JW’s Financial Coaching Podcast JW’s Financial Coaching Podcast-A show devoted to answering your personal financial questions and covering current events in personal finance. Giving people a new perspective on their money!

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Highlights of today's show:

  • Remember the "Why" behind your financial decisions
  • The five mentalities that hold us back financially
  • Hard to break out of these mentalities, but beneficial
  • JWFinancialCoaching.com being launched on August 1st
  • Still time to take advantage of the eBook promotion in the month of July

When it comes to making changes in your finances, one of the leading indicators of whether or not you will follow through with change is the attitude that you have. Having coached individuals and couples before, I have discovered 5 main mentalities that hold us back financially. They are:

  1. I'll do it when . . .
  2. I don't have the time
  3. Making money is wrong
  4. I'll never be able to change
  5. I'm doing OK financially

Today we share why each one of these mentalities can be harmful to our finances.

You can subscribe to future Podcasts through FeedburnerStitcher SmartRadio, or iTunes. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page. In addition, if you have enjoyed the show for a while now, please leave a review of the podcast on iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes. Big thanks to my friend Glen Steinson for helping me create the video.

If you have any comments, questions, or ideas for future shows you can send them to me and I will integrate them into a future show. There are two ways to get in touch with me:

1.) Email me at JWFinancialcoaching@gmail.com - Please put “podcast” in the subject line and keep your questions brief so they are readable on air.

2.) Simply fill out the form on the contact page. Please fill out your name, email, where you are from, the subject line, and your question/comment/suggestion and we will read it on air.

You can find prior editions of the podcast at the podcast archive page

July 22, 2012  
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Highlights of today's show:

  • How much does it cost to raise children?
  • What my wife and I have learned in year one of raising a baby
  • You can spend a lot of money very quickly on babies if you aren't careful
  • Babies do change your budget but don't have to cost an arm and a leg
  • The all new JWFinancialCoaching.com blog to debut August 1

I posted last Friday on a USDA annual report that found it will cost about $300,000 to raise a child born in 2011 from birth to the age of 18. While I am a little skeptical about that number, today I share what my wife and I have learned about the financial costs of having a newborn.

We have learned a lot in our year about what to buy in terms of clothes, food, diapers and other necessities, both in the quantity needed and also where to get the best deals. Babies do add to the budget, but they don't have to cost an arm and a leg either. As long as you know where your money is going each month and have a plan, the transition should not be painful.

Finally, just a reminder that if you purchase The Major Components of a Healthy Financial Plan eBook in July you are eligible to receive $50 off any coaching package that I offer.

You can subscribe to future Podcasts through FeedburnerStitcher SmartRadio, or iTunes. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page. In addition, if you have enjoyed the show for a while now, please leave a review of the podcast on iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes. Big thanks to my friend Glen Steinson for helping me create the video.

If you have any comments, questions, or ideas for future shows you can send them to me and I will integrate them into a future show. Email me at JWFinancialcoaching@gmail.com - Please put “podcast” in the subject line and keep your questions brief so they are readable on air.

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Matthew and Tanya join us on today’s show to share how they paid off $130,000 in debt in just 36 months. All of their debt was on the mortgage. Matthew got the idea to pay off the mortgage when he saw an amortization schedule in one of his engineer classes. He saw how much interest he would be paying over the 30 year term and realized he could pay off his debt a whole lot sooner.

Tanya was on board right away and together they developed a plan to pay off their mortgage. One of the toughest things they had to do was change their spending habits. Another key was to keep their lifestyle the same throughout and put any money they got through raises onto the mortgage.

Remembering how much they valued having a paid off mortgage kept them on track throughout the whole three years. With a baby on the way this fall, they are stockpiling cash and enjoying the security that not having a mortgage brings.

“What any budget does for you is help drive the correct behavior.” ~ Matthew

You can subscribe to the Debt Free Living Podcast either through Feedburner, iTunes, or Stitcher SmartRadio! The podcast can be found in iTunes under the JW's Financial Coaching Podcast. If you subscribe you will receive both the JW's Financial Coaching Podcast on Mondays and the Debt Free Living Podcast on Thursdays.

If you enjoyed this episode, please leave a review in iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes. Big thanks to my friend Glen Steinson for helping me create the video.

If you would like to take the steps necessary to start living debt free, I would love to be a part of your journey. Here's how I can help.

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Highlights of today's show:

  • Why comparing others' situations to ours is not productive
  • What are financial windfalls?
  • We can get anxious when getting a large sum of money
  • Our first thought is to spend, spend, spend
  • Also need to do other things besides spending

Ever receive a large sum of money that was unexpected? Maybe an inheritance, a bonus at work, or even an insurance settlement.  It's funny; I've seen it time and time again where we have a plan with our money and we know where it is going each month. But when we get a financial windfall we get anxious and feel we have to spend it on things immediately. In the end  we have nothing to show for it.

Today on the show we discuss what to do with a financial windfall. It is important to enjoy your money and spend it on things you want, but it is also important for you to have a plan with it and do other things with the money such as give, invest, and save for your future. Spending $10,000 in a few months might feel good in the moment, but if you instead save some of that money as well, over time that investment can become the gift that keeps on giving.

Overall, it's important to be balanced in what you do with a financial windfall and have a plan with your money, just like any other money you would earn monthly. Because if you don't, often times it will all be gone and you will have wondered where it all went.

You can subscribe to future Podcasts through FeedburnerStitcher SmartRadio, or iTunes. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page. In addition, if you have enjoyed the show for a while now, please leave a review of the podcast on iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes. Big thanks to my friend Glen Steinson for helping me create the video.

If you have any comments, questions, or ideas for future shows you can send them to me and I will integrate them into a future show. Email me at JWFinancialcoaching@gmail.com - Please put “podcast” in the subject line and keep your questions brief so they are readable on air.

July 8, 2012  
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Highlights of today's show:

  • Answering a question I received from a listener on Facebook
  • What are the four walls?
  • Where does savings come into play?
  • Why it is important to budget your basics first?
  • What we learned when the power was out in Central Ohio

I often talk a lot on the podcast of protecting your four walls when doing your budget. What are the four walls? Today I answer a question sent in from Facebook clarifying what is included in the four walls and where savings comes into play as well.

The four walls are the first things that you include in your monthly budget. Before you do anything with money, you will take care of your basic food, shelter, transportation, and clothing. We call these the four walls because if the only thing you can do with money is those four things, you will be fine.

But where does savings fit into all this? It's a good question with no clear cut answer. I have done a podcast before on saving money. We start to save money at different stages. Saving money for emergencies is one of the first goals. However, saving for long term purchases comes only after you have paid off your debt and have your emergency fund fully funded.

You can now find the podcast on Stitcher SmartRadio! Stitcher allows you to listen to your favorite shows directly from your iPhone, Android Phone, Kindle Fire and beyond. So if you have a smart phone and want to stream the podcast from your phone, please download the app from their website.

You can subscribe to future Podcasts either through Feedburner or iTunes. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page. In addition, if you have enjoyed the show for a while now, please leave a review of the podcast on iTunes. For a step by step video of how that works please watch this video on how to leave a review in iTunes. Big thanks to my friend Glen Steinson for helping me create the video.

If you have any comments, questions, or ideas for future shows you can send them to me and I will integrate them into a future show. Email me at JWFinancialcoaching@gmail.com - Please put “podcast” in the subject line and keep your questions brief so they are readable on air.

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Stephon Fuller from StephonFuller.blogspot.com join us on today’s show to share how he paid off $15K in consumer debt in 18 months. Stephon got into debt by just trying to live month to month. However, he was living like most people: without a plan. He got the motivation to pay off his debt when he first put all of his financial info into Quicken. He was quite surprised to see where all his money was going so he sought out help from books, the radio, and podcasts.

One of the main things Stephon learned about himself was that he could become debt free without getting a big acting job or winning the lottery. Before getting out of debt, he never thought he could ever become debt free. Stephon was able to stay motivated for 18 months by focusing on the end result.

Stephon currently is an actor living in L.A. He started getting into acting when he lived in Virginia in 1993. One of the things people might not know about acting, according to Stephon, is that acting is a real profession and not just putting on make-up and having muscles. Stephon shares all his auditions on his blog stephonfuller.blogspot.com. He started writing about them in 2001 and they go all the way back to 1993. You can also find more information on his past work at his site StephonFuller.com.

"I’d say unless you’re going to go completely underground you’re going to have a relationship with money...you might as well make it a good one." ~ Stephon Fuller

You can subscribe to the Debt Free Living Podcast either through Feedburner, iTunes, or Stitcher SmartRadio! The podcast can be found in iTunes under the JW's Financial Coaching Podcast. If you subscribe you will receive both the JW's Financial Coaching Podcast on Mondays and the Debt Free Living Podcast on Thursdays.

If you enjoyed this episode, please leave a review in iTunes. For a step by step video of how that works please watch this video on how to leave a review in iTunes. Big thanks to my friend Glen Steinson for helping me create the video.

If you would like to take the steps necessary to start living debt free, I would love to be a part of your journey. Here's how I can help.

July 1, 2012  
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Highlights of today's show:

  • Good to be back doing a normal show
  • Busy month for the blog and podcast in June
  • 2012 is halfway over, but you still have six months to reach your goals
  • This podcast is not about saving the money only to hoard it
  • Money is a way to do what is most important to you

After having guests on the last five shows, today I fly solo. June was a busy month for the podcast and blog. We had "Author Month" on the podcast, introduced a new coaching package for recent college graduates, and released our first eBook The Major Components of a Healthy Financial Plan. Thanks to all of you who visited the site in June!

Today I discuss for all of the new listeners why I do the podcast and why I am so passionate about handling your money well. It's not to accumulate the most money or see who can buy the nicest things. Rather, it is a part of a well-balanced life that includes faith, family, and career, among other attributes. Unfortunately, I have seen how not having control of your money can have a negative impact on the areas of your life that are most important to you.

Overall, money is important but not the most important thing in my life. For myself, my faith, family, and career all come above money. But handling our money well allows us to enjoy those areas of life without having the stress of money added to it.

You can now find the podcast on Stitcher SmartRadio! Stitcher allows you to listen to your favorite shows directly from your iPhone, Android Phone, Kindle Fire and beyond. So if you have a smart phone and want to stream the podcast from your phone, please download the app from their website.

You can subscribe to future Podcasts either through Feedburner or iTunes. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page. In addition, if you have enjoyed the show for a while now, please leave a review of the podcast on iTunes. For a step by step video of how that works please watch this video on how to leave a review in iTunes. Big thanks to my friend Glen Steinson for helping me create the video.

If you have any comments, questions, or ideas for future shows you can send them to me and I will integrate them into a future show. Email me at JWFinancialcoaching@gmail.com - Please put “podcast” in the subject line and keep your questions brief so they are readable on air.