KTs Money Matters

In this episode, KT and Jon Dwoskin discuss: 

What's the right thing for people to be thinking about as they go into businessCan you teach someone to be an entrepreneur or does it come naturally?What to do when your company gets stuckWhat makes someone great at leading peopleKey Takeaways: 

You need to decide if you can be an entrepreneur by yourself, or if you need a business partnerCompanies need to get a coach to shake them up and get them movingIt is easier to start a company and compete with others than ever beforeIf you go through your whole life playing not to lose, at some point you'll regret i 

"A lack of consistency is a big place where people begin to fall short." — Jon Dwoskin 

Connect with Jon Dwoskin: 

Twitter:   @jdwoskin  

Website:   www.jondwoskin.com

Email:   [email protected] 

Click here to reach KT   

Connect with KT Thomas: https://ktsmoneymatters.com/ 

Purchase KT's book- The Hardworking Woman's Guide to Money 

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In this episode, KT  discusses:

In your 30's you are making your own financial decisionsEstablish a strong plan on how to saveEmployee stock purchase plansPlanning for kids financiallyKey Takeaways:

Save enough to have the employers sponsored matchPay off loans as quick as possibleIf you want to always be a stay at home parent, you must save earlyFinancial advisors are very valuable 

Click here to reach KT 

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money 

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In this episode, KT and Tammy Symons discuss:

KT's experience with a death of a family memberIf you're the griever, what you should be thinking aboutPlanning a funeralInquiring about life insuranceKey Takeaways:

When a family member passes, make sure you know whose name is on current loans, any debt, insurance, etc.The initial task after someone passes away is to seek financial advice from a professionalTake loved ones with you when you go to the funeral home to make big decisionsTake a good inventory of everything that the deceased had — reach out to his/her financial planner — and use that information to make informed financial decisions"When you're grieving, you're not yourself… and you can't really think things through." — KT Thomas

Connect with Tammy Symons, CFP:

Website: www.newdaysolutions.com

Email: [email protected]

Phone: 800-834-2101

Click here to reach KT  

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money 

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In this episode, KT discusses:

Your 20s are the start of your "Grown-up" professional lifeIt's not too early to start savingDon't change jobs every few months- Get a job and keep it for a whileHaving credit is important, how you use credit is more important.Key Takeaways:

There are so many resources available todayStart establishing your credit and you "Stable Person  Value"Can you afford to buy a house now? You need to have 3 months of living expenses saved up first.www.bankrate.com 

  "It's really hard when you don't have a lot of credit, if that goes bad then all you have is bad credit and it will follow you for years." — KT Thomas

Click here to reach KT  

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money 

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In this episode, KT and Tammy Symons discuss:

How to rebuild yourself after divorce, financiallyHow your expenses changeThe help of a professional through a divorceProtecting your credit score 

Key Takeaways:

Putting together your new income vs. expenses and understanding what that is, is a great first stepSometimes, the beauty of going through a divorce is you having the ability to make and craft your own retirement goalsGet rid of joint credit cards ASAPMake sure you understand what the divorce agreement states… keep an eye on your beneficiaries for your life insurance, your retirement accounts etc. 

"There are going to be changes in earned income as well as expenses paying out child care… those changes are most likely going to happen and you need to account for what those changes are going to be." — Tammy Symons

Connect with Tammy Symons, CFP:

Website: www.newdaysolutions.com

Email: [email protected]

Phone: 800-834-2101

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In this episode, KT and Tammy Symons discuss:

Financial changes to consider when you start a familyHow to care for that child when both parents are workingKeeping insurance in mindPlanning for your child's educationKey Takeaways:

Create a new budget - because your grocery bill, clothing bill and much more is going to changeIf the parent leaving the workforce has the health insurance under his/her group policy, that needs to be addressedIt's important to start saving for college as early as possibleIf you started saving $100/month when your child is first born, you could end up with about $38,000 when your child attends college… if you wait until he/she is 4, you'll end up with $26,000… If you wait until he/she is 10, you'll end up with about $12,000"The US Department of Agriculture came out with a study based on 2015 numbers, saying that the average kid from cradle to college costs between $175,000 - $375,000." - KT Thomas

Connect with Tammy Symons, CFP:

Website: www.newdaysolutions.com

Email: [email protected]

Phone: 800-834-2101

Click here to reach KT  

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money 

Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, KT discusses:

The current real estate trendRecent change in taxes for 2018Rise in the higher market interest rate 

Key Takeaways:

Homes went up 5.7 percent last yearDon't go house brokeMortgage rates are starting to go up 

"If you are thinking about buying a house, think now vs. two years from now." - KT Thomas

Real Estate Numbers- realtor.com

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In this episode, KT and Rachael Ela discuss:

Steps that you shouldn't skipTypes of accounts to open for your businessUnderstanding your bank's funds availability policyThe expense of going too fastKey Takeaways:

Find an attorney, find an accountant so that you give your business a strong financial foundationMost banks will allow you to start out with a simple account and upgrade it as your business growsWhen you write a check, you've got to have those funds ready and available in your account at the time you cut the checkWhen you're considering a business line of credit, your bank will ask you questions like "Why do you need this line of credit and when will you draw on it?""Just like personal accounts, there are a huge amount of options out there for businesses." - Rachael Ela

About Rachael Ela:  Rachael Ela is the Vice President and Branch Manager of Optima Bank & Trust, working in the Stratham, NH market. She has over 18 years of banking experience and has spent the last seven in the New Hampshire market working with local business owners, municipalities, and nonprofits. Rachael currently serves as Chairwoman of the Exeter Area Chamber of Commerce, a board member of the Exeter Society of St. Vincent de Paul Community Assistance Center and is a Past President and Paul Harris Fellow of the Exeter Rotary Club. She is a graduate of the New England School of Financial Studies at Babson College and resides in Exeter.

Reach Rachael Ela:

Business: Optima Bank & Trust

Website: www.optimabank.com

Reach KT Thomas:

Website: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money

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In this episode, KT discusses:

The type of people who buy gym membershipsThe challenges of cancelling your gym membershipThe yearly cost of average gym memberships 

Key Takeaways:

It's hard to cancel membershipsPeople pay for a membership they don't use because they hope to come backBe a little forceful in cancelling your membership"They do everything they can to keep you paying. And pay we do." - KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money

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In this episode, KT and Rachael Ela discuss:

Banking feesThe cost of not paying attentionBanking in 2018Properly using overdraft protectionKey Takeaways:

The FDIC now requires banks to track what people are spending on banking (the first quarter of tracking totaled to 7.4 billion dollars spent)If you're writing a check or making a payment, you need to have that money in your account at the time of the paymentOverdraft protection is a credit line — it's something that automatically sweeps over when you need itIt's important to look at your accounts/statements and see if you're using your accounts properly 

"The financial system, in general, moves a lot faster than it used to last year, five years ago, and definitely twenty years ago." - Rachael Ela

About Rachael Ela:  Rachael Ela is the Vice President and Branch Manager of Optima Bank & Trust, working in the Stratham, NH market. She has over 18 years of banking experience and has spent the last seven in the New Hampshire market working with local business owners, municipalities, and nonprofits. Rachael currently serves as Chairwoman of the Exeter Area Chamber of Commerce, a board member of the Exeter Society of St. Vincent de Paul Community Assistance Center and is a Past President and Paul Harris Fellow of the Exeter Rotary Club. She is a graduate of the New England School of Financial Studies at Babson College and resides in Exeter.

Reach Me Here: Rachael Ela

Business: Optima Bank & Trust

Website: www.optimabank.com

Reach Me Here: KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT's book- The Hardworking Woman's Guide to Money

Learn more about your ad choices. Visit megaphone.fm/adchoices