Top Money Questions – December 2019

Happy Monday and Happy (almost) New Year! It’s the last Monday of December, so we’re answering all of your top money questions on the Monday Money Tip Podcast. Questions today range from starting a small business to rental properties to long-term care insurance policies. In our Current Money Events segment, we’re discussing what you can do NOW to help you achieve your financial goals in 2020. Our success story today comes from Ms. Parker, who has been able to make huge progress on her debt elimination journey. 

Find the Monday Money Tip Podcast HERE. Please let us know what you think by leaving us a rating!

Email info@iwbnin.com to ask questions or share success stories.

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About the Episode: 

  • Today, we’re answering your top money questions from December, including questions about starting a small business, obtaining rental properties, and if purchasing a long-term care insurance policy is a good idea. 
  • In our Current Money Events segment, we’re discussing what you can do NOW to help you achieve your financial goals in 2020.
  • Hear a success story from Ms. Parker, who has been able to make huge progress on her debt elimination journey. 

Resources:
20/20 Money: Gaining Clarity For Your Financial Future
IWBNIN – Tools
Debt Freedom Date Calculator
IWBNIN Ladder
Debt Snowball – Video
MMT Podcast – Episode 18: How to Pay Off Debt Quickly
MMT Podcast – Episode 28: 8 Ways to Speed Up Debt Elimination
MMT Podcast – Episode 36: Bite-Sized Debt
BOOK: I Was Broke. Now I’m Not.
BOOK: OXEN: The Key to an Abundant Harvest

My Personal Rules for any debt arrangements relating to business investments:

  • I won’t finance anything that makes me lose sleep at night. 
  • I won’t finance anything that my bride doesn’t agree with. 
  • I won’t finance anything that prevents me from living generously. 
  • I won’t finance anything that prevents me from pursuing my family’s God-given plans, hopes, and dreams.
  • I must have a path to paying off the debt within five years.
  • I must have at least 50% ownership stake so I have the ability to take control of the investment.

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