Reduce Debt Increase Wealth

Reduce Debt Increase Wealth

Debt reduction to achieve financial freedom takes commitment, confidence, determination.

Episodes

November 28, 2021 30 min

Planning is an ongoing process that must be review and updated every year. It only takes a few minutes to do this but is important as things may have change over time.

Article Links:

https://www.nerdwallet.com/article/investing/what-is-a-financial-plan By Kevin Voigt, Alana Benson

 The 5 Times When You Should Review Your Financial Plan | Kiplinger by: Eric Roberge, Certified Financial Planner (CFP) and Investment Adviser

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Once the budget is set and perfected than it can be used to plan for a new loan, retirement, investing or saving for that new home, wedding, child or automobile.

Article Links:

 A Better Way to Budget: The Fiscal Fitness Plan Ahead Method (fiscalfitnessphx.com)

All episodes are now on Facebook  go to ReduceDebtIncreaseWealth.com in Facebook and look to the podcast tab.

 

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November 14, 2021 31 min

Should you use a Home Equity line of credit HELOC what are the benefits and disadvantages. Maybe an Equity loan is a better way to improve the home. Personal loan line of credit is another option maybe but will cost more interest.  

 Article Links: 

 https://learn.financestrategists.com/finance-terms/loc/equity-line-of-credit/ by True Tamplin, BSc, CEPF®

 https://www.experian.com/blogs/ask-experian/best-and-worst-ways-to-use-heloc/  b...

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November 7, 2021 26 min

The FIRE movement is strong with the younger generation wanting to retire early. Maybe at age 35 to 40 is this possible and how is it done. Then what will a person do in retirement, most likely work of some kind.

 Article Links:
 https://www.playingwithfire.co/whatisfire 

https://www.businessinsider.com/personal-finance/why-ditched-traditional-fire-movement-2021-6 By Michelle Jackson

All episodes are now on Facebook  go to ReduceDebtIn...

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October 31, 2021 28 min

What to buy that first home or move up into another home? The first thing you need to do is save up a down payment. But that still not enough, so MisterChuck expands on things to do to get into that home.

 Article Links:

 https://www.rocketmortgage.com/learn/how-to-save-for-a-house By PATRICK CHISM

 https://time.com/nextadvisor/banking/savings/how-to-save-for-a-house/ By Kendall Little,Raina He

All episodes are now on Facebook  go to R...

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October 24, 2021 27 min

Having credit is good but having too much debt can be bad. How to manage credit so you do not have to manage debt.  

 Article Links:

 https://pocketsense.com/advantages-disadvantages-consumer-credit-8063.html By Cam Merritt

 https://www.nerdwallet.com/article/credit-cards/credit-card-tips-everyone-should-know  By Lindsay Konsko

 https://www.marketplacefairness.org/blog/personal-finance-statistics/

 https://mint.intuit.com/blog/financial...

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October 17, 2021 29 min

How to increase your net worth, investing into stock for the long term is one way. The other is to reduce your debt. Doing both at the same time may increase your net worth faster. This episode is the basic on investing in stocks and the benefits.

Article Links:

https://www.investopedia.com/articles/basics/06/invest1000.asp By Chad Langager

https://www.investor.gov/introduction-investing/investing-basics/investment-products/stocks

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October 10, 2021 32 min

What are budget categories, and the percentages should be when determining how much to spend. MisterChuck goes over this information and much more.

Article Links:

 https://www.chime.com/blog/recommended-budget-category-percentages/ By Chonce Maddox

https://www.credit.com/blog/12-top-budget-categories-you-need-in-your-plan/

All episodes are now on Facebook  go to ReduceDebtIncreaseWealth.com in Facebook and look to the podcast tab.

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October 3, 2021 31 min

What does it take to reduce debt? MisterChuck goes over the method to get debt under control and over time get out of debt.

Articles Links: No articles used 

All episodes are now on Facebook  go to ReduceDebtIncreaseWealth.com in Facebook and look to the podcast tab.

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September 26, 2021 32 min

How to avoid using debt relief programs and determine what was the cause of getting too much debt. Before using any debt relief program you must understand why your debt is a problem. MisterChuck talks about these plus other things people do that are personal finance mistakes.

 Articles Links:
https://www.bankrate.com/uk/current-accounts/personal-finance-mistakes/ By Marianne Curphey

https://www.forbes.com/advisor/personal-finance/tip...

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September 19, 2021 22 min

Christmas is not far off, now the time to set aside money for your Christmas shopping.

 Article Links:

 https://www.moneycrashers.com/create-holiday-budget/ By Amy Livingston

All episodes are now on Facebook  go to ReduceDebtIncreaseWealth.com in Facebook and look to the podcast tab.

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September 12, 2021 26 min

When your income is too low the need for a new job is required. What are the job interview questions and how to handle is covered in the episode.

 Article Links:

https://www.indeed.com/career-advice/interviewing/top-interview-questions-and-answers By: Indeed Editorial Team

https://www.themuse.com/advice/51-interview-questions-you-should-be-asking  By The Muse Editor

All episodes are now on Facebook  go to ReduceDebtIncreaseWealth.com i...

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September 5, 2021 27 min

What to know before investing in the stock market, the basics that are important.
 
1.Assets Classes
2.Diversification

Article Links:

https://corporatefinanceinstitute.com/resources/knowledge/trading-investing/asset-class/ 

https://www.nerdwallet.com/article/investing/diversification By Tiffany Lam-Balfour, James Royal, Ph.D., Elizabeth Ayoola

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August 29, 2021 33 min

Spending habits some are good, but most are bad. Mister Chuck discuss this topic and how to break these bad habits.
A. Good Habits
B. Avoiding Bad habits
Article Links:
 https://www.mentalfloss.com/article/532663/9-good-money-habits-you-can-form

https://www.developgoodhabits.com/good-financial-habits/

https://www.frugalconfessions.com/spend-less/list-of-spending-habits/ By Amanda L Grossman

Support the show (https://secure.countabout.com/...

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August 22, 2021 24 min

If you are self-employed or thinking about starting your own business here how you should do a budget. Included are the percentages for each category to consider when reviewing your monthly budget.

Article Links:

https://www.gobankingrates.com/saving-money/budgeting/recommended-budget-percentages/ By Kathy Evans

https://www.thebalance.com/how-to-figure-out-budget-percentages-for-money-goals-4171689 BY REBECCA LAKE

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August 15, 2021 26 min

What is personal finance? Why personal finance is important, and how does it affect everyone's  life. This episode Mister Chuck goes over the basic things that personal finance includes.


Article Links:
 https://www.investopedia.com/terms/p/personalfinance.asp By WILL KENTON

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August 8, 2021 27 min

Budgeting is not all that hard; it is easy after understanding the basic concept. It is a plan for your money nothing else. Failing to plan is planning to fail.
Budget Categories
1.Housing
2.Transportation
3.Food & Dinning
4.Entertainment
5.Cloths
6.Savings
Article Links:

https://mint.intuit.com/blog/budgeting/tips/

 https://bethebudget.com/budgeting-tips/

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August 1, 2021 22 min

A plan is needed to reduce debt. No matter how much is owed or the number of credit cards or loans. A plan will help organize all debt and determine the order of payment.

 1.Create Budget
2.List All Debt
3.Stop Creating New Debt
4.Put money into Emergency Fund (Saving Account)
Article Links:
https://www.investopedia.com/best-debt-reduction-software-4844305 By HOLLY JOHNSON

https://dfi.wa.gov/documents/financial-education/budgeting/debt-re...

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July 25, 2021 27 min

A simple approach to getting a financial plan in place. Financial plan will help track goals, set spending limits and get an emergency fund into place. Financial plan help identify your short comings with finances and directs movement to a better place. 

Article Links:

https://www.schwab.com/resource-center/insights/content/10-steps-to-diy-financial-plan By Carrie Schwab-Pomerantz

https://savology.com/6-benefits-of-financial-planning ...

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July 18, 2021 26 min

Types of bankruptcy and what the requirements may be to file and get bankruptcy relief. Note I am not an attorney, and this is not legal advice

.Articles Links:

https://www.credit.com/debt/filing-for-bankruptcy-difference-between-chapters-7-11-13/ by Gerri Detweiler

https://www.creditkarma.com/advice/i/chapter-7-bankruptcy-means-test By Lance Cothern, CPA

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