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EPISODE 2 - YOUR RELATIONSHIP WITH MONEY AND HOW TO CHANGE IT credit debt podcast psychology saving money Aug 01, 2019

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:

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CASH FLOW Jul 31, 2019

Definition

Cash flow is how money flows in and out of your account and/or business

Why It's Important

Cash flow is crucial to financial freedom. If you aren't sure how money is coming in and going out, it is virtually impossible to get your financial footing. You will always blow in the wind...

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FEDERAL FUNDS RATE Jul 24, 2019

Definition

The federal funds rate is set by the Federal Reserve and guides the interest rates used by financial institutions. As of Today, it is 0.25%

Why It's Important

When you hear that the "Fed has decreased interest rates", this is the rate they are referring to. They are not talking...

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APR Jul 17, 2019

Definition

APR, also known as Annualized Percentage Rate, is the annual rate charged for borrowing or earned through investment.

Why It's Important

APR is typically used when you are borrowing money while APY (annual percentage yield) is used when talking about interest (getting money)...

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I'M GOING TO FINCON 2019 BABY! Jul 17, 2019

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I am so excited! I was blessed enough to get a full scholarship to FinCon this year. Not familiar with what FinCon is? You can read about it here: https://finconexpo.com. I have been wanting to go for years but either didn't have the money or couldn't take off. This year, I have no barriers...

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CERTIFICATE OF DEPOSIT Jul 10, 2019

Definition

Certificates of deposit, also called CDs, are savings vehicles that have a fixed maturity date and a fixed interest rate

Why It's Important

CDs generally have higher interest rates than a regular savings account or money market at the bank. But, there is a catch! Remember, in the...

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CANCELLATION OF DEBT Jun 26, 2019

Definition

A cancellation of debt may occur if the creditor can't collect, or gives up on collecting, an amount you were obligated to pay.

Why It's Important

You may be thinking "Oh, this is awesome! Cancel all my debt, please and thank you!" But, not so fast. When a creditor forgives or discharges...

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FEDERAL HOUSING ADMINISTRATION Jun 12, 2019

Definition

A government entity that operates under the U.S. Department of Housing and Urban Development

Why It's Important

The Federal Housing Administration has been making FHA loans available since 1934. These are special home loans backed by the government giving more people access to buy their...

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ANNUITY Jun 05, 2019

Definition

Annuity is a fixed sum of money paid to an individual each year

Why It's Important

Annuities can be an effective retirement income strategy.  They are created and sold by financial institutions.  But, how do they work?  Let me explain.  The financial...

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REALIZED LOSS May 29, 2019

Definition

A realized loss is the loss that is recognized when assets are sold for a price lower than the original purchase price.

Why It's Important

Losses suck!  Ok, that wasn't politically correct but they really do.  No one wants to lose money in the stock market but sometimes you...

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TICKER SYMBOLS Apr 24, 2019

Definition

Also called stock symbols, ticker symbols are abbreviations that identify publicly traded shares on the stock market 


Why It's Important

Ticker symbols are how you can find what stock or mutual fund you would like to invest in.  When you use brokerage firms, like TD...

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DEPRECIATION Apr 10, 2019

Definition

Depreciation is when an asset loses its value over time.  It has various methods and treatments according to the companies' policy.


Why It's Important

Cars are an asset that depreciates rather quickly.  That is why they say once you drive off the lot, it has already lost some of...

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