Becoming Financially Confident

Becoming Financially Confident

By Ralph V. Estep, Jr.

Breaking Free from Financial Shame, one conversation at a time.
Most money advice assumes you already know what you're doing. This show doesn't.
Becoming Financially Confident is a live weekday show ... more
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Best of Becoming Financially Confident

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  1. Number 1: Should You Rent Your Car on Turo? The Costs, Taxes, and Insurance Nobody Mentions

    Ralph Estep Jr. here, licensed public accountant, thirty years in the business, still finding new ways to get surprised by what people don't know about their own money. My cohost Juliet and I go live Monday through Friday, 11:30 to 12:30 Eastern, on Becoming Financially Confident. Before you sign that lease renewal or say yes to a side hustle with your car, listen to this one. Today we broke down how much room you actually have to negotiate rent, the dependent care tax benefit that just got its first increase since 1987, and why the price your pharmacy quotes you isn't always the real price. We also dug into Turo, and I walked through the real costs of renting out your car. Here's what we got into todayNearly 2 in 5 new apartment listings are offering concessions, and I explained why landlords would rather cut you a deal than let a unit sit emptyThe dependent care FSA limit went from $5,000 to $7,500 per household, and I ran the tax math on what that actually saves a familyI walked through why 20 to 25 percent of filled prescriptions aren't priced at the cheapest option, and how I use GoodRx myself before handing over an insurance cardThe FTC says 1 in 4 credit reports have an error on them, so I talked about why that's worth checking Everybody talks about Turo like it's free money sitting in your driveway. I wanted to know if that's actually true, so I ran the real numbers. Commission, insurance, taxes, wear and tear, all of it. What I found changes whether this side hustle is worth your time.Juliet and I broke down whether either of us would actually rent our car out on Turo, including the three earning plans and what they don't coverIn Explain It Like I'm Broke, I walked through my son's actual explanation of benefits statement and the four numbers that matter on it Send me your money question at becomingfinanciallyconfident.com. Or watch us live at becomingfinanciallyconfident.com/live. Have a great day, everybody.Mentioned in this episodebecomingfinanciallyconfident.com/wallet becomingfinanciallyconfident.com/lawdepotFollow us on our socialsLinkedIn Facebook Group Instagram Skool CommunityCompanies mentioned in this episodeTuroGoodRxWalletHubLivelyLawDepotGEICOTravelersAllstateState FarmAppleMcDonald'sChevroletBentleyRolls-RoyceHondaRoyal CopenhagenBecoming Financially Confident

    1h
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  2. Number 2: Why 37 Percent of Adults Can't Cover a $400 Emergency and How to Fix It

    The Federal Reserve asks Americans the same question every year: if you got hit with an unexpected $400 expense right now, how would you pay for it? The answers say a lot about where people actually stand with money, and it's not what you'd guess. On today's episode, Juliet and I dig into what that $400 question really reveals, then walk through the four stages I've watched people move through on the way to real financial confidence. Before that, three quick things worth knowing about your money this week. Here's what we got into today:The Federal Reserve's $400 question. 12 percent of adults couldn't cover it at all. Another 15 percent would put it on a credit card and carry the balance. Only 63 percent could handle it without stress. I break down what each of those answers actually means for where someone stands financially.Streaming prices are climbing again. ESPN Unlimited jumps to $31.99 and Peacock Premium to $12.99 on September 17. I share the spreadsheet trick I use with clients to catch these increases before they quietly add up.FAFSA opens October 1 for the 2027-28 school year. I went through this with my oldest son, so I explain why filling it out early matters even if you don't think you'll qualify for aid.A new tax rule lets you deduct up to $1,000 in charitable giving, or $2,000 if you're married filing jointly, even if you don't itemize. I also clear up a mix-up I see every tax season: GoFundMe donations don't count as charitable giving.The four stages of financial confidence: awareness, intentionality, stability, and growth. Juliet and I talk through what each one actually looks like, using her own experience rebuilding her emergency fund after being downsized.I introduce the Dollar Job Framework, my seven-step process for giving every dollar a job before it leaves your account: dream, define, discover, design, deploy, debrief, develop.This week's money move: put a PIN on your SIM card and turn on two-factor authentication everywhere you can. If you're one of the 37 percent who couldn't cover that $400 charge without borrowing or selling something, this episode isn't about shame. It's about figuring out which of the four stages you're actually in, and what the next right move looks like from there. Send me your money questions at becomingfinanciallyconfident.com/question, I read every one. Or watch us live weekdays at becomingfinanciallyconfident.com/live. Mentioned in this episode: becomingfinanciallyconfident.com/quicken Follow us on our socials: LinkedIn Facebook Group Instagram Skool Community Companies mentioned in this episode:ESPNPeacockBankGoFederal ReserveQuickenGoFundMeIRSFAFSA (Federal Student Aid)T-MobileVerizonNetflixDunkin' DonutsStarbucksChatGPTSchool of Podcasting (Dave Jackson)Marriage and Money (Karen Hackman)

    1h 1min
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  3. Number 3: New 1099 Rules for Freelancers, Class Action Deadlines, and Who Pays a Parent's Debt

    I'm dealing with a head cold today, so forgive the voice, but we've got a full show for you. Mortgage rates just hit 6.71%, the highest in over a year, and I'll walk you through what that actually does to your buying power. We also dig into why your regular savings account might be handing the bank $573 a year that could've been yours, what an IRS CP2000 notice really means (spoiler: it's not an audit), and whether you're on the hook for a parent's credit card debt after they pass away. Plus a new 1099 rule that's going to confuse a lot of freelancers, three class action settlements closing out this month, and this week's money move to protect your phone number from getting hijacked. I'm Ralph Estep Jr., a licensed public accountant with 30 years in the business, and I'm joined by my cohost Juliet. We're live every Monday through Friday from 11:30 AM to 12:30 PM Eastern on Becoming Financially Confident. Here's what we got into today:Three class action settlements with September deadlines, including one that pays out for a cookware brand without a receiptMortgage rates climbed to 6.71%, and I explain why I don't think we're heading back into the 4 and 5 percent range anytime soonThe 1099 threshold jumped from $600 to $2,000, which sounds like good news for business owners but could trip up a lot of gig workers come tax seasonDana in Ohio has $15,000 parked at 0.4% interest. I broke down the math on high-yield savings versus CDs and showed her how to build a CD ladderMarcus in Pennsylvania got a CP2000 notice for $3,200. I walked through exactly what that letter is asking for and why it's not the audit he thought it wasYvonne in Michigan is getting collection calls over her late mother's credit card debt, even though she was only an authorized user, not a joint account holderThis week's money move: lock down your phone number with a carrier PIN before someone else does. I had someone try to hijack mine, so I speak from experience on this one Got a money question? Send it to me at becomingfinanciallyconfident.com. Want to watch or listen live? We're on weekdays from 11:30 AM to 12:30 PM Eastern at becomingfinanciallyconfident.com/live. Have a great week, everybody. Mentioned in this episode: becomingfinanciallyconfident.com/quicken becomingfinanciallyconfident.com/stamps becomingfinanciallyconfident.com/ezwill Follow us on our socials: LinkedIn Facebook Group Instagram Skool Community Companies mentioned in this episode:IroncladGoogle PlayO'Reilly Auto PartsQuicken SimplifiStamps.comEZ Will and TrustDisneyFidelityVerizonVenmoCash AppIRS Taxpayer Advocate ServiceConsumer Financial Protection Bureau (CFPB)

    1h 1min
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  4. Number 4: The $6,884 Mistake Nearly 1 in 3 Car Buyers Make at Trade-In

    Prescription just got 97% cheaper through a program most people don't know exists, gas is running 90 cents higher than last Labor Day, and nearly 3 in 10 car trade-ins are underwater by an average of $6,884. That's today's show. This is Becoming Financially Confident, live weekdays at 11:30am Eastern. I'm Ralph Estep Jr., a licensed public accountant with 30 years of experience, and I'm joined by my cohost Juliet Chuang. Today we covered:Prescription prices fell 3.1% this year, the biggest drop since 1963, but I'll tell you why that number didn't move my own pharmacy bill, and the manufacturer program that took my own medication from $770 a month down to $25What actually makes sense financially between driving and flying for Labor Day, and the rule I use now that I'm olderHow to spot a fake charity before you donate, including the sites I actually use to check where the money goesWhy 1 in 4 credit reports has an error on it, and how I use WalletHub to keep an eye on mineToday's Breakdown, what it means to be underwater on a car loan, how rolling negative equity into a new loan can quietly cost you thousands more in interest, and the order you should negotiate a car deal in so you don't get taken advantage ofThis week's money move, freezing your credit reports at all three bureaus You can watch or listen live with us at https://www.becomingfinanciallyconfident.com/live. Got a money question? Send it to me at becomingfinanciallyconfident.com. Links referenced in this episode:becomingfinanciallyconfident.combecomingfinanciallyconfident.com/communitybecomingfinanciallyconfident.com/walletbecomingfinanciallyconfident.com/lawdepot Companies mentioned in this episode:Happy Harry'sWalgreensGoodrxWalletHubCharity Watchgive.orgCharity NavigatorTunnels for Towers

    53min
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  5. Number 5: I Inherited $20K and Grew It to $70K. Should I Keep Investing or Pay Bills?

    Today, we're diving into a wild ride where $20,000 turns into a whopping $70,000, all thanks to some stock market advice from a relationship that’s now a chapter in the past. Our listener is feeling a bit tangled up about what to do with this cash windfall, especially since the advice came from someone she isn’t exactly vibing with anymore. I Inherited $20K and Grew It to $70K. Should I Keep Investing or Pay Bills? We’ll break down how to separate the money from the memories and get super practical about giving every dollar a job. It’s all about making smart moves with your dough, whether that means covering bills or investing for the future. Plus, stick around for some exciting news about our show that’s about to get a serious upgrade! Read today's blog article Check out the full podcast episode here A wild ride of emotions and finances unfolds as we dive into a listener's story about a sweet $20,000 inheritance that magically morphed into a whopping $70,000—thanks to some stock market magic from a bygone relationship. Talk about a plot twist! But now, our listener's got a dilemma: what to do with this unexpected windfall? It's like being handed a golden ticket but not knowing where to go. We dish out some real talk about separating the money from the man who gave the advice, emphasizing that just because the relationship is over doesn’t mean the good advice has to go down with it. We’re all about breaking that financial shame cycle, right? As we dive deeper, we tackle the essential steps for managing this newfound cash, from setting up a solid savings cushion to tackling any pesky debts. Plus, we sprinkle in some tax wisdom because, hey, nobody wants Uncle Sam knocking at their door after cashing in. It's all about giving every dollar a job and making sure our listener feels that this money is truly theirs to manage. By the end, we’re not just crunching numbers; we’re also navigating emotions, grief, and the weight of responsibilities that come with money. So, buckle up as we guide our listener through this journey of stewardship and confidence, all while keeping it real and relatable! Takeaways:Turning a $20,000 inheritance into $70,000 is no small feat, but it raises questions about handling money wisely.The end of a relationship shouldn't cloud your financial decisions; it's your money now, own it!It's crucial to know the tax implications before selling any investments, especially after significant gains.Building a cash cushion for emergencies should be your first priority with newfound funds, seriously, don't skip this step!Make sure every dollar has a job to avoid spending it aimlessly; plan for both bills and growth.If your monthly expenses are a mess, throwing money at it won't fix the problem; it's time to get a financial game plan. Links referenced in this episode:becomingfinanciallyconfident.comhttps://www.financiallyconfidentchristian.com/questionhttps://www.financiallyconfidentchristian.com/voicemail/ 💛 Join the Financially Confident Christian CommunityIf today’s episode encouraged you, we’d love to invite you to be part of something bigger — the Financially Confident Christian Community. This is where faith and finances come together — a growing family of believers supporting one another, sharing encouragement, and helping spread God’s truth about money. Your membership helps keep the show free for everyone while funding new devotionals, study guides, and outreach resources. 👉 Learn more and join the mission at financiallyconfidentchristian.com/join Together, we’re helping believers everywhere break the cycle of financial shame and live with confidence in Christ. 🙏 Get Ralph's Book on becoming a Financially Confident Christian financiallyconfidentchristian.com/becoming LISTEN NOW WATCH NOW ON YOUTUBE (OUR VIDEO VERSION) WATCH NOW ON RUMBLE (OUR VIDEO VERSION) Please share our Podcast with all your friends and family! Submit your questions or ideas for future shows - email us at [email protected] or leave a voicemail message on our podcast page Leave A Voicemail Message

    14min
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