This week the guys tackle five questions from the audience on debt, real estate investing and freelancing.

 Question one:

 Hi, Andrew, Tom, and Laura,

 I think an important, and sorely needed topic is finance for freelancers. And not even those who use invoicing systems. I’ve been freelancing for more years than I care to admit, and there are so many like me who copyedit, proofread or design book jackets. We’re one-person shows, with

 little-to-no cushion, where times are feast or famine. I would love to talk about this more or hear you guys talk about it in more

 depth.

 Putting together a financial system when you have variable income is uses the same fundamentals as someone who is a salaried employee. However, you’ll have to build a bigger cushion if your income isn’t consistent.

 You need to keep more in a reserve account than someone who has steady pay. Keep track of your income month to month and use that data to plan for the upcoming year. If you have a pool business and make most of your money from April to September, budget accordingly. Make sure you aren’t overspending that income has to last you.

 Six months worth of expenses should be a big enough war chest to get you through a hard time if need be. If you are a freelancer and haven’t earned in 6 months, maybe it’s time to look into another career or pivot your business.

 Question Two:

 Hey guys,

 Is it possible to rollover my Roth IRA to a traditional? Would I get a tax refund for the income tax that I would have saved had I been using a traditional IRA all along? Are there any limitations or conditions to performing this rollover? I have only had a Roth IRA for two years.

 There are some advantages of rolling over your Roth into a Traditional. If you’re broke and need cash or you are retiring soon and aren’t planning on earning in the future could be a reason to make this play. When you move money from a Roth retirement account to a traditional IRA, you can get back the taxes you paid on that contribution, but there are rules and deadlines. Be aware of the calendar deadlines that the IRS imposes.

Question Three:

Hey guys,

I am trying to refinance my credit card debt. I asked Lending Club for a $3,000 loan, and they are only giving me the option to take out a $6,025 loan. Do you know why this is? If this is my only option, I plan on taking it out and then giving back $3,025 right away since I only need 3k. What would you guys do? Is that even possible for me to give back $3,025 right away?

Lending Club is a peer to peer lending service. That means, instead of going to a bank for a loan, you can get a loan from a group of random people. On the flip side of things, you can also contribute to funding a loan for other people allowing you to get in on the bank’s profit engine. Lending Club because they get better rates than they would with a bank loan and loans are issued much faster through the power of the crowd. The crowd will also approve loans that normally banks may not.Lending Club offers better rates than a bank would, and loans are issued much faster. Lending Club and Prosper charge a 5% origination fee. The origination fee you pay for your loan will depend on your loan rate. The safest borrowers with the best credit pay the lowest origination fees, while mostly everybody else pays a 5% fee.

Lending Club because they get better rates than they would with a bank loan and loans are issued much faster through the power of the crowd. The crowd will also approve loans that normally banks may...

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