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!

December 16, 2012  
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Highlights of today's show:

  • Answering listeners' questions on personal finance
  • How much is ideal to have for a down payment on a home?
  • Should I suspend retirement contributions to save up for a down payment?
  • What are sinking funds?
  • Year end accomplishments and goals podcast is coming up

We always enjoy answering listeners' questions on the show and today we get to answer two different questions from listeners. The first is on sinking funds. Not having sinking funds in place is one of the biggest ways we can get in trouble financially. Today we discuss what they are and what kinds of expenses are good for sinking funds.

Second, we also answer a question from a listener on how much to save for a down payment on your first home. There isn't an exact rule on how much you need to save in order to have a good down payment, but obviously the more the better. The goal is to have at least 20% down so you avoid having to pay for PMI insurance. But having 20% down for your first home might be asking too much. Instead focus for 12-18 months on saving up as much cash as possible to put down on a home. I would even consider suspending your retirement contributions, temporarily, to make this happen. Please, don't do what I did and get house fever and put nothing down on a home. It doesn't give you much room for error.

Congratulations to Kim Anstaett for being the winner of the Four Week Financial Turnaround contest. Those of you can pick up your copy of the book on Amazon or at FourWeekFinancialTurnaround.com

Finally, I need your help for the final podcast of 2012. I’m trying to collect testimonials from you, the listener, on what you have done to improve your finances in 2012 as well as finding out what your goals are for 2013. Please take 2 minutes and fill out the contact form with your answers. I plan on reading all of them on the final edition of the podcast this year. My goal is to read 100 of these, so thank you in advance for your participation.

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 awhile 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, 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.

May 18, 2011  
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On today’s show we cover a variety of topics dealing with personal finance. We answer a question from a reader who found our website through the search “why is taking out a loan bad.” We answer that question by sharing what we teach our financial coaching clients on borrowing.

In addition, we have a follow-up segment on a discussion we had on a prior podcast about the increase in the stock market and how that has been kept very quiet on the news. Well Fidelity had a news release the other day stating that the average 401(K) balance at the end of March was the highest since 1998! We discuss the reasons for that and explain why this is another example of how your money can work for you instead of you working for money.

Finally, are banks really lending money? It seems like all we hear about is how the banks are not lending and how nobody can get a loan. But yet I am still getting credit card offers in the mail daily, along with offers to refinance my home and for new auto loans. I also share a conversation I had with my friend on how much money the bank would approve him for a mortgage, and it will blow your mind! This begs the question: did the banks learn anything from the mortgage mess of 2007-2009? Or better yet: have we learned to say no to the bank when they “offer” us credit?

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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In today’s show we discuss some more questions having to deal with Financial Literacy month! Some personal finance bloggers and financial coaches, including myself, are producing short, daily, one minute videos asking a question dealing with personal finance. Below are some of the questions covered into today’s show:

April 12 video by Julia Gray-Lion of www.PromisesFC.com

April 13th Video by Steve Stewart of Moneyplan SOS

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

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On today’s show we answer in detail a question from one our listeners who wants to know what to do with a Universal Whole Life insurance policy that was purchased when he was a child. What should he do with the policy? Continue with it or dump it and get term life insurance? We run the numbers and explain why 99.9999% of the time term life is always better than whole life.

On a related note, we did a show back in December on whole vs. term life insurance (beware of poor audio quality) and went into detail why you need life insurance.

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