PODCAST: The Importance of the “Money Chat” with Jennifer Duffee featuring Yours Truly

 

This is very exciting news!! I was just interviewed on my very first Podcast EVER!! Last month I had the privilege of meeting the lovely and talented Jennifer Duffee. Jennifer is a Business and Lifestyle Coach based in the UK. We met last month and she is taking her business to a new level and started a Podcast! She asked me if I would come and speak to her people on the topic of, well, money. We had a lovely chat. It is HERE and I would love if you would listen and let me know what you think by leaving your thoughts in the comment section!!

One more ask, if you liked it, please leave a comment and share it with friends!

You can also check out Jennifer HERE!

Have an amazing day!

When it comes to being smart about money- YOU’VE GOT THIS!!

xoxox,

Karen & Bill

Car payments be gone!! Pay cash for your car.

Hello Smart Money People,

Let’s talk CARS. What is a car? I googled it to see what the internet would offer as a definition and here is what I found:

  • A vehicle moving on wheels (merriam-webster.com)
  • A road vehicle, typically with four wheels, powered by an internal combustion engine and able to carry a small number of people (en.oxforddictionaries.com)
  • An automobile (dictionary.com)

Let’s talk money. According to an article on thebalance.com in 2015, 85.9% of new cars were financed through a loan. The average monthly car payment in 2017 was a whooping $479. Actually, I know a guy that has a $700 car loan. That is literally RENT, but I digress. For a car payment that is frighteningly high, Experian reports the average term of a new car loan is 68 months and the average amount financed is $30,032, see the article from Forbes.com HERE. Yet the average American, 57%, have less than $1,000 in savings. Read more about how Americans are saving in this article.

So, what is it with CARS, people?

Continue reading “Car payments be gone!! Pay cash for your car.”

Taming Holiday Spending with THIS Holiday Budget Worksheet Just For You

Hello Smart Money People,

Today let’s talk about taming holiday spending. It is the most wonderful time of the year AND the craziest when it comes to spending! There are deals to be had. I get it. I am a sucker for a deal. I am a sucker for a lot of things. However, so you don’t feel sucker PUNCHED come January, I encourage you to have a plan. Having a plan safeguards you from making spontaneous decisions that can possibly be NOT good decisions a few hours or weeks later. You know I am a lover of the budget, the holidays are no different. If you want to enjoy the holidays now and later, set a budget and stick to it. Continue reading “Taming Holiday Spending with THIS Holiday Budget Worksheet Just For You”

How to handle money in your 20’s

Hello Smart Money People,

I often get asked what should people focus on regarding money in their 20’s. It is a good question and more people should ask it.

It is a hard question to answer simply because everyone is different, however, as that is not helpful, we can give you suggestions and you apply what is relevant to you.

In my 20’s I focused on nothing but having a good time, buying clothes, taking vacations and EATING OUT as much as possible. I encourage you NOT to do the same. Bill on the other hand, met me in his early 20’s, I am 5 years older than he, total sidebar, but he was, and is, a natural saver. Bill began saving from his first paycheck. He was investing in and saving outside of retirement.

Spoiler Alert: The bottom line is it is all about choices. When you have money in the bank and an emergency fund and no debt, you have CHOICES. When you are tied to a car payment, a house payment, a credit card payment, a job you don’t like because of all of your payments, guess what you don’t have? Choices. Continue reading “How to handle money in your 20’s”

Newly Married! What you should know about combining your finances

 

Congratulations! The wedding is behind you. The centerpieces were perfect. Your weird cousin Al didn’t do anything embarrassing. THANK GOODNESS. Being a newly married couple is A-MA-ZING!

Now that marital bliss is your everyday reality, how do you combine your finances?

Let’s break it down. What you find-ah. What you feel now. What you know-ah. To be real.  Listen here to the Classic Cheryl Lynn’s Got To Be Real. If you are not familiar with the song, it’s about being REAL. Continue reading “Newly Married! What you should know about combining your finances”

One thing you must have is an Emergency Fund

 

Hello Smart Money People,

One of the key elements to peace is knowing that if the ship goes sideways, you have a lifeboat and you’re covered. Enter in the Emergency Fund.

Here are some sayings you may have heard around the proverbial water cooler:

When it rains it pours.

When you thought it couldn’t get any worse?

Up a creek without a paddle.

Misery loves company.

Hope for the best and prepare for the worst.

Well, we’re here to tell you, as the famed basketball coach Bobby Knight said, “The will to succeed is important, but what’s more important is the will to prepare.” Life happens. Tires run over nails, washing machines break with full loads of laundry still in them, AC units die on the hottest day of the year. It happens. What happens next defines how long the emergency will last and if it turns into a crisis.

There aren’t any surprises around the corner on this one. Save $1000 as fast as you can and put it in a savings account that is labeled IN CASE OF AN EMERGENCY.

Let’s define an emergency:

  1. Flat tire: Yes
  2. Power outage/ failure: Indeed
  3. Blocked toilet: a BIG YES
  4. Damaged roof: Unfortunately, yes.
  5. Locked out of house or car: Bummer and Yes
  6. Broken door or window: Ugh, what a pain, holla: Yes
  7. Gas leak: Get out of the house first, and second > Yes
  8. New outfit: No
  9. Dinner with friends: Nope
  10. New toy for the kiddo so they will be quiet in the grocery store: Unfortunately No
  11. A one-time only infomercial deal that expires at midnight (much to my chagrin): No

Continue reading “One thing you must have is an Emergency Fund”