Dads Daughters and Dollars

We discuss the fear of spending money which is actually called Chrometophobia. Some people based on their upbringing don't know how to allow themselves permission to spend money thinking there will always be finance problems in the future. We discuss strategies to help you including 1) writing down your short, medium and long term goals and 2) prioritizing your transactions as wants or needs. Please stick around till the end and hear what Sean talks about regarding your mindset and money. He believes it is the most important message to take from the episode. Enjoy!

This is the previous episode of Dads Daughters and Dollars that Sean refers to. 

https://www.dadsdaughtersanddollars.com/podcast-financial-independence/episode/29e85188/ep-318-katelyn-needs-a-budgeting-app

Our guest co-host Deanne Avner asks me money questions she has always wanted answered. The include questions about savings, debt, credit cards and charity giving. Here is a link to the the Investment Policy Statement from Jim Dahle we spoke about that I think everyone needs to see first before drawing up your own. https://www.whitecoatinvestor.com/how-to-write-an-investing-personal-statement/ 

Tune in to learn more.

50% of Americans experience tax anxiety. In fact there is a name for it. Forosophobia, or fear of Taxes and the IRS. In this episode we take you through my experience with trying to get a refund from the IRS and why you have very little to worry about.

IMPORTANT TO KNOW- The IRS will not come to your house. https://www.nbcnews.com/business/consumer/irs-will-stop-making-unannounced-person-visits-citing-safety-taxpayers-rcna95987

We welcome a guest co-host this week who was so great I decided to spend the rest of my life with her. 

An impound account is an account held by your mortgage lender to collect and pay your homeowners insurance and property taxes. The are many times required depending on the amount your down payment when you purchase the house. We discuss the Pros and Cons of an impound account and I recommend not having one if you can avoid it. 

Gold is often pushed as a great hedge against inflation especially when the stock market is down. My Dad gives 5 reasons why he thinks I shouldn't invest in Gold. I learned a lot. 

We discuss a Clark Howard article I read called "Clark Howard's #1 Rule To Travel Cheap" and the Amazing Kayak Explore. Other travel hacks include Cheap Flight Services like Scott's Cheap Flights, Dollar Flight Club, NextVacay, Travel Pirates and Fly4Free. 

https://scottscheapflights.com/   https://dollarflightclub.com/   https://nextvacay.com/   https://www.travelpirates.com/   https://www.fly4free.com/

Happy Travels

We discuss exactly what Term Life Insurance is, what Whole Life Insurance is and give an example of buying each one. Choose wisely!! Spoiler Alert-we reveal the Winner by the end of the show. 

We discuss how long you should keep Car Records, Insurance Policies, Mortgage Statements, Tax Records, Passports and More. 

We discuss what Buying on Margin is (it's a loan) and while there might be an upside, at the end of the day you should steer clear of buying on margin.

As we start our 5th Season, we share a success story from a listener who saved $60,874.34 by recasting her mortgage. She heard our Ep. 206: Thank God That Guy Went Snowboarding" that discussed how I did a recast on my own house. With some persistence she got her recast. Listen to how she did it.