Finance
MONDAY MONEY TIP PODCAST: Choosing the Right Insurance
Another episode of the Monday Money Tip Podcast is LIVE! In today’s episode, we’re discussing how to make wise decisions when it comes to insurance providers. Everyone says they can save you money, but what do you really need? In our Current Money Events segment, I’m talking about how our mini-budget tool can help your family not lose momentum during summer vacations. Also, hear a success story from Debbie, whose life was changed because of a budget!
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 the 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:
- We answer the question: “I find the world of insurance so confusing. All of the various companies say I can save money by switching to them. Can you help us figure out how to make wise decisions when it comes to insurance providers? Also, it would be great to know what types of insurance I need – and what we don’t need!”
- In our Current Money Events segment, I shares about how our mini-budget tool can help your family not lose momentum during summer vacations.
- Hear a success story from Debbie, whose life was changed because of a budget!
Resources:
IWBNIN – Insurance
Mini-Budget Tool
Episode 15 – What Type of Insurance Should I Have?
Quote of the Day: “Insurance is the only product that both the seller and buyer hope is never actually used.” – Unknown
Do You Have a Vision for Your Money?
Do you have a vision for your money?
When you receive those precious Washingtons, Lincolns, Hamiltons, Jacksons, and Franklins, do you have a clear idea for the utilization of each one of them? Or is that money dead on arrival – doomed to be sent on their way without advancing you toward your life’s plans, hopes, and dreams – your Fully Funded Life?
Without a clear vision, it is highly likely that the money will disappear with little to no progress. After all, there are so many things competing for your dollars: Housing, Utilities, Kids, Food, Student Loans, Automobiles, Insurance, Gasoline, and everything in between! When we experience financial setbacks, which will occur often, it can be easy to just give in and give up saying soothing statements like:
- “We just can’t ever seem to get ahead financially.”
- “We’ll never win with money.”
- “I need to win the lottery.”
I encourage you to write down your vision for the money you’ll be receiving between now and the rest of the year. You’ve still got eight months to experience a massive shift toward your preferred financial future. One tool that has helped Jenn and I stay focused is a monthly budget. We always operate with a financial plan that looks out at least 12 months into the future (using this free annual budget template).
How Do Payday Loans Work?
I have two words when it comes to payday loans: RIP OFF! This type of lending is what I would classify as TRBL debt. T-R-B-L. Terrible. This type of lending is awful, and it should be illegal! So how do these loans work exactly?
First, these businesses set themselves up in sections of town where people have little money and little education. They prey on people who are in a financial bind and offer small loans of 200 or 300 dollars and then charge exorbitant amounts of interest. I have seen some interest rates as high as 782%!
As if paying these ridiculously high-interest rates wasn’t enough, these companies also force people to refinance these loans as often as every two weeks. This means that people are being continuously charged refinance fees on top of the crazy interest rates! Do you agree with me now? This type of lending should be illegal!
No matter how bad you think your financial situation is, I strongly urge you, do NOT fall victim to a payday loan. This type of lending is designed to trap you into a situation that you literally cannot win! Don’t let this happen to you!
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MONDAY MONEY TIP PODCAST: How to Never Have a Car Payment
Another episode of the Monday Money Tip Podcast is live! Many people believe they will always have a car payment but we’re here to tell you that this is simply not true. On today’s episode, we’ll share what you can do in order to never have another car payment. In our Current Money Events segment, we will cover the volatility in the stock market and later hear a success story from a woman who became debt-free including her mortgage!
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
Show Notes
About the Episode:
- We’ll share what you can do in order to never have another car payment.
- Get an update on the stock market in our Current Money Events segment.
- Hear a success story from Diane, who paid off all her debts including her mortgage.
- Hear how depreciation can (and will!) affect your vehicle’s value.
Resources:
I Was Broke. Now I’m Not.
Oxen Book
Known, Upcoming Non-Monthly Expenses Calculator
CarFax Article
Investment Value Calculator
Quote of the Day: “If you think no one cares if you’re alive, try missing a few car payments.”
MONDAY MONEY TIP PODCAST: Investment Fees
In Episode 22 of The Monday Money Tip Podcast, Joe and Megan continue the discussion on the topic of investing. Joe answers the featured question of the week about what types of fees are acceptable on investment accounts and give other important investment information. You will also hear a success story about a couple that paid off $45,000 in credit card debt. They did it and you can too!
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!
NOW AVAILABLE TO DOWNLOAD:
iTunes
Stitcher
Spotify
Website
Email info@iwbnin.com to ask questions or share success stories.
Show Notes
About the Episode:
- Hear Joe answer the question, “I have investments and pay 1.35% in fees. What do you consider to be an acceptable amount to pay in fees? Should I ditch this investment for something lower cost?”
- In our Current Money Events segment, Joe will share how you can make sure that you are prepared for your Christmas spending.
- Hear how a budget helped a couple pay off $45,000 in credit card debt.
Resources:
IWBNIN Tools
Christmas Mini-Budget
Joe’s Current Investments
IWBNIN Ladder
Oxen Book
Net Worth Calculator
Quote of the Day: “There is no harvest if you do not invest.” – Joe Sangl
Links:
Vanguard
Charles Schwab