Rank #1: Money Talks: Refinancing Mortgages
Guest: Adam Black, mortgage broker from Renasant Bank https://ablack-renasantbank.mortgagewebcenter.com/
The show discussed current interest rates, costs to refinance, and how to decide if you would benefit from refinancing your mortgage. Did you know most mortgages are originated by online, non depository lenders?
Calls talked about home equity loans, reverse mortgages, and cash out mortgages.
Jun 11 2019
Rank #2: Money Talks: House Shopping
Jun 12 2018
Rank #3: Social Security
Aug 23 2017
Rank #4: Relationships & Money
Jun 08 2017
Rank #5: Money Talks: 50 Good Personal Finance Habits
We've got personal finance habits everyone should follow to work toward good financial health
This broadcast goes through a list from Time, online, that has 50 Personal Finance Habits Everyone Should Follow http://time.com/money/collection-post/4023439/personal-finance-habits/ Our hosts discuss some of them and their importance.
Previous broadcasts discussing persoanl finance habits:
Aug 07 2018
Rank #6: Money Talks: Budgets
We used as our guide for today's show: How to Choose the Right Budget System from Nerd Wallet https://www.nerdwallet.com/blog/finance/how-to-build-a-budget/
Examples of 4 types of budgets systems are THE 50/30/20 BUDGET, THE ENVELOPE SYSTEM, PAY YOURSELF FIRST, and THE ZERO-BASED BUDGET
· Automate your savings as much as possible so the money you’ve allocated for a specific purpose gets there with minimal effort on your part. An accountability partner or online support group can help, so that you’re held accountable for choices that blow the budget.
· Revisit your budget as needed. Your income, expenses and priorities will change over time. Adjust your budget accordingly, but always have one.
Sep 17 2019
Rank #7: Money Talks: Open Topic and Clothes Buying Tips
This was an Open Topic day with a few tips to help your clothing budget.
- Roth IRAs for tuition payments
- IRA contribution caps
- Saving for retirement vs cash in the bank
- 403B and Lifestyle accounts
- Banking interest rates
- IRA withdrawals and charity contributions
- Medicare plans
Clothing buying tips:
- Shop off season but NOT in April or October
- Items may go on sale after 6 weeks in the store
- Shop thrift stores
- Be careful at outlet stores - factory line: made for outlet sales NOT regular merchandise
- Treat clothing shopping like grocery shopping - make a list
- When shopping online "abandon" your cart. The site may send you a discount code to get you to come back and make a purchase
- Avoid dry-clean only clothes to save money
- Take care of your clothing so they last longer
- Buy classic clothes they stay in style
- Pay in cash and ask for a discount
- Learn the price codes: https://lifehacker.com/know-the-secret-price-codes-at-major-retailers-to-save-921445013
Apr 02 2019
Rank #8: Money Talks: Ways To Save $1,000
Dec 18 2018
Rank #9: Money Talks: Holiday Debt
We’ve gathered together some tips from various articles to discuss Holiday Spending today.
Listen to our experts from New Perspectives https://www.newper.com/ thoughts on these tips:
Stick to your budget:
- Plan how much you’ll spend on gifts, food, drink, and decorations
- Allocate a dollar amount of what you want to spent and who you will shop for. Tally up what you’ve already spent so far if you shop through the year and be aware of what you already bought and what you’ve already spent.
- Make a list of who you need to buy for and what you want to buy. If you’re not sure who will be attending the family dinner, call and ask the hosts or look back at last year’s pictures. Knowing who to buy for will help you avoid buying “stuff” just in case you missed someone.
- Holiday debt can linger for months, straining your household budget and even limiting your ability to save for retirement and other goals
- While planning this year's holidays, start thinking about how you'll save money next year.
How to pay for your gifts:
- Use Cash: it can help you control and understand your spending limits.
- If you want to use a credit card use only one credit card. If you have several, choose the credit card with the lowest interest rate and leave all the others at home. Using only one card also makes it easier to keep track of what you’ve spent. Once you’ve bought for someone, cross them off your list so that you don’t keep buying.
- Avoid signing up for store credit cards: You’re ready to pay – and just as you reach into your wallet the cashier says “would you like to sign up for our store credit card and get an extra 10 percent off?” They’ll offer you 10 percent off that day but charge you 4 percent every other day that you don’t pay the balance.
- Don’t buy gifts for yourself: Twenty-two percent of Americans buy gifts for themselves when they are shopping for others.
- To build your holiday budget, trim discretionary expenses over the next couple of months. Cut back on dining out or going to the movies, or temporarily cancel a couple of monthly subscription services.
- Sneak into the Mall - Avoid Busy Times and Impulse Shopping. Pick off-peak times to actually do your shopping. Hitting the stores during the day might save you some time and help you avoid impulse shopping.
- Eat before you go and take a bottle of water along. This will help you from spending extra money.
- Shop online to avoid spontaneous purchases - Buy as many gifts as possible online to avoid the temptation of picking up extra bits in the shops. Retailers are dab hands at enticing shoppers with beautiful Christmas displays.
- Start buying presents now - You still have two (possibly three) pay checks to go until Christmas so start your present-buying now if you can. Buying just one or two gifts this month will take the pressure off mentally and financially. Panic buying is the easiest way to blow the budget!
- Black Friday and Cyber Monday can offer big savings, but you might find better deals at other times. Start checking prices now so you know what's a good deal — and what to skip.
- Being frugal with holiday meal shopping can go far. Let go of some food traditions and focus on what your eaters like. You’ll have less food waste and less money waste.
What to buy:
- Kids - One or two favorite toys is better than a mountain of toys and is less expensive. By buying something they can do or play with right away, they don’t think about how much or how little they got – they’re too busy enjoying their time playing with what they have!
- Spouse - Consider not exchanging expensive gifts with your spouse. Buy a game that the whole family can play together, a DVD for family movie night, and some treats that will become part of what you serve when guests or family stop by.
- Think Free: Save Money With Homemade Gifts. Look at your shopping list and decide if you really need to buy for everyone on the list. You still have time to make some personalized gift certificates for those who would value your time, company or help over a store-bought item. Think about babysitting for new parents, helping an older aunt or uncle around their home, or taking a grandparent out for a drive followed by dinner at your house. Homemade gifts can save money, but they also come from the heart which can put a real twinkle in someone’s eyes.
- Do Secret Santa with family/friends - If you usually buy for all your family and friends, talk to them now about doing Secret Santa. Explain that you’re trying to keep your spending under control this year and that you’d rather buy one person a slightly more expensive present.
Oct 08 2019
Rank #10: Money Talks: Financial Goals
Our hosts are Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute. https://www.newper.com/
FINRA: the Financial Industry Regulatory Authority suggests how to approach setting your goals. https://www.finra.org/investors/personal-finance/set-your-financial-goals
College Savings Calculator: https://tools.finra.org/college_savings/
Retirement Calculator: https://tools.finra.org/retirement_calculator/
Sep 10 2019
Rank #11: Money Talks: Millennial Money Advice
Nov 06 2018
Rank #12: Money Talks: Time for a Financial Check Up?
To start your year, we want to help you take a look at your financial status. How do you compare to other Americans? What are your goals for improving?
Here's a Make a Budget Wooksheet from https://www.consumer.gov/content/make-budget-worksheet
Jan 15 2019
Rank #13: Money Talks: Retirement Mistakes
Jul 11 2018
Rank #14: Money Talks: Stocks
How should an investor evaluate a stock? Our financial advisers give some tips and take personal finance questions on the show.
Our experts are Dr Nancy Lottridge Anderson, President of New Perspectives and Ryder Taff, Portfolio Manager at New Perspectives. https://www.newper.com/
Seven things an investor should consider when picking stocks:
- Earnings growth
- Relative strength in industry
- Debt-equity ratio
- Price-earnings ratio
Apr 16 2019
Rank #15: The Do's and Don’ts of Car Buying
Dec 14 2016
Rank #16: Money Talks: How Much Car Can You Afford?
Guest Roddy Merritt gives us inside information on financing a car purchase, cautions us on buying too much vehicle; relays the benefits of a Certified PreOwned car.
Roddy produces a car buying podcast: The Smart Car Buyer https://itunes.apple.com/us/podcast/the-smart-car-buyer/id1449100874?mt=2&ign-mpt=uo%3D4 for Apple and for Google Podcasts https://www.google.com/podcasts?feed=aHR0cHM6Ly9hbmNob3IuZm0vcy84NjY0MDc0L3BvZGNhc3QvcnNz Roddy aslo has a YouTube Channel: https://www.youtube.com/channel/UCE1rg1w3QdMLnosCx-pl5sQ/featured
A helpful website: https://www.edmunds.com/car-buying/
Roddy Merritt was a recent guest on MPB's Auto Correct where he spoke about choosing a car to purchase http://www.mpbonline.org/blogs/auto-correct/auto-correct-choosing-a-ride/
Mar 05 2019
Rank #17: Money Talks: Can You Catch Up Your Retirement Savings?
If you haven't been saving enough for retirement, this show has some ideas to help you catch up. Ryder Taff from New Perspectives http://newper.com and host Java Chatman discuss ways to build up your retirement savings.
Retirment Savings (how much do you need) = Time (how long to you have to contribute) x Risk (how aggressive can you afford to be) x Amount (how much can you put in each month)
Tax questions? Look on the IRS's website http://irs.gov
Jan 22 2019
Rank #18: What To Do When You've Been Audited
Apr 26 2017
Rank #19: Money Talks: Student Loans
Our guest, Matt Ribe from the National Foundation for Credit Counseling, talks about Student Loans. This show will benefit those with debt, those who have family with debt, those who might marry someone with debt, and anyone with kids who may incur debt in the future.
National Foundation for Credit Couseling https://www.nfcc.org/
Special NFCC website for Student Loans https://www.studentloanhelp.org/
Chartered Financial Analysts: https://www.cfainstitute.org/
Aug 28 2018
Rank #20: Money Talks: Transferring Cash
Factors to take into consideration when deciding to give someone money:
· Fees, Speed, Sending amount, Where the recipient is located, Security, access to actual cash
1. Cash – easiest and most obvious.
a. About 3 in 10 Americans said they make no purchases with cash in a typical week.
b. In a survey of more than 2,000 Americans, U.S. Bank found that 50 percent of respondents said they carry cash with them less than half of the time they are out.
c. More than 1 in 10 millennials use their digital wallet for every purchase.
d. Adults with an annual household income of over $75,000 were more than twice as likely as those making less than $30,000 to say they do not make any purchases using cash in a typical week.
2. Bank Transfer Banks electronically transfer money via ACH. Although some charge fees for a bank transfer, many banks let you transfer money for free to other accounts. Sending a wire transfer through your bank might be the best way to send a large amount quickly. Generally $2,000 to $10,000 per transfer, and delivery can take multiple days.
3. Online Bill Payment Although online bill payment is geared toward recurring payments, like monthly utility bills, it also works for one-time payments. Your bank will outline how to send money through its online bill payment system; the process typically involves logging onto the bank website, filling out the amount of money you wish to send and the recipient’s information, and authorizing the payment to be mailed out or transferred electronically.
Transfers from banks to banks:
4. Zelle Account holders at banks that are part of the clearXchange network can take advantage of the new Zelle app, which allows you to to securely send money to others by using your bank’s mobile app. With Zelle, users just need a mobile phone number or an email address to send money to their intended recipient. No account information is shared when you send money; the program will only use your email or mobile phone number to send or receive money to or from your bank account.
5. Popmoney Popmoney offers one of the easiest ways to send money via mobile devices or email if you have an account at a participating bank. You can send money for free if a Popmoney user sends you a request. Otherwise, it’s only 95 cents if you initiate the transfer.
6. Walmart-2-Walmart: Walmart is cheaper than traditional money transfer companies, such as Western Union and MoneyGram. You can send to one of the thousands of U.S. Walmart stores, where a recipient can pick up the money within minutes. The maximum you can send is $2,500, and costs can reach up to $16.
7. Person to Person apps - limit how much you can transfer. Examples are Square cash, Venmo – owned by PayPal, Facebook Messenger, Google Wallet, Dwolla
8. International money transfers options: When you make a transfer abroad, you generally encounter two costs: the upfront fee and the foreign exchange margin, or the markup on the exchange rate financial institutions use when transferring money among themselves. Consider both fees to find the best deal.
a. TransferWise or OFX for free services
b. Xoom, a PayPal division and MoneyGram are fast options
c. Western Union The biggest money transfer company worldwide, Western Union also has a sizable range of transfer options. On the provider’s price estimator tool online, you’ll see almost a dozen combinations of sending channels, payment methods and delivery options. You can send money from the Western Union website or its mobile app, and you can use a bank account, debit card or credit card — or send from a nearby agent location using cash. The transfer giant’s physical network covers over 200 countries and territories and more than half a million locations globally.
Jul 09 2019