Reduce Debt Increase Wealth

Send us Fan Mail How to budget, the basics using the tracking software to get reports and grouping.  How to reduce overall spending on items. Review the budget to remove items not using or no longer needed.  Article Links: https://studentaid.gov/resources/prepare-for-college/students/budgeting https://www.consumer.gov/articles/1002-making-budget#!what-to-do Support the show Please support the show...

Send us Fan Mail Why tracking is important both to know how much debt is owe, and when due.  Tracking checking, credit cards, savings knowing what is due when and the amount in emergency fund.  Article Links: https://www.nerdwallet.com/article/finance/tracking-monthly-expenses By Courtney Neidel https://files.consumerfinance.gov/f/documents/cfpb_your-money-your-goals_spending_tracker_2018-11_ADA.p...

Send us Fan Mail Why plan for retirement social security will be enough to live on, I hope. Don’t plan on having someone else to take care of you, plan on taking care of yourself.  Article Links: https://www.investopedia.com/articles/retirement/11/5-steps-to-retirement-plan.asp By Julia Kagan https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/our-activities/resource-center/publications/top-10-...

Send us Fan Mail Take the time to look ahead in life, then plan for whatever is coming. This is what most people fail to do, failing to plan is planning to fail.   Article Link: https://www.themuse.com/advice/50-personal-finance-tips-that-will-change-the-way-you-think-about-money By Alden Wicker   Support the show Please support the show by subscribing, can cancel at any time. Thanks for the suppo...

Send us Fan Mail Is it a good place to get a loan, it depends on what the use of the loan is going to be. Be careful and know the interest rates and all fees before accepting this type of loan.   Article Links:  https://www.policygenius.com/loans/news/5-risky-loans-to-avoid-at-all-costs/ By Paul Sisolak   https://www.investopedia.com/articles/personal-finance/111815/8-possible-risks-unsecured-pers...

Send us Fan Mail Feeling overwhelmed with bills, it seems there never enough money to pay all. How to get out of this cycle and have money to save. The first thing to do in this process is to review…  Article Links: https://www.gobankingrates.com/money/jobs/10-reasons-living-paycheck/ By Christina Lavingia Support the show Please support the show by subscribing, can cancel at any time. Thanks for...

Send us Fan Mail What is a debt management plan, is it the same as a debt reduction plan what is the difference between these plans.  Should a debt management plan be something in place before borrowing money.  Article Links: https://www.bankrate.com/personal-finance/debt/what-is-debt-management/ By Raychelle Heath https://www.moneymanagement.org/debt-management/what-is-a-debt-management-plan Supp...

Send us Fan Mail Before getting a debt consolidation loan the first thing to do is to have a debt reduction plan. This way getting that loan will be easier and perhaps not even required. There are many apps that help with getting finances under control. They may not help until the user has a better understanding of getting spending under control. Article Links: https://www.nerdwallet.com/article/l...

Send us Fan Mail This is a quick and easy way to get started with a budget. Knowing categories and the percentages of each is key in keeping a successful budget.  Article Links:   https://www.quicken.com/blog/budget-categories By John Worley https://familybudgetexpert.com/budget-categories/ By Rob Bertman CFA, CFP Support the show Please support the show by subscribing, can cancel at any time. Tha...

Send us Fan Mail How to use your tax refund to reduce your debt. Many people think by using tax refunds to pay down debt is the best thing to do. This may not be the best way to use a tax refund.  Article Links: https://www.cnbc.com/2021/04/13/here-are-some-smart-and-also-fun-things-to-do-with-that-tax-refund.html https://www.thebalance.com/ways-not-to-spend-tax-refunds-4126876 Support the show Pl...

Send us Fan Mail Bye now the Christmas spending is showing up on credit card statements. Now the time to start planning to avoid the same debt problems next year. How to quit using credit cards to pay for Christmas.  Article Links:   https://www.cnbc.com/2021/11/29/holiday-shopping-2021-more-than-half-of-americans-are-going-into-debt.html By Jessica Dickler Support the show Please support the show...

Send us Fan Mail Many Americans are living paycheck to paycheck don’t feel alone. This is a common problem among middle income and high earners making over $ 100,000 per year. So, it not the income that the problem perhaps spending too much with too much debt.  Article Links: https://www.investopedia.com/articles/personal-finance/091015/why-high-earners-still-live-paychecktopaycheck.asp    By Rebe...

Send us Fan Mail Retirement is not an age but should be when finances allow retirement to happen. Retire early is only limited to income, debt owed, and the ability to pay all the bills. Having wealth in abundance at an early age solves this long-time problem.  Article Links: https://www.ramseysolutions.com/retirement/what-is-the-fire-movement   https://www.cnbc.com/select/lessons-from-people-who-...

Send us Fan Mail What is personal finance, it more than paying off debt or creating a budget. It is planning, managing money as well as savings and investing. Also, the protection of assets plus protection of income. This podcast focuses on reducing debt, but personal finance is much more.  Article Links:  https://www.credit.com/personal-finance/   https://corporatefinanceinstitute.com/resources/k...

Send us Fan Mail Getting debt under control is the first step in building wealth. It takes more than getting out of personal debt. Building wealth takes investing to the max and maybe even starting a business to help create the wealth wanted.  Article Links:  https://youngandtheinvested.com/how-to-build-wealth/  By Riley Adams, CPA https://www.tonyrobbins.com/business/building-wealth/ Support the...

Send us Fan Mail The final process is to create a financial plan. Getting here has been a lot of work tracking income and expenses, creating a budget, getting a debt reduction plan in place. Now the final step is to put down on paper your financial plan.   Article Links: https://www.franklintempletonindia.com/investor/investor-education/video/importance-of-financial-plannng-io04og31     https://ww...

Send us Fan Mail Started tracking expenses and income, setup a budget now knows where the money is going, the next step is a debt reduction plan. This is the next step towards getting credit card and all debt under control.  Support the show Please support the show by subscribing, can cancel at any time. Thanks for the support. Subscription page:  https://www.buzzsprout.com/961804/support Contact:...

Send us Fan Mail New year maybe good time to setup a new budget. Already have budget good time to review and make changes to reflect the changes in life.  Adding new categories, removing old ones is an ongoing process.  Request a budget worksheet already setup by going to ReduceDebtIncreaseWealth.com face book page send instant messenger request budget worksheet giving your email address will send...

Send us Fan Mail What is tracking and how does this work with a budget. First a budget only shows what you should be spending. Without tracking how would a person know if on track or spending too much. The most important part of your personal financial life should be tracking.  Article Links: https://www.thebalance.com/how-to-track-your-expenses-2385695 By Miriam Caldwell   Small Expenses That Can...

Send us Fan Mail Unable to pay off credit card balance every month a problem is developing. To solve this problem stop using credit cards to made purchases. This is how to stop using credit cards, the rewards are not worth the interest and fees that may be paid.  Article Links: https://www.forbes.com/advisor/credit-cards/how-to-get-off-the-cycle-of-using-your-credit-card-for-everything/ By Kelly A...

Send us Fan Mail Building credit is important for everyone. Having a bad credit score will hurt the chances of getting a loan, and even increase cost of insurance.   Article Links:   https://www.experian.com/blogs/ask-experian/credit-education/improving-credit/building-credit/ By  Stefan Lembo Stolba   https://www.bankrate.com/personal-finance/credit/how-to-build-credit/ By Nicole Dieker   https:/...

Send us Fan Mail Debt consolidation may be a good idea, can you get the loan with lower interest rate. Is your credit rating improving or getting worse since the last loan or new credit was issued. Getting a higher interest rate loan does not make sense so beware before getting a loan consolidation.   Article Links: https://www.forbes.com/advisor/personal-loans/pros-and-cons-of-debt-consolidation/...

Send us Fan Mail Companies offer you relief from credit card debt if it sounds to good to be true then beware. What to know before doing anything. Do it yourself to reduce the cost and time to get out of debt.   Article Link:  https://www.consumer.ftc.gov/articles/0145-settling-credit-card-debt Support the show Please support the show by subscribing, can cancel at any time. Thanks for the support....

Send us Fan Mail What can be done to lessen the impact of inflation on household budgets. What is inflation and how to tell if it is affecting your budget.  Article Links: https://pocketsense.com/budget-inflation-2221946.html By William Adkins https://www.theadvertiser.com/story/money/business/2021/08/07/how-account-inflation-your-budget/5499935001/     By Mary Fox Luquette All episodes now on Red...

Send us Fan Mail Having some type of debt reduction plan is a must to get rid of credit card debt. There are things to do to help and things to avoid at all costs.   Article Links:    https://www.nerdwallet.com/article/finance/find-debt-relief By Bev O’Shea  https://www.consumer.ftc.gov/articles/0150-coping-debt All Episodes now on Facebook, go to ReduceDebtIncreaseWealth.com to find. Look for pod...