master Financial Coach and the brains behind BudgetsMadeEasy.com. A former police officer, Ashley helps families eliminate debt by using simple budgeting strategies so you can stress less and live the life you want.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
We're joined in Episode 010 of Talk Wealth To Me by Dan Hinz for a discussion on why engaged, newlywed, and married couples should talk about their finances, as well as tips on how to make those money conversations as easy as grocery shopping.
Dan mentioned a free gift for listeners of the Talk Wealth To Me podcast on the show. You can pick up a FREE copy of How to Talk About Money With Your Spouse: The Ultimate Guideby following this link.
About Dan:
Dan Hinz is the financial coach behind AdultingWithMoney.com. Dan is a graduate of Iowa State University holding a Master's degree in Business Administration with a focus on finance. Dan's 20,000+ word guide How to Talk About Money With Your Spouse: The Ultimate Guide teaches couples how to be on the same page with money by focusing on meaningful, lifelong habits, as well as some other helpful tips.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
Want to learn more about Dan Hinz? Visit his website AdultingWithMoney.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
We're joined in Episode 009 of Talk Wealth To Me by Leslie H. Tayne, Esq., for a discussion on ways single parents can lessen the expensive cost of childcare and camps during summer! Our conversation also includes some tips for having age-appropriate discussions with your children about budgeting and your financial situation.
Leslie H. Tayne, Esq. is an award-winning financial attorney and Author of Life & Debt. She has over 20 years of experience in consumer and business financial debt solutions which include negotiations with large international banks and credit agencies for loans, lines of credit, credit cards and student loans. Leslie is the founder and managing director of Tayne Law Group, P.C., a law firm headquartered in New York dedicated to debt resolutions. Leslie is frequently sought out for her expertise on financial, credit and debt topics and as a speaker, she regularly provides insight and strategies regarding all areas of debt and credit-related solutions.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
Want to learn more about Leslie Tayne, Esq? Visit her law firm, Tayne Law Group, or connect with Leslie on Facebook, Twitter, or Instagram.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
The crew of Talk Wealth To Me talks with Logan Allec, a CPA with a Masters in Taxation who began investing in real estate in his 20s.
Logan is a frequent source on financial topics for news outlets including NBC News, MarketWatch, BankRate, HuffPost, USA Today, and U.S. News & World Report. Logan also has a website - MoneyDoneRight.com, where he helps people make better financial decisions by educating them on topics including making more money, saving more money, and growing their streams of passive income.
For many, real estate investments are uncharted territory. Unlike stocks and bonds — often called “standard assets” — real estate is considered an “alternative asset,” historically difficult to access and afford.
15% of Americans were investing in property outside their primary residence, according to a RealtyShares survey. What holds people back? The costs and skills needed to get started. Only 38% of those surveyed thought they’d actually be able to flip a house start to finish, and more than 80% of millennials wished that real estate investing was easier.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
Want to learn more about Logan Allec? Visit his website MoneyDoneRight.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
In our latest episode of #TalkWealthToMe, we chat with Walter Russell, a financial advisor and self-described Disney superfan on ways to make trips to Disney theme parks more affordable AND more enjoyable.
Walter Russell is a financial advisor who specializes in helping financially successful people achieve their most important goals that are aligned with their most deeply held values. He has been in the financial services industry for 20 years.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
Want to learn more about Walter Russell? Visit his Disney savings tips website, Follow the Orange Backpack or check out his financial firm services at Russell & Company. Walter also has a personal finance website geared toward women - SimpleMoneyTipsForWomen.com. You can follow Walter on Twitter, Facebook, or LinkedIn.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
Are you tired of renting? Are you ready to own a home? Do you even know where to begin to look for a home? Do you know how to figure out what you can even afford when it comes to mortgage payments?
Buying a home for the first time is equally exciting and terrifying. When you're unsure of where to go and who to trust, shopping for a home - arguably the biggest expense you'll ever have - is intimidating.
Joining us on the show today is Daniel Lehman, a published financial author, and Vice President of Mortgage Lending for Synergy One Lending in San Diego. He is very active in the Military and Veteran communities, serving as a board member for the San Diego Financial Literacy Center which enhances the financial IQ of San Diego County residents with a focus on youth, military, and veteran families.
A growing icon in the mortgage education space, Daniel teaches workshops spanning San Diego County to educate veterans and agents about the VA home loan benefit. Additionally, he hosts the “Military Mondays” radio show Monday evenings at 7pm PST on channel 1170AM KCBQ which aims to educate, empower and engage the San Diego Military and Veteran communities.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
Want to learn more about Daniel Lehman or possibly work with him? Check out his contact information here.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
Fifty percent of marriages end in divorce. While we don't always plan for our own marriage to fail, life happens.
In our latest podcast, we're joined by Laurie Itkin, a financial advisor, wealth manager, and certified divorce financial analyst. She's the author of the best-seller "Every Woman Should Know Her Options: Invest Your Way to Financial Empowerment," and a frequent and beloved volunteer with the San Diego Financial Literacy Center.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
Want to learn more about Laurie Itkin? Visit her website, check out her book, "Every Woman Should Know Her Options," or follow her on Twitter.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
Marriage and Family Therapist Ed Coambs, MA, MBA, LMFTA, CSAT-C, CFP, who also specializes in financial therapy, joins us to discuss financial infidelity: What is it? How does it affect a marriage? And what can you do if financial infidelity happens to you?
When we keep financial secrets from our spouse or significant other, we are guilty of financial infidelity. But according to a new study, only 52 percent of individuals believe their significant other is totally honest with them when it comes to money.
Given that 50 percent of marriages end in divorce, and financial issues are the leading cause for separations in the nation, we asked Ed to share some insight with us on what happens when financial infidelity occurs: Are our relationships completely doomed when our spouse makes a purchase without our consent? What if they're earning more than they lead us to believe? We chat about all of this and more - along with how our childhood and emotional money baggage plays a role in our spending and saving habits!
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
Want to learn more about Ed Coambs? Visit his practice website or check out this blog on financial infidelity from DebtWave Credit Counseling.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
We're joined on the show by Sarah Arevalo, DebtWave Credit Counseling's Quality Assurance and Compliance Administrator, who's also married to our beloved co-host Felipe, to chat about the cost of having a baby!
Wait, should I save money before getting pregnant?
Americans often severely underestimate just how much it costs to raise a baby in the first year.
According to a Business Insider article from July 2018: The average cost to have a baby in the US, without complications during delivery, is $10,808— which can increase to $30,000 when factoring in the care provided before and after pregnancy.
- 36% think it costs between $1,001-$5,000 to raise a baby during its first year
- 18% think it costs $1,000 or less
Half of all hopeful parents — and 48% of all Americans — think diapering items, including diapers and wipes, are one of the biggest expenses of the first year of a baby’s life. However, we estimate this expense at $743 for the first year — less than nearly all other cost categories in the analysis.
By contrast, only 37% correctly believe child care is one of the biggest expenses. Full-time care in a center costs an average of $8,059 for the first year of life — more than any other expense analyzed.
How much will it cost for you to have a child? Check out Nerd Wallet's baby calculator.
For parents concerned about baby recalls, you can find info on the US Consumer Product Safety Commission's Twitter account or their website.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)
You may have heard of credit scores before but do you know what a credit score really is? On top of that, how exactly is a credit score determined? And does anyone other than me really care what my credit score is anyway?
Credit Score 101Your credit score is a statistical number that is used to evaluate a consumer's creditworthiness aka how likely you are to pay debts back on time and in full without anyone having to twist your arm.
Credit scores range from 300 to 850. The higher your score, the more financially trustworthy a person is considered to be. But use caution: just because you have a high credit score today doesn't mean you'll necessarily have a high credit score or even the same credit score a month from now. That's because your credit score is like a living, breathing number constantly adjusting to your financial behaviors.
That's because your credit score is determined by five (5) main factors. They are:
- Payment History (35%)
- Are you paying your bills on time every month?
- Have you ever been delinquent?
- Were your delinquencies reported to the credit bureaus?
- Debt-to-Credit Ratio or Amounts Owed (30%)
- Are you utilizing more than 30% of your credit limit per credit card?
- Are you utilizing more than 30% of your total credit limit?
- Using more than 30% of your available credit, whether that be total limit or per card, can have a negative impact on your credit.
- Length of Credit (15%)
- How long have you had access to credit?
- The older your credit history, the better - it shows your ability to pay on time over a longer period of time and that creditors continue to find you trustworthy to lend to.
- New Credit (10%)
- How frequently are you looking for additional lines of credit? Experts recommend applying for new or additional lines of credit once every 12 months. Any more and your credit may take a bigger hit.
- Credit Mix (10%)
- Having different types of credit such as installment loans like a mortgage and revolving credit like a credit card can illustrate your ability to handle diverse types of financial debts.
Who cares about my credit score?Unless you're in the market for a new credit card, a home, or a car, chances are you may not care about your credit score, but that doesn't mean no one else does.
Those that may review your credit score include:
- Creditors
- Student Loan Providers
- Utility Companies
- Insurance Companies
- Landlords
- Employers
- Collection Agencies
- Government Agencies
- Courts
Where to find my credit score?
Order a free copy of your credit report from Experian, Equifax, and TransUnion each year and review it for errors by visiting AnnualCreditReport.com.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebo
Support the show (https://www.sdflc.org/help-sdflc/donate/)
You're listening to Talk Wealth To Me, the safe-space money podcast where we discuss anything and everything related to personal finance.
One of the first questions you may be asked when you ask for help with your money - whether that be through a wealth manager, tax preparer, or financial advisor - is whether or not you have a budget.
Myth #1: Budgets are for the Mega-Wealthy
Did you know nearly 93 percent of the public believes everyone should create a budget, but a majority of us are not creating budgets?
Yep, about 63 percent of us are not creating a budget whatsoever. The number one reason why? Most of us don't think we earn enough money to necessitate the use of a budget, but a budget is even more valuable when you have less.
How can that be? When we use a budget, we are tracking our income and our spending to ensure that we are not spending more than we are earning.
Myth #2: Budgets are great for limiting big-ticket spendingYou may think if you're not in the market to purchase a home, a new car, boat, or plan a vacation, you don't need to create a budget.
Oftentimes we view those in debt as individuals who were irresponsible with their money and used a credit card to purchase an item out of their price range. But as it turns out, most budget-busters are items that cost on average $20 or less. Why? Because we are not thinking about how these little items add up over time and cost us big time.
You've likely heard the example of getting coffee from a coffee shop in the morning. If you plan to spend $5 on coffee every morning in your budget, you likely won't be surprised by the amount of money you spent on coffee in a month. However, if you think your $5 daily habit isn't that expensive, what do you think about spending $25 on coffee per week or $100 a month? Is it more than you realized you were spending?
Myth #3: I have to cut cable if I'm on a budgetAnother myth about budgets is that if we're in debt we can't spend any money on any entertainment. A budget is a PERSONAL decision. Meaning, if you don't drink coffee or you're content with brewing your own at home, you can apply the money you save from coffee toward an HBO or Disney Plus subscription.
The point is that a budget is a personal decision. The only MUST with a budget is that your spending MUST not be greater than your earning. If it is, well, that's a topic for another day.
Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.
To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.
Support the show (https://www.sdflc.org/help-sdflc/donate/)