In Episode 128 I talked about the divorce of Bill & Melinda Gates, the fact that they didn't have a pre-nuptual agreement, and when these agreements might be a good idea. Although they are of particular importance in community property states, here in New Jersey and other equitable distribution states, it still might be a good idea. But what if you got married without a prenup? What happens then? Is it too late to agree on certain issues, such as the division of property, alimony, and child ...
Dec 23, 2022•22 min•Ep. 167
The Christmas of 2021 presented its own challenges. Shipping delays and supply chain bottlenecks made it difficult for stores to keep items on their shelves, which led to less than stellar deals and long delivery times. I talked about all of this in Episode 141. But this Christmas is different and requires a different strategy. You, as the consumer, are more in the driver's seat when it comes to getting deals and getting your gifts in time for the holiday. That's why in this episode of the podca...
Dec 09, 2022•25 min•Ep. 166
Becoming permanently disabled can be devastating to your personal finances and seriously challenge your financial freedom and independence. In Episode 28 I covered how to deal with this if it's a result of a job-related injury. But what if it's for some other reason, like an auto accident or a debilitating disease? That's why in this episode of the podcast I bring back attorney Sam Gaylord to talk about how to get disability benefits, where you can get them, how you qualify for them, and how the...
Nov 25, 2022•54 min•Ep. 165
Financial freedom and independence can be achieved by diligently implementing proven strategies and tactics that will get you there. But if you don't have the right beliefs about money, it will be difficult, if not impossible to be successful. I discussed money mindsets in Episodes 34 through 36, but thought it was time to discuss it again. That's why in this episode of the podcast I talk with personal finance coach Derrick Kinney who has some great ideas, thoughts, and stories about having good...
Nov 11, 2022•36 min•Ep. 164
With issues like inflation, recession, and student loans being hot issues this Fall, there are lots of items in the news discussing them. People are concerned with the rising cost of living, salaries at their jobs that might not be tracking with it, and student loan debt that they are struggling to pay, if they can afford to pay them at all. That's why in this episode of the podcast I wanted to do a roundup of some of the stories in the news that discuss these issues in hopes that the informatio...
Oct 28, 2022•23 min•Ep. 163
With the pandemic essentially over with no more lockdowns of large gatherings, more and more people are setting dates and planning weddings. In Episode 96, I talked about getting your finances ready for marriage. But what about getting Ready for the Big Event itself? Weddings cost, on average, $20,000 at least, even before you pay for the guests at the reception ($70 per guest, average, so 100 guests would be another $7,000). This is a big expense before starting a life together. That's why in t...
Oct 14, 2022•25 min•Ep. 162
Now is an exciting and hopeful time for student loan borrowers. President Biden has announced a forgiveness program that will help many people struggling with payments. But there's more at work here than that. There are programs already in place that could also allow you to pay off your remaining balances sooner or get out of default (and repair your credit) while getting an affordable monthly payment. That's why in this episode of the podcast I go into detail about these programs, which one wil...
Sep 23, 2022•18 min•Ep. 161
In the last episode, and in Episode 149, I talked about the credit myths that may be holding you beck from building good credit and FICO scores that reflect it. Good credit scores are key to financial freedom and a bright financial future. But what can you expect when you get there? What does good credit look like and what are the advantages? Knowing the answers to these questions and what you are working towards, will help keep you motivated towards your goal, which is why I discuss these answe...
Sep 09, 2022•24 min•Ep. 160
Achieving and maintaining a good credit score is essential to maintaining your financial freedom. It allows you to get credit more easily and at more favorable rates. But many people are thwarted from doing this by all the myths and misconceptions that are out there about credit scores. I talked about this in Episode 149, but in my research I found a dozen more that are out there spreading "fake news" about what can help or harm your score. So let's dispel them right now. In this episode you wil...
Aug 26, 2022•19 min•Ep. 159
The news media has been talking a lot lately about inflation and the growing possibility of a recession. This has people worried about their short term financial plans, in dealing with inflation, and what a recession could do to their long term financial plans. That's why in this episode of the podcast I wanted to talk about not only inflation (which I've addressed in previous episodes), but recession as well, and offer a few tips for preparing your finances. In this way I hope to reduce your st...
Aug 12, 2022•22 min•Ep. 158
With inflation driving up prices and straining our budgets, we’re all looking for ways to save money. That includes increasing our take home pay by reducing the bite taken out of our paychecks by the government. That’s why in this episode of the podcast I wanted to talk about ways in which you can increase your tax deductions and decrease your taxable income. Also, because people are often afraid to do this because they fear an audit, I will also talk about audit red flags and how to avoid them....
Jul 22, 2022•25 min•Ep. 157
Although unemployment is low these days, there are many that are warning that we are headed into a recession, and that not only will the hot job market cool, but that layoffs may be headed our way. In addition, many companies that have made offers have since withdrawn them, often with people who accepted those offers having given notice at their previous job. That’s why in this episode of the podcast, I wanted to talk about what you should do if you should lose your job, or how to prepare for it...
Jul 08, 2022•21 min•Ep. 156
At its Worldwide Developers Conference earlier this month, Apple announced that it would be offering a Buy Now, Pay Later program as a part of its financial services to customers. This alternative form of payment for goods and services has had a resurgence during the pandemic, and Apple’s announcement has put it in the news. But what is Buy Now, Pay Later, and should you be making use of it as part of your household finances and budget? In this episode, I will dive deep into this service and adv...
Jun 24, 2022•19 min•Ep. 155
Back in Episode 80 I talked about Health Savings Accounts in conjunction with some high deductible health insurance plans through the Affordable Care Act. An HSA is a great idea if you have one of these plans. However, since I have been talking about retirement planning and saving lately, I wanted to revisit this great savings option, as these accounts can serve two purposes: protect you from medial costs in a high deductible health plan and help you save for retirement at the same time. Find ou...
Jun 10, 2022•22 min•Ep. 154
In the past two episodes, I have talked about financial education for our children and instilling them with a basic working knowledge and literacy when it comes to money. I also discussed in Episode 136 about how you should start saving for retirement in your 20s and how it can be done. But what if you started earlier than that? What if our kids started saving for retirement even before they graduated from high school? In this episode of the podcast, I will talk about how parents can help their ...
May 27, 2022•20 min•Ep. 153
In the last episode I talked with Jake Cousineau, a California educator who teaches financial literacy to high school students. But looking into this further I discovered that attitudes about money (called Financial Personalities) form way before a child reaches high school. Thus, teaching children from an early age (as I discussed in Episode 130) becomes very important. That’s why in this episode of the podcast I talk with Vince Shorb, a financial wellness advocate and educator, who has develop...
May 13, 2022•37 min•Ep. 152
When I was growing up, the boys took shop, and the girls took home ec. The latter, as we would say today, stressed gender roles, and consisted of cooking, sewing, and the like. But real home economics should deal with household finances, budgeting, credit, and the like. It should help to prepare high school students for the real world. That’s why in this episode of the podcast, I wanted to talk about how that should change, and has been changing in some schools around the country. To that end, I...
Apr 22, 2022•41 min•Ep. 151
There are many challenges that face people on the road to financial freedom, including credit card debt, student loans, and a loss of employment or reduction in income. Overcoming them can be a real struggle, but necessary in reaching financial independence. But women, particularly widowed or divorced women, face particular challenges that need to be addressed in order for them to get back onto their financial feet. That’s why, in this episode of the podcast, I talk with Certified Financial Plan...
Apr 08, 2022•40 min•Ep. 150
The pandemic has been disruptive economically to many people, to say the least! Jobs have been lost, income has been scaled back, and as we come out of all this, people are looking to rebuild and get a fresh start financially. Part of this is rebuilding their credit. But there are those out there who will be hampered from the start because of all the misinformation and misconceptions out there about credit and how it works. That’s why in this episode of the podcast I wanted to bust those myths a...
Mar 25, 2022•27 min•Ep. 149
U.S. News reports that more than 50% of those who were infected with COVID-19 or who lost income due to the pandemic are now struggling with medical debt. Even as new infections wane, and it looks like we are coming out of the pandemic, it may still have a longer term economic effect on many Americans. That is why, even though I covered this topic in Episode 11, I wanted to discuss it again for those who may be struggling with it who weren’t before. There are some things you can do about it, and...
Mar 11, 2022•23 min•Ep. 148
Tax time approaches as we head into spring, so it's a good idea to start thinking about what to do once your return is prepared and ready to file. Do you owe money? If so, are you able to pay it? On the other hand, if you're getting a refund, have you thought about what to do with it once it arrives in your bank account? So in this episode of the podcast I wanted to help you to answer these questions, so that when the time comes to either pay the piper or dance merrily to his tune you'll be prep...
Feb 25, 2022•22 min•Ep. 147
At this time of year, high school seniors are trying to select a college or university for their higher education. They’ve made their applications, filled out the FAFSA form, and are starting to get financial aid award letters. It’s an exciting time! But the decisions they make now can have far reaching consequences for their future, either good or bad. So in this episode of the podcast I talk about things you can do to increase the likelihood of success after graduation, and decrease the likeli...
Feb 11, 2022•18 min•Ep. 146
In Episode 136 I talked about how important it is to start planning and investing for your financial future as soon as possible, preferably in your 20s. In the last episode, Episode 144, I talked with Joe Okaly on the challenges families in their 20s and 30s face in achieving financial freedom. Certainly, the earlier you start, the better. But is it ever too late? What if you are in your late 30s or in your 40s? Is there still a way to invest and plan for financial freedom in retirement? So in t...
Jan 28, 2022•20 min•Ep. 145
In Episode 136 I talked about how important it is to start planning and investing for your financial future as soon as possible, preferably in your 20s. Even if you can’t put aside that much initially, that money has the maximum growth potential between now and retirement. But young families face some unique challenges that can make it difficult to “pay yourself first” (and not all the bills that fall due every month). That’s why in this episode of the podcast I talk to Joe Oakley, a Certified F...
Jan 14, 2022•50 min•Ep. 144
Once the holidays are over and our attention is drawn to the coming new year, it is inevitable that we start thinking about New Year's resolutions. How can we make 2022 better than 2021 as far as our financial freedom is concerned? That's why in this episode of the podcast, as in December podcasts in previous years, I wanted to talk about the resolutions you should be thinking about making in order to improve your financial situation and get that much closer to financial freedom. In this episode...
Dec 24, 2021•21 min•Ep. 143
These days, Bitcoin and cryptocurrency is in the news quite a bit. People are talking about using it for online purchases of goods and services, as well as investing. It is, in effect, becoming the “next big thing.” Buy what is cryptocurrency, how do you get it, and how do you spend it? Plus, is it safe or even a good idea to use? So in this episode of the podcast I get into the details of cryptocurrency and answer those questions! In this episode you will learn: What is cryptocurrency? How does...
Dec 10, 2021•23 min•Ep. 142
With all that has happened with the pandemic to date, holiday shopping this year will be a challenge to say the least. Between supply chain problems, inflation, and employment shortages at retail establishments, staying within your budget and still getting the perfect gift for everyone on your list will not be easy. That’s why in this episode of the podcast I wanted to give you a Top 10 list of tips (plus a bonus) on how to get through it all with the least amount of fuss and the most amount of ...
Nov 26, 2021•22 min•Ep. 141
When it comes to the job market and the economy, the pandemic has created an interesting and unusual phenomenon. Called The Great Resignation (or the Big Quit), it is an ongoing trend of workers quitting their jobs that started in the Spring of this year. Characterized by Wikipedia as being in response to the pandemic, the government refusing to provide necessary worker protection, and wage stagnation despite the rising cost of living. But those that quit still have to find another job to pay th...
Nov 12, 2021•50 min•Ep. 140
In Episode 110 I talked about how to become a millionaire and discussed the book, The Millionaire Next Door by Dr. Thomas J. Stanley and Dr. William D. Danko. It showed that the vast majority of American millionaires are not who you think they are, and that becoming wealthy is something that can be done. But the path to wealth is a choice and a mindset. You have to think the right way about money in order to acquire and grow it. That’s why I wanted to follow up on that topic in this episode by t...
Oct 22, 2021•55 min•Ep. 139
In the last episode, Episode 137, I talked with Myles Gage about starting a business after graduation. We talked about whether you should take the entrepreneur path, what kind of business you should start, and how you should prepare yourself financially for this step. But starting a business is very risky, as most businesses fail. That’s why in this episode of the podcast I wanted to address that fact and look into the reasons why these businesses fail, and how you can try to prevent this from h...
Oct 08, 2021•51 min•Ep. 138
