MONDAY MONEY TIP PODCAST: Joe’s Current Investments

Welcome back to another episode of the Monday Money Tip Podcast! This week, we will discuss the stock market in our Current Money Events segment and you’ll hear the “Joe Sangl” approach when it comes to investing and the diversification of income. Lastly, we will share a success story from a listener who created financial margin in her life and even forgot it was payday!

It’s our goal at the end of each episode that you gain hope and encouragement in your financial journey, you’re equipped to take a next step, and that you’ve had FUN with us!

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.

NOW AVAILABLE TO DOWNLOAD:

iTunes
Stitcher
Spotify
Website
YouTube

About the Episode:

  • Hear a stock market update in our Current Money Events segment.
  • We will share the “Joe Sangl” approach of how to diversify income.
  • Hear a success story from an individual who created financial margin in her life and forgot it was payday.

Resources:

IWBNIN Saving & Investing Tools
Oxen Book
Social Security Calculator
Net Worth Calculator
Charles Schwab


Quote of the Day: “The Bible says in 2 Corinthians 9:6 that if you sow generously, you will reap generously. If you sow sparingly, you will reap sparingly. But what if you sow nothing at all? I suspect you will reap nothing!” – Joe Sangl

Change Your Mindset On Budgets

What thoughts or emotions come to mind when you think about creating a budget? Frustrating? Horrible? Painful? I’d rather go to the dentist for a root canal? This used to be my mindset on budgeting so I completely understand every negative emotion that you feel. However, when I decided to change my financial future I knew that the key to this was a budget. In order to actually create a budget and follow through with it, I had to change how I viewed a budget and I’m here to tell you that you can too.

If you want to change your mindset on budgeting you first have to realize what a budget really does. It is not meant to be restrictive or remind you that there is never enough. What a budget really does is the opposite. A budget allows you to actually decide where it wants to go instead of wondering where it went! This is HUGE! A budget gives you control. A budget allows you to manage your money and ultimately fund dreams. I don’t know about you but I would much rather fund my dreams instead of going to the dentist for a root canal.

Instead of looking at a budget as a worthless process, start to think about what a budget can do for you. Write down your dreams. Do they cost money? How are you going to get that money? A budget. Once you start looking at a budget as a way to make your dreams a reality, any negative thoughts will become a thing of the past.

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Want more tips like this one?  Subscribe to the Monday Money Tip Podcast HERE.

MONDAY MONEY TIP PODCAST: Bite-Sized Debt

Happy Monday! Another episode of the Monday Money Tip Podcast is live and this week we will share with you how you can break down your debt into bite sized pieces. We will give you updated statistics about the average student loan payment and more in our Current Money Events segment. We will also share a success story from an individual who saved money in her budget by simply asking for a better deal.

It’s our goal at the end of each episode that you gain hope and encouragement in your financial journey, you’re equipped to take a next step, and that you’ve had FUN with us!

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.

NOW AVAILABLE TO DOWNLOAD:

iTunes
Stitcher
Spotify
Website
YouTube

About the Episode:

  • Learn about the median and average debt payments in America.
  • Hear a success story from an individual who cut the fat in her budget by looking at things differently and not being afraid to ask for a better deal.
  • We will discuss how to make debt more manageable and create a plan of attack by breaking it down into bite-sized pieces.

Resources:

Debt Freedom Date Calculator
American Housing Survey
Average Student Loan Payment
Credit Card News Article
Credit Card Minimum Payment Calculator
Annual Credit Report
0% Balance Transfer Credit Card
I Was Broke. Now I’m Not. Book
Debt Snowball YouTube Video
IWBNIN Ladder
Debt Pay-Off Spectaculars

Quote of the Day: “Persistence is essential to accomplishment.”

 

401(k)’s Explained

I’m sure by this point you know it is very important to save into a retirement account so that at one point you can stop working. But this can be confusing to navigate when you are unsure of what the different accounts are and how they work. The numbers and letters are thrown around so often it can be easy to feel like you should just KNOW what everything means. But what exactly is a 401(k)?

Simply put, a 401(k) is a retirement savings plan that comes from Section 401 part k of the IRS tax code. It is what is known as a “pre-tax” investment which means that generally you are able to deduct annual contributions on your taxes each year. Once the money is in the account, it grows tax-free until you withdraw the money. At that point, you will have to pay taxes on your initial investment and also any growth that has accumulated.

If your employer has a 401(k) available for you to invest in, most times they will also offer a match up to a certain percentage. For example, some employers may match dollar for dollar up to 6%. So if you invest 6% of your paycheck into your 401(k), your employer will match that 6%. That’s FREE money!

401(k)’s can be a fantastic vehicle to accumulate money for retirement. While it can be confusing with so many different types of accounts the key is to get started saving and never turn back!

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Want more tips like this one?  Subscribe to the Monday Money Tip Podcast HERE.

MONDAY MONEY TIP PODCAST: 15 Words That Describe Budgeting

Happy Monday! This week on the Monday Money Tip Podcast, we’re going to discuss how you can change your mindset when it comes to budgeting. We know that the thought of a budget can create many negative thoughts and emotions so we want to share some alternative words and phrases you can use to combat those feelings. In our Current Money Events segment, we will share with you how you can “spring clean” your money to experience clarity and financial margin. Lastly, we want to share a success story from an individual who was able to prevent debt even in the midst of multiple financial emergencies.

It’s our goal at the end of each episode that you gain hope and encouragement in your financial journey, you’re equipped to take a next step, and that you’ve had FUN with us!

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.

 

NOW AVAILABLE TO DOWNLOAD:

iTunes
Stitcher
Spotify
Website
YouTube

About the Episode:

  • In our Current Money Events segment, we will discuss how to spring clean your budget.
  • Hear a success story from an individual who was able to prevent debt during multiple financial emergencies this month.
  • Learn how to begin associating words and phrases such as “freedom giver” and “money maximizer” with the budgeting process.

Resources:

IWBNIN Free Calculators
Annual Plan
IWBNIN Budget Tools

Quote of the Day: “Budgeting is telling your money where to go instead of wondering where it went.”