Keep Yours

If you are applying for the PPP (Payroll Protection Program) loan offered as part of the CARES Act relief package, this episode will walk you through the calculation and document requirements. Your bank may have slightly different forms, but the underlying requirements are fairly universal.

The CARES Act offers some much needed financial relief in light of the hardships COVID-19 has brought about for many. But which option is best? The Economic Income Disaster Relief Loan (EIDL) or Paycheck Protection Program (PPP)? Where does unemployment fit into all of this? When and how can you combine these options? We help you do some of this math and figure out which relief program might be best for you.

UPDATE: As of 4/6, the SBA has changed the rules to only allow $1k/per employee upfront money (and therefore forgiveness on the EIDL loans). We will respond soon to update how this affects the decision making on which plan is best to use for you.

If you prefer, watch on YouTube here: https://youtu.be/H0xS0_r6V8s

The new CARES Act the government released has lots of options for small businesses and the newly unemployed. Should you get an EIDL loan? Or should you get a PPE loan as an employer instead of laying off your employees? If you're self-employed or in the gig economy, do you apply for unemployment, or an EIDL loan? In this first, crash course episode on the CARES Act we explain your options and what might be best for you.

Bills are now getting signed into law that are thankfully here to help us financially during these uncertain times. In this episode we break down how unemployment benefits work and how you can start to get yours quickly and painlessly.

Don't be fooled. Unfortunately, all signs point to this as just the beginning of not just a global pandemic, but a lengthy recession as well. What's your plan? Over the next few weeks (months?!) we will be addressing ways to mitigate the negative consequences of this, and navigate you and your family to financial safety.

Changes to how your FICO credit score are coming, and if you don't understand them you could be left with a decreased credit score. In this episode, we explain how your credit score is calculated, and some unconventional ways you probably haven't heard of to increase it, or keep it from dropping if it's already high.

In part two of our home-buying series, we break down for you what happens at appraisal, inspection, red flags to look out for, and little known secrets to saving money on your house buying cost.

The biggest purchase you'll ever make is buying a home, so it makes sense that you do some research and homework before diving in. Here we share the critical first steps you should take, as well as some tricks so you get the home you want and don't overspend at any point in the process.

Don't give the government any more money than you have to! We know that choosing between a traditional or a Roth IRA can be confusing, with a number of variables. Here we talk you through it and show you how to calculate your tax rates so you can make the right decision for yourself.

Follow along on YouTube here.

For the worksheets used in this podcast, go here.

While student loan forgiveness sounds great in theory, there are a lot of issues with it. For one, how would it be determined whose loans would be forgiven? What if you've already struggled for years (or decades!) to pay down those loans while a new graduate gets theirs completely forgiven? This is just one big problem amongst other big problems we see with student loan forgiveness, as well as the fact that it does not address the larger problem of an overall broken system. We have an alternative solution you'll want to hear (hint: in our solution, big banks will stop benefitting from student loans). Listen for more!

Check out www.keepyours.org for today's show notes and more financial tips on how to thrive within capitalism.