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THE MANY LESSONS OF SUMMER 2019

Uncategorized Aug 27, 2019

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As the kids go back to school this week, I wanted to take a moment to reflect on the many lessons I learned this summer. It was both challenging and cleansing. The message that I write my story and control my surroundings has never been more apparent! Here is what happened:

 

The Lowlights

  1. Braces - My gosh those things are expensive! It was time for my oldest son to get his braces at the beginning of the summer. If you follow me on social media, you may have seen me talk about the braces before as I had known about it since the beginning of the year. I was prepared to cover my portion of the expense since his dad said he would cover half. Well, the day before the appointment, his dad said he is no longer working so he can't help. Frustrating! So, I had to figure out how to make a way for my son to get the care he needed. I talk about it in Episode 4 of my podcast.
  2. No Child Support - Of course, since my oldest son's dad wasn't working anymore, he could no longer pay his...
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EPISODE 6 - LISTENER REQUEST: WHAT IS INCOME TAX AND HOW DOES IT WORK?

podcast taxes Aug 22, 2019

Do you know why taxes are coming out of your check every pay period?  How do they calculate it?  What is it used for?  Join Tiffany as she answers these questions and more!  This episode was a listener request!  To submit a question: join our Facebook group or fill out the form on the website and it could be featured on a future episode!
Be sure to subscribe and rate this podcast on your favorite platform!  This helps more people find us.

 

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ASK PRICE / BID PRICE

Uncategorized Aug 21, 2019

Definition

The ask price is the price at which a dealer of a particular security is willing to sell the security to interested investors. A bid price is the price at which a dealer in a particular security is willing to purchase the security from investors.

Why It's Important

The New York Stock Exchange (NYSE) is an auction market. Sellers are naming ask prices and buyers are naming bid prices. So, for instance, look at it like a flea market. Apple (AAPL) has a table and you approach because you are interested in purchasing a piece of their table. AAPL says I think this piece of table is worth $10.00 (ask price). You say it's a mighty fine table but I think a piece is worth $9.50 (bid price). Let's say for illustration purposes that AAPL says ok, I will take your $9.50. Here is a piece of the table and the transaction is done. Another person, just saw that you got a piece of their table at $9.50 and comes over to purchase as well. The negotiation process starts all over. This is what...

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EPISODE 5 - LISTENER REQUEST: WHAT ARE ROTH IRAS?

Always wondered about Roth IRAs?  Join Tiffany as she breaks down what they are and how to best utilize them.

This is a listener request episode.  If you want to have your question featured, please submit on our website.

 

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ALTERNATIVE INVESTMENTS

Uncategorized Aug 14, 2019

Definition

Alternative Investments are any investment that is not cash, equities, and bonds

Why It's Important

The list of alternative investments is very broad and includes real estate-backed securities, mortgage-backed securities, limited partnership interests, hedge funds (explained here), private equity, collectibles, natural resources, cryptocurrency, precious metals, and even options and futures contracts. Whew!

Alternative investments can play an important role in the development of a diversified portfolio (explained here). Most financial assets are positively correlated (when one moves up the other moves up) but with alternative investments there is typically a low correlation, no correlation, or even a negative correlation (when one moves up the other moves down) making it a good way to hedge (protect yourself) in the event of a lost.

*Beware* They are typically higher in risk than other investments so tread lightly unless you know what you are doing!

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EPISODE 4 - HOW I (ALMOST) CASH FLOWED BRACES

podcast saving money Aug 08, 2019

This was a $5,000 unplanned expense that I almost panicked over!  Has this ever happened to you?  Did you have a big unplanned expense that came out of nowhere?  It could completely derail your progress on your financial goals.  Listen to how I made it work by using my company benefits and some clever financial hacks to get it to less than $2,000.  

 

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BASIS POINT

Uncategorized Aug 07, 2019

Definition

A basis point is equal to one hundredth of one percent

Why It's Important

You have probably heard the talking heads on your favorite financial shows or news site mentioning basis points. They may have said something like "interest rates have gone down 25 basis points". 25 basis points is equal to 0.25% or a quarter of a percent. You may be thinking why use basis points? Well, usually the differences in interest rates are so small, it takes a smaller unit of measurement to describe the change.

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EPISODE 3 - BUDGETS! MY FAVORITE TOPIC. LEARN WHY!

budgeting debt podcast Aug 01, 2019

Do you have a budget?  Lost on what a budget is or how to start one?  Look no further!  Tiffany talks about her favorite topic, budgets, and easy ways to put one together.  You will learn why she loves budgets so much and why you should come to the dark side!  Muahahaha

 

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EPISODE 1 - INTRO TO MONEY TALK WITH TIFF

credit debt podcast Aug 01, 2019

Get motivated on your financial journey as you follow money nerd and financial coach, Tiffany Grant, on her journey to be debt-free by 30!

She makes complex financial topics surprisingly simple. You will get practical tips and tricks with an inside look at the strategies she uses on a daily basis. Tiffany gives you straight talk on all things money.

 

Episode Transcript:

 Welcome to Money Talk With Tiff, a podcast where we discuss everything money, from tips and tricks to current events. Follow me on my journey to become debt-free, and meet other cool people along the way. I am your host, Tiffany Grant, now let's talk money.

So, I wanted this first episode to just briefly go over what Money Talk With Tiff is how it got started a little background history about myself, and then what you can expect from the Money Talk With Tiff podcast. So, Money Talk With Tiff began as a blog. I started it in December of 2017. And it was just a way for me to get financial literacy out to the...

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EPISODE 2 - YOUR RELATIONSHIP WITH MONEY AND HOW TO CHANGE IT

In this episode, we discuss emotions and how they affect our money decisions.  Will you do things differently or the same?  How has your family affected your relationship with money?  These are some questions to explore as you listen to this episode.

 

Episode Transcription:

Welcome to Money Talk With Tiff, a podcast where we discuss everything money from tips and tricks to current events, follow me on my journey to become debt-free and meet other cool people along the way. I am your host, Tiffany Grant now let's talk money. 

I want to talk about something extremely personal. And that's relationships with money. Everybody's experiences with money and their role models with money are different from person to person. So a little bit about how I got interested in money. Growing up, I didn't really have solid financial role models. Everybody in my family is a spender. So, I had to learn how to be a saver, rather than following the same path as everyone else....

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