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!

September 22, 2013  
00:0000:00

Highlights of today's show:


        
  • How to handle the finances when you get your first big job
  • Why it's important to clear your debt early
  • What do you do when you get a promotion?
  • How to avoid lifestyle inflation
  • Our next Google Hangout


Getting your big job is really exciting. It's a transition from your childhood to being an adult. I remember the first time I got my paycheck from my real job. I was used to getting $100 a week checks working part time jobs in college so when I got my first paycheck after working two weeks I thought I was rich!

It is also exciting because it is nice to have options with what you want to do with your money. It is totally different from a job in high school or college where you are just earning money to spend on the weekends.

With that being said you can get into either some good or bad habits with money when you get your first big job. That is why it is so important to develop good habits while you are young. Today we continue with the "Life and Money" series by discussing in detail the four good habits you need to develop with money when you get your first big job. They are:


        
  1. Finding out where you stand financially-This is includes knowing how much assets you have, how much debt you have, as well as how much you will be making each month.

  2.     

  3. Make a commitment to get out of debt-There's a good chance that if you went to college you have credit card, auto loan, or student loan debt. After determining how much you owe it can be overwhelming and you might feel like you will never be able to get out. But you have to start somewhere and remember your financial situation is not always statis. It can change but it all starts with you.

  4.     

  5. Live within your means-This might mean you might not to get to live your ideal lifestyle such as living in the particular area of town, not being able to go out with your friends as much, or still driving your old car for a bit longer. But it does mean not stretching yourself too thin and allowing you options to do what you want to do later.

  6.     

  7. Build wealth; not debt-Ultimately saving, but not overspending, will allow you to build wealth.


If you just graduated college and are looking for help on how to do a budget, pay off your student loan, and put yourself into position to prosper please check out the "You just graduated from college. . . now what?" Coaching package

In addition we also discuss what to do when you get the big promotion at work. Topics discussed include:


        
  1. Staying with your plan

  2.     

  3. Re-evaluate your budget

  4.     

  5. Avoid the lifestyle inflation trap

  6.     

  7. Realizing your long term goals might change

  8.     

  9. Don't rush a decision

  10.     

  11. Continue to work hard


Finally we also want to announce that the next Google Hangout will be on Thursday October 4th at 9pm EST. Our topic will be on credit and debit cards. Look for more details in the coming weeks and please plan on joining us.

You can subscribe to future podcasts through Feedburner, Stitcher 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.

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, 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.

September 20, 2013  
00:0000:00
Highlights of today's show:
  • Moving is a major life event
  • How moving out of our house went
  • The financial surprises you incur while moving
  • How we did on our budget when moving
  • The three things Lisa and I learned about moving

  • My wife Lisa joins me on the show to continue with the "Life and Money" series by wrapping up the series we have done on moving. After spending four months getting our house ready to put on the market, listing it with a real estate agent, negotiating an offer, buying a new house, moving our stuff into storage, and finally moving into our new home, we are all settled in. Lisa and I talk about how the closing on our condo went, how moving impacted our finances, why you need to have a huge miscellaneous fund when moving, and the three things we learned overall about this whole process.

    Make no mistake, when you have a family and have lived in one place for a while, moving your family is a major life event. The three main takeaways we had from this whole experience were as follows:
  • Really be prepared financially to buy a home
  • Be flexible throughout the process
  • Moving is a major life event
  • Lisa and I break down each one of these further during the show. In addition, I am also writing a book sharing our experience that I will be releasing soon. Stay tuned for further information when a release date is finalized.

    I want to also thank my wife for being on the show these past few months and getting her perspective on everything. You can download past lessons with Lisa talking about our experience below:
    You can subscribe to future podcasts through Feedburner, Stitcher 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.

    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, 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.
    September 8, 2013  
    00:0000:00

    Highlights of today's show:


          
    • Giving is one of the three things we do with money

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    • What giving allows you to do

    •     

    • When did we start having to get to give?

    •     

    • What sacrificial giving is

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    • When is the last time you gave sacrificially?


    Today's show is one I came up with off the top of my mind. I have been thinking about the topic of giving lately and I have noticed how we always have to "get" something now when we give. My question is: when did this happen? I also discuss why I feel this can potentially be dangerous.

    Now that I have shared my thoughts what are yours? Please leave your thoughts in the comment section below.



    If you missed it last week, you can catch a replay of the Google Plus Hangout I did with my friend Steve Stewart. Steve and I talked for an hour on various topics related to debt and living a debt free lifestyle in addition to answering your questions. We hope to do more of these in the future so stay tuned for an announcement for upcoming hangouts.

    I also have special news for those listeners who have an iPhone. The JW's Financial Coaching app is now available to download. The app allows you to choose a lesson, view its show notes and listen to the show, all right from your iPhone without having to browse the web.

    You can subscribe to future podcasts through Feedburner, Stitcher 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.

    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, 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.

    September 2, 2013  
    00:0000:00

    Highlights of today's show:


          
    • Life and Money series
    • How do your finances change when you become an empty nester?
    • How to re-evaluate your goals
    • Is downsizing right for you?
    • How to make sure that you stay an empty nester

    The "Life and Money" series continues by discussing your finances when you become an empty nester. The definition of an empty nester is a parent whose children have grown and moved away from home. Being an empty nester is an interesting life stage as you are shifting from raising and spending money on your child, to having more time and money available for yourself.

    Today we discuss in detail three things you need to decide when you are an empty nester


          
    1. What are your goals for the next 5-10 years

    2.     

    3. When/if you should downsize

    4.     

    5. How much you are going to help your child when they are out of the house


    In addition we also discuss how to stay an empty nester. With 3 out of 10 children moving back home with their parents after college, it's important to discuss that option with your child before it actually occurs. That way both sides will know what is expected of each during that time and you can lay out some ground rules on how long the arrangement will last.

    Finally, I have a special announcement for all of you podcast listeners. My pal and frequent guest on the show Steve Stewart and I are doing a Google Plus hangout on Tuesday September 4th at 9pm EST. The topic will be on debt avoidance and the power of debt freedom. We will also be answering your questions on the topic. We hope to see you there.

    I also have special news for those listeners who have an iPhone. The JW's Financial Coaching app is now available to download. The app allows you to choose a lesson, view its show notes and listen to the show, all right from your iPhone without having to browse the web.

    You can subscribe to future podcasts through Feedburner, Stitcher 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.

    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, 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.