Budgeting

Could Your Retirement Account Get Hacked

We’re all fully aware of the Equifax debacle where millions and millions of people’s information has potentially been exposed to hackers. We’ve also heard of breaches at places like Target and Sonic. Most of us aren’t thinking that our retirement and brokerage accounts are actually primed and ready for hackers – but they are – and you need to be prepared.


On This Podcast Episode:

The answer is yes – your retirement and brokerage accounts can get hacked. Reason number  3 million 52 as to why you need to stay on top of your money, at least every month, to make sure you haven’t been breached.

We’ll chat about what you need to know to keep your accounts safe and some steps you should take in case you are hacked to make sure you can get the money put back into your account…because there aren’t laws around that.

Links Mentioned:

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

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Disclosure:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.

 

 

Up Your Money Game Plan in 8 Steps

It’s that time of year again to come up with your money game plan for the rest of the year. I can hardly believe it’s back to school time and that the holidays are just around the corner. There’s no better time than now to set a money goal for yourself and craft a money game plan.

It's that time of year to take your money game plan to another level. Here are 8 steps to get you started.

On This Podcast Episode:

  • I’m diving into 8 steps to help you up your money game plan
  • Find out how long it really takes to better your budget
  • What’s one easy step you can take today
  • Set your goals and action plan for success

Links Mentioned:

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

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Disclosure:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive

 

Your Credit Card Is Broken – Meet Final

According to Final —  your credit card is broken and they’re here to fix it. Final is the only credit card that puts the consumer back in control of their finances by administering a new number for every merchant, enabling secure payments, eliminating fraud and providing clarity into spending habits.

If you've ever been a victim of credit card theft you know what a pain in the butt it can be to sort out. I'm talking with Aaron from Final, a company that is helping you take back control of your credit spending.

With 1% cash back on purchases and no annual fee, Final is the credit card for the tech-savvy spender who doesn’t want to hassle with changing their payment info with every vendor when a security breach occurs or a credit card gets lost.

Admittedly, I hadn’t heard about Final until I spoke with Aaron, but I think this is a really cool concept that could definitely change the way we think about credit cards – and put us, the consumers, back in control.

On This Podcast Episode:

  • I’ll chat with Final CEO and Founder, Aaron Frank, about what Final is up to
  • Learn why Final thinks your credit card is broken
  • Aaron will share a bit about the future of credit cards and security
  • Interested in Final, head to their website for more details

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

 

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Disclosure:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.

 

 

Hate to Budget…Try This Instead

I’ve heard time and time again how much people actually hate the process, let alone the word, budgeting. After working with hundreds of people helping them get in a better relationship with their budget, I’m convinced that most of us don’t understand the key principle or reason why you should budget.

Budgeting gets a bad wrap for sure. I've got a quick an easy way for anyone who hates to budget to radically take back your bank account and empower your money.

You see, a budget isn’t about taking stuff away, but rather about providing a road map so you can actually achieve all those awesome goals that you have for your life.

A budget doesn’t have to be rigid either and you can use whatever method you prefer – an app, paper, Excel spreadsheet, a Post-it note…it’s not in the method but in the how and why.

On This Podcast Episode:

  • I’m breaking down why you do this budget thing, to begin with
  • How to approach your budget so you don’t feel like it’s a chore
  • What you’re looking for in your budget
  • How to do an easy month long experiment to empower your bank account

Take Back Your Bank Account (and budget):

  1. Take a piece of paper and figure out what your “have to spend” expenses are – including groceries
  2. Then deduct that from how much you make
  3. That balance, that’s what you’ve got for all the things you want to spend your $$ on plus your variable expense – the things that change for the month
  4. Let’s do this as a group exercise for one month weekly
    1. Once you get to #3, create a piece of paper for each week
    2. Write at the top what your bank account balance is
    3. Write down every time you spend money on it and put an (F) for fun or an (H) for have to spend
    4. At the end of the week add up all your Fun’s and your “have to spend” money on amounts in separate columns and subtract your bank balance – paying special attention to the fun’s that you spent money on that week. Do you see anything that is shocking to you? Write a note on the piece of paper
    5. Start again next week same process, rinse and repeat
    6. AT the end of the month, look back over your 4 sheets – what fun’s do you see that maybe you didn’t know you were spending your money on? Did you have more or less at the end of the month than you thought?
    7. What’s missing?

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

Want More:

Disclosure:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.

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Summer Reboot – This Budgeting Things Works

We’re kicking off this summer reboot with one of our most popular travel episodes about the power of budgeting. While we’re on hiatus for a few weeks we’re bringing you some of our very best, most popular, and just great episodes for you to enjoy twice a week.

Marie shares her secret budget tricks that helped her save for a dream trip to Iceland.

Budgets Do Work

Podcast listener, Marie, woke up one morning and decided that it was time to give this budgeting thing a try. She buckled down, analyzed her bank statements, and was shocked at how much money she was spending on eating out. (Yah, it’s actually a common big expense for most people).

You see, she had been dreaming of a trip to Iceland, but had no idea how to achieve it. Wouldn’t you know it, all along she had the money just sitting in her bank account waiting for her to find it.

It’s In Your Bank Account

Once she came up with a game plan to cut her expenses, Marie was able to afford her dream trip in less than a year. Oh, and she didn’t just go to Iceland for a few days. She went to Iceland for a whole two weeks!

On This Podcast Episode:

  • Learn how Marie implemented a few changes so that she could save HUGE bucks each month
  • Find out how awesome her trip to Iceland really was
  • What goals are on tap next, and her advice to other budgeting skeptics

Budgeting doesn’t have to be hard, and that’s coming from me as both the money expert and an everyday person just like you. I really don’t like to budget each month. I kind of do it with a bit of an attitude, if I’m honest.

BUT, and this is a big one, I know how important budgeting is to my entire financial future. Budgeting is how I’m going to be able to achieve all the dreams and goals that I want to….and I’ve got some big ones to achieve.

Hang in there if budgeting is hard for you. Keep working at it and I promise you will see the difference in your wallet, and in your life, very soon.

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

Disclosure:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.

 

 

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Budget for Your Life Not Your Bank Account

It takes some work to spend $2 million a month like Johnny Depp has been the last few years. I mean, come on, that does take some work to do that (but I’d love the chance to try, right). You don’t need to have Johnny Depp’s bank account though to let yourself get carried away with your budget and spending.

Did you know that Johnny Depp was spending $2 million a month? What? You don't need to be mega rich to outspend your bank account, but no matter what, you've got to learn how to budget for your life.

I’m often asked the question, “Why should I do this budget thing anyway?” Well, what is it that you want to achieve – buy a house, start a family, move to France, travel to the Bahamas?

What is it that you’re playing for? You see, even Johnny Depp’s financial advisors started to waive some caution flags in front of him when his spending got carried away. When this happens, it’s time to dial in and budget for your life, not your bank account.

On This Podcast Episode:

  • We’ll chat about the ridiculousness of Johnny Depp’s spending
  • How you can visualize your own spending
  • Where do you begin to set some boundaries
  • What are you playing for

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

Disclosure:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.

 

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Saying I Do With Student Loans

Getting married should be the best day in your life filled with fun and excitement as you look towards your future together. However, when saying “I Do” with student loans, there are a few questions you should ask before you march down the aisle.

If you've got student loans, here are some things you need to know about your student loan before you get married.

It seems like there are an endless amount of student loan repayment options these days. So many different varieties, not to mention private loans and all of the refinancing companies like SoFi.

Do you know what type of repayment plan you have? You should, because that’s pretty important to know before you get married.

Can getting married impact your student loan payment…yes, and maybe. It’s never a simple answer, right?

On This Podcast Episode:

  • I’m dishing what you need to know before you say “I Do”
  • It all starts with knowing what type of student loan you currently have, and what the income situation is going to look like once you get married
  • Let’s also talk about those important money dates to get on the same page
  • Some steps to talk to find out the impact marriage will have on your budget

Links Mentioned:

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

Disclosure:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.

 

Why a Roth Has More Bang for Your Buck

Which should you choose: a Roth or a traditional IRA? While there are loads of factors to consider, a new survey suggests that the Roth is the clear winner.

Which should I choose: a Roth or a traditional IRA? That’s the question that always seems to be top of mind with many millennial investors.

While I’m always quick to suggest that there are many factors you should consider BESIDES which one will net you the biggest potential return in retirement, a new study by NerdWallet makes a compelling argument in favor of everyone’s favorite, the Roth.

Regardless of your retirement tax rate, it appears that the Roth is a powerhouse when it comes to outperforming its friend, the traditional IRA. Check out the podcast episode to hear what you need to know about the Roth.

On This Podcast Episode:

  • We’ll do a deep dive into this study about the Roth
  • Discuss the differences between a Roth and an IRA
  • Talk about a few factors that might stop you from going all in with a Roth
  • Understand the power of your retirement tax rate – and how you can’t possibly know what it will be now – and that’s ok

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

 

 

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Make Your Tax Return Count

There's always the question of what to do with your tax return. I give you permission to have fun with a portion of it but the rest, that should be saved for a smart money move.

Make Your Tax Return Count

It’s tax time and that means you start the seemingly endless wait for your return showing up in your bank account. What to do with all that money?

While you’re probably dream of tropical escapes and that brand new car you been eyeing, I’m here to offer a few suggestions to help you grow your return so you can have even better options down the road.

On This Podcast Episode:

  • We’re talking 3 smart tips for your tax return
  • I give you permission to have fun with a portion of your return
  • Why taxable accounts might make sense
  • How to build a solid savings mindset

 

Best Cities to Get Out of Debt

Let’s be honest. Being debt-free is a big milestone. It offers you a lot of freedom to live life the way you want to – travel, buy a house, start a business, have a baby, get paid less, etc.

Having debt though is a reality that many of us face, usually multiple times in our lives. One thing’s for sure, if you’re trying to pay off debt, you’ve got to live someplace that enables  you to enjoy a low-cost of living…while still having fun.

Having debt is a reality for many of us and in order to pay it off you've got to live someplace where you can enjoy a low-cost of living while still having fun.

SmartAsset recently put together a survey of the best cities to live in to get out of debt. Some of the places on this list might surprise you – like Anchorage, Alaska being the #1 city to live in if you’re trying to get out of debt.

On This Podcast Episode

  • We’ll chat about the statistics of having credit card debt
  • Discuss my own money managing system to kick debt in the butt
  • Which cities SmartAsset has uncovered to help you get out of debt
  • Why it’s ok to not freak out about debt

Do you live in one of these cities listed? Hit us up on Instagram (tag @millennial_money #millennialmoneypodcast) and tell us why your city is helping you stay credit card debt-free.

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