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!

July 8, 2012  

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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