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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The personal finance A-Z series continues with Taxes, Underwater Mortgages, and Volatility. Taxes are not a fun topic to discuss but it is an important one to cover because the tax code is continually changing. There was a nice article on Fox Business that highlighted some of the upcoming tax changes for 2012 and 2013. Some changes to look out for in 2012 are the loss of the Social Security tax reduction and the ability to itemize state and local taxes. In addition we go into detail about why getting a huge tax refund is not necessarily a good thing.

If your home is underwater you are not alone. About 29% of homes today in America are underwater. Having your home underwater impacts you if you are trying to refinance or if you are getting ready to move in the near future. But if you can continue to make your payment, do not panic, and continue to make your monthly payment.

Volatility can be seen everywhere in our financial life today from the economy to the stock market. What are some things I do to combat volatility? Have a long term perspective. If you listen to the news or follow the stock market each day you will get an ulcer. But having a long term perspective will help you ride the ups and downs over time.

Finally if you have not yet registered for our November Giveaway, please do so today. We will be giving away a free copy of the book The Total Money Makeover by Dave Ramsey at the end of November. It is pretty simple to register and no purchase is necessary.

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.

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. Please Email me them at JWFinancialcoaching@gmail.com -You may subscribe to the Podcast either through Feedburner or iTunes.

You can find prior editions of the podcast at the podcast archive page or by visiting our Facebook Fanpage.

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Today’s episode marks the one year anniversary of the JW’s Financial Coaching Podcast being released. The show started last November and we have been able to do over 80 episodes in just one year. Thanks to everyone who has been a part of the show and looking forward to an even better year two. You can listen to all the past episodes in iTunes, on Facebook, and on the archive page.

The personal finance A-Z series continues with passive income, qualified retirement plan, ROTH accounts, and student loans. Discover why all of these terms are important to know and learn how you can implement them into your daily financial life. For a longer discussion on student loans please listen to the podcast I did with Steve Stewart where we reviewed the book "Debt Free U" by Zac Bissonnette.

In addition we are pleased to be announcing our first giveaway on the podcast. At the end of the month of November we will be giving away the Total Money Makeover by Dave Ramsey. There are three ways to enter: 1) “Like" us on Facebook, 2) Subscribe to receive blog posts via email, 3) Leave a review on iTunes. For more details please visit the November Giveway page.

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. Please Email me them at JWFinancialcoaching@gmail.com -You may subscribe to the Podcast either through Feedburner or iTunes.

You can find prior editions of the podcast at the podcast archive page or by visiting our Facebook Fanpage.

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Today we continue with Personal Finance A-Z by discussing marriage, net worth, and opportunity cost. If you enjoyed this episode please leave a review in iTunes.

One of the leading causes of divorce in our country today is money. What would happen to your marriage if instead of fighting over money you could talk about money? To win with money you have to have unity in your finances. You can not do the money thing by yourself; it takes two people who are on the same page and have the same goal.

We talked about assets when we covered the letter “A” and liabilities when we covered letter “L” but what do you get when you subtract your liabilities from your assets? You get what we call your net worth. Knowing your net worth is important because it is really a scorecard of how well you are doing financially. If you do not know where you stand, feel free to use the net worth spreadsheet to help you out. But beware: never confuse your net worth with your self-worth.

Opportunity Cost is what you have to give up to do a certain task. It can be measured in time, energy, and most importantly money. Remember your money is finite so when you say “Yes” to something financially, you are saying “No” to something else as well. The problem with credit is that the banks are the ones who win and your bank account suffers so when you use credit, opportunity truly does COST you.

In addition, for those of you in the Central Ohio area, on Tuesday November 8th at 7pm at the Columbus Library-Hilliard branch, we will be having the third course of the Great Recovery on I-70 series. November’s class is all about finding a career that you have a passion for. The class will last approximately 90 minutes and is open to the public. Feel to free to invite your friends, co-workers, or anybody else who would want to come.

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. Please Email me them at JWFinancialcoaching@gmail.com -You may subscribe to the Podcast either through Feedburner or iTunes.

You can find prior editions of the podcast at the podcast archive page or by visiting our Facebook Fanpage.

October 23, 2011  
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Now is the time to start thinking ahead and start to create your 2012 goals. Why so soon? Well if you are like most, the last two months of the year fly by and before you know it, it’ll be the end of the year. So don’t wait until the last minute to create your goals, do them now while you are not as rushed.

Having joint accounts with your spouse will greatly help not only the way you handle your money, but also how you communicate. The most important thing in handling money in marriage is working together and how can you do that effectively when your money is not combined? Can you make it with separate accounts? Perhaps, but you are also missing the opportunity to have one-ness in your marriage.

It is important to teach your kids about money. That is because they will most likely learn how to handle money from you! That can be a scary thought depending on how you handle money. The most important thing to teach your kids is that you earn money by working and that there are three things we do with money; spend, save, and give.

Liabilities are the opposite of assets; they are obligations that you must pay for prior purchases. Instead of making you wealthy, liabilities make the bank wealthy. Our goal is to encourage you to ELIMINATE your liabilities. Imagine all the options you would have if you did not have any payments.

The Debt Free Living podcast series will start this Thursday with an intro from yours truly and will start having guests the first Thursday in November. If you are an iTunes subscriber there is nothing you have to do on your end to receive the interviews on your iPod. But if you have not subscribed to the podcast yet through Feedburner or iTunes and you want to, now may be the time to do so.

If you enjoyed this episode please 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. Please Email me them at JWFinancialcoaching@gmail.com -You may subscribe to the Podcast either through Feedburner or iTunes.

You can find prior editions of the podcast at the podcast archive page or by visiting our Facebook Fanpage.

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Gambling, home equity lines of credit, and insurance are the main topics on the show today. Gambling is not a way to build wealth, in fact, it will cause you to go the other way and become broke. If playing the lottery is your retirement plan then you are in trouble. But playing the lotto is not the only way we gamble with our money. We gamble by taking out huge loans and investing that money into either the stock market or in real estate. The thing is that you do not have to gamble to build wealth; be the tortoise and not the hare.

Home equity lines of credit get pushed as a good way to pay off your debt by consolidating. The problem is that by doing that you very rarely making the necessary changes that got you into the debt in the first place. In addition, you are also putting your home at risk. If you do have one we discuss what is the best way to go about paying it off.

Insurance is available for almost every single item necessary. You do need some insurance but figuring out which insurance you need can be quite difficult. We break down what insurances we recommend that you buy and which ones you need to avoid.

If you enjoyed this episode please 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. Please Email me them at JWFinancialcoaching@gmail.com -You may subscribe to the Podcast either through Feedburner or iTunes.

You can find prior editions of the podcast at the podcast archive page or by visiting our Facebook Fanpage.

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Diversification, emergency fund, and faith are the main topics on the show today. Diversification is not only an important part of a retirement portfolio, but is also an important part in an overall healthy financial plan. You do not want all your money being put into one form of asset such as cash, your home, or your retirement portfolio. You also want to have a diversified budget. You want to be putting money into things that go up but you also need to spend some money from time to time and enjoy your money by eating out, going on vacation, or making some “want” purchases.

Having an emergency fund is one of the staples in any solid financial plan. The importance of an emergency fund cannot be overstated. You WILL have a financial emergency at some point in your life and most likely will have some kind of unexpected expense occur within the next 12 months. But having an emergency fund will turn those events from a potential financial crisis into simply an inconvenience.

Faith and finances is not something we talk a lot about on this show. But it is something we need to talk about because whatever your faith is, money is spiritual. What is most important to you is what you will most likely spend your money on. The thing you need to ask yourself is, “Is the way I handle my money consistent with my faith?”

In addition, I asked on the Facebook Fan page a question about the “Mega banks.” I want to know your opinion on them and whether or not you still do business with them.

Finally we have a big announcement about a new podcast series I am doing towards the end of the month entitled “Debt Free Living.” Look forward to more details in the coming weeks!

If you enjoyed this episode please leave a review in iTunes.

In addition for those of you in the Central Ohio area, on Tuesday October 11th at 7pm at the Columbus Library-Hilliard branch, we will be having the second course of the Great Recovery on I-70 series. October’s class is all about credit. The class will last approximately 90 minutes and is open to the public. Feel to free to invite your friends and we’d love to meet you in person.

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. Please Email me them at JWFinancialcoaching@gmail.com -You may subscribe to the Podcast either through Feedburner or iTunes.

You can find prior editions of the podcast at the podcast archive page or by visiting our Facebook Fanpage.

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We’re kicking off a new series on the podcast titled “Personal Finance A-Z.” For the next few weeks we will be going through the alphabet letter by letter and defining different buzz words in personal finance. Today we cover letters A-C with Assets, Bonds, and Cash. What kind of assets do you want to have, what’s the difference between a bond and a stock, and why is cash the official payment method of the podcast? All those questions are answered and more on the show.

If you enjoyed this episode please leave a review in iTunes.

In addition for those of you in the Central Ohio area, on Tuesday October 11th at 7pm at the Columbus Library-Hilliard branch, we will be having the second course of the Great Recovery on I-70 series. October’s class is all about credit. The class will last approximately 90 minutes and is open to the public. Feel to free to invite your friends and we’d love to meet you in person.

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. Please Email me them at JWFinancialcoaching@gmail.com -You may subscribe to the Podcast either through Feedburner or iTunes.

You can find prior editions of the podcast at the podcast archive page or by visiting our Facebook Fanpage.