Life is Life!

Child abuse. Warfare. Assault. A devastating accident. If you have endured one or more life-threatening events, you may be more likely to make destructive money decisions.

Researchers discovered that post-traumatic stress alters the way a person thinks and reacts to situations, including financial behavior. In other words: “Traumatic experiences cause our brain to overreact. They force us into a stress mode where we are compelled to take action as a protective measure."

One of the most common ways our financial stress manifests is in the form of oppressive credit card debt. 

Having overcome homelessness, domestic violence, health issues including paralysis and extreme pain, Kylie Travers knows firsthand how difficult life can be and joins us to share exactly how she changed her mental mindset and improved her financial situation several times over the years.

About Kylie Travers
Kylie Travers is based in Melbourne, Australia with her two young daughters. She went from homeless single mother to multiple international award-winning CEO, author, speaker, and ambassador in the space of a few years.

Connect with Kylie on her website The Thrifty Issue. Or on Facebook, Twitter, or Instagram.

About The Show
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.

To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.

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Life is slowly starting to go back to a new state of normal, but many of us are still under strict social distancing orders and are required to wear face masks.

While many of us felt our lives were turned upside down when the coronavirus pandemic shutdowns first began to happen, now that we're three-months or so into the stay-at-home orders, have you begun adjusting to working, eating, playing, and living from your home?

Have you noticed any changes in your budget?

• Are your groceries costing you more?
• Have you been ordering take-out more frequently?
• Are you buying items you normally wouldn't purchase?
• Has your clothing budget gotten out of control with loungewear and yoga pants?
• Are you saving more money?

We chat about all this and more in our Quarantine Update #2.

About The Show
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.

To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.

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Are you planning on adopting a dog or puppy? What exactly does it take to be a successful puppy parent ie how much exactly is this going to cost me each year? Month? Week?

Maybe you already have a pet and are not entirely sure how much money you're spending on your four-legged friend each month? Or are recently struggling to afford dog food or medical bills during the coronavirus stay-at-home orders.

Joshua Prater is the Medical Director and co-founder of Baja Dog Rescue. He joins us to share how to realistically set a budget for your puppy, the benefits of health insurance for dogs, budget-friendly meals you can buy or make-at-home, and more!

Donations for Baja Dog Rescue:
•PayPal – [email protected]
•Donate Button at the top of our page orFacebook.com/Bajadogrescue.org or at the bottom of this post.
•Online –Baja Dog Rescue
•Venmo –@bajadogrescue.org
•Zelle – [email protected]
•Mail – Baja Dog Rescue P.O. Box 437920, San Ysidro, California 92173

About Baja Dog Rescue
Baja Dog Rescue is a 501c(3) non-profit organization that is run by a group of dedicated volunteers that rescue and rehabilitate unwanted, abandoned and neglected dogs and find them loving happy homes. We are a No-Kill animal rescue and we literally give them a second chance at life. Each one of our dogs is socialized, spay/neutered, vaccinated, and treated for any medical or behavioral conditions.

About The Show
To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.

To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.

Support the show

Were you planning a wedding this spring or summer that was affected by the mandatory coronavirus stay-at-home orders?

Maybe you were planning on attending a wedding this year but are now unsure of the Bride and Groom's plans?

Or maybe you're not sure what the happy couple plans to do yet, but want to continue with your plans to shower your loved one with a party in their honor but don't exactly know how to go about doing just that?

The Budget Savvy Bride's Jessica Bishop joins us to talk about how the coronavirus has impacted the wedding industry and shares budget-friendly tips if you want to move forward with your big day.

About The Budget Savvy Bride's Jessica Bishop
Jessica Bishop is the creator of The Budget Savvy Bride, the #1 online resource to help couples plan a beautiful wedding on a budget they can actually afford. By sharing practical tips, personal advice, doable DIY projects, and approachable inspiration, The Budget Savvy Bride educates, equips, and empowers couples to plan a wedding they are proud of and that truly represents their values. Jessica has been nationally recognized as a Budget Wedding Expert and has shared her money-saving tips and tricks with outlets such as BRIDES, About.com, Glamour, Cosmopolitan, Huffington Post, and more. Jessica's first book, The Budget-Savvy Wedding Planner & Organizer is available on Amazon.

About The Show

To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.

To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.

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For about two months now, the Talk Wealth To Me team has been working remotely as part of the global effort to lessen the transmission of the highly-contagious coronavirus. 

With stay-at-home orders still in effect for most of the U.S., many Americans continue to find ways to entertain themselves from within the confines of their home. Others of us are working remotely from home while simultaneously trying to ensure our kids are learning and meeting virtually with their teacher at the correct time. With this increased reliance on internet and electricity, some of us may have been a little surprised to see just how much some of our bills increased recently.  

Thankfully, there is help:

• Federal Communications Commission’s “Keep Americans Connected Pledge.” For the next 60 days, these companies promise not to terminate service and will waive late fees caused by the coronavirus pandemic. They are also opening their Wi-Fi hotspots to any Americans who need them.
• Some state and city regulators across the U.S. have started directing utility companies (gas, water, and electric) to suspend shutoffs for customers struggling to pay their bills. Contact your utility company and negotiate relief before your bill is due if you’re experiencing hardship as a result of COVID-19.

What other financial relief options are available to those with a mortgage? Student loans? And what about protections for your credit report?

We'll chat about this and check-in with Felipe, Chase, and Katie to see how it's going for our team at home. 

To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.

To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.

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COVID-19 has dominated the headlines for months now. As we all adapt to our new "normal," many of us may be feeling a little extra stress recently, especially when it comes to our finances.

Marriage and Family Therapist Ed Coambs, MA, MBA, LMFTA, CSAT-C, CFP, who also specializes in financial therapy, joins us to discuss how the Coronavirus has created financial stress for us, where this stress is coming from, health steps we can take to reduce the impact of this financial stress, and more!

Want to learn more about Ed Coambs? Visit his practice website or check out this blog on financial infidelity from DebtWave Credit Counseling.

To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.

To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.

Support the show

As of March 26, 2020, the U.S. Senate has passed legislation that would include a one-time payment of $1,200 to Americans earning less than $75,000. Income levels will be calculated based on 2019 tax filings. If you have not yet filed your taxes, your stimulus check will be dependent on your 2018 tax filing.

Larry Campbell, a CPA at the San Diego-based Lavine, Lofgren, Morris & Engelberg, LLP, joins the Talk Wealth To Me crew for an explanation on the stimulus checks set to go out to American consumers.

How Much Money Should I Expect?

• Americans who earn less than $99,000 but more than $75,000 will be given a smaller one-time payment.
• Individuals earning $99,000 or more will not be given a one-time payment.
• Married couples filing jointly who earn a combined $150,000 or less will be given a $2,400 one-time payment.
• Individuals and couples with children could qualify to receive additional financial assistance.

Some Important Notes & Links:
*To check the status of your stimulus check, please visit the new Get My Payment website from the IRS. You can access that page here. Please note that the website is experiencing a high volume of traffic, please refresh the page or wait a few minutes and check back.

*If you do not file taxes, there’s a direct deposit portal now available for you to input your information so you can receive a stimulus check sooner than later. You can access the portal here.

*As of April 2, the IRS reported that Social Security recipients no longer need to file 2018 or 2019 tax returns in order to receive their COVID-19 stimulus checks.
 

About the Show
Comments, questions or suggestions for the show? Email us at [email protected].

To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.

To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.

Support the show

In a matter of weeks, the coronavirus oftentimes referred to as COVID-19, has dramatically changed life as we know it around the world. Large hotel chains and restaurants have laid off or furloughed hundreds of thousands of employees. For many small business owners, adjusting to "stay-at-home" mandates has dramatically hurt business and some fear they may never recover.

There is good news however. The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion in forgivable loans to help small businesses stay afloat during the COVID-19 crisis.

Larry Campbell, a CPA at the San Diego-based Lavine, Lofgren, Morris & Engelberg, LLP, joins the Talk Wealth To Me crew for an explanation on what exactly the PPP program is, who benefits from it, the conditions on the loans, and more.

WHO QUALIFIES?

• Small businesses with 500 or fewer employees can apply for loans through the Paycheck Protection Program (PPP).
• Small businesses in the hotel and food-service industries, including franchises, may qualify even if they have more than 500 employees.
• One loan is granted per business. A taxpayer identification number is required.

HOW MUCH CAN I GET FROM THE PPP?

• The maximum loan amount is $10 million under the PPP.
• The amount of money a small business will be eligible for is dependent on how long they remained operable between February 15 – June 30, 2020, and how much they spend on payroll.
• The maximum loan amount will be 250% of the average monthly payroll costs during that period.
• Businesses that were not open or out of business after February 15 will receive a maximum loan amount 2.5 times their average monthly payroll expenses for both January and February.

WHAT ELSE SHOULD I KNOW ABOUT THE PPP?

• All loans have a 1% fixed interest rate

 
About the Show
Comments, questions or suggestions for the show? Email us at [email protected].

To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.

To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.

Support the show

Chase and his family recently purchased a new truck. Despite all of the research Chase put into his new truck, he ran into some difficulties just a few days after buying his new truck. Namely, a sound so jarring, he wasn't comfortable letting his kids ride in the car farther than two blocks.

In this episode, The Talk Wealth To Me group talks about why it's important to research purchases before making them and how that research time could give you some ideas to make your money go further.

So what exactly happened to Chase's new ride? You'll have to listen to the episode to find out!

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As coronavirus aka COVID-19 spreads around the globe, many individuals, families, and businesses are struggling to figure out our new world in all the chaos.

Many of us are likely experiencing financial stress. What exactly is financial stress? It's the gap between the unknown and reality smacking us in the face.

While there are many uncertainties remaining, there are steps we can take to lessen the stress of the current unknowns.

Regardless of your current employment situation, review the following three scenarios for your family’s financial situation to determine your financial fuel. Financial fuel is the amount of money you have leftover after paying your expenses/spending.

Make a list of your expenses and consider the following impact to your budget based on the following changes to your pay. 

• No change in income
• 30% pay cut
• Furlough/layoffs 

For example, if you and your partner took home $3,500 per month in income, but your expenses were also $3,500, this is what your pay changes may look like based on the three scenarios:

• No Change in Income - $0 
• 30% pay cut (-$6,300 loss after 6 months)
• Furlough/Layoffs (-$21,000 loss after 6 months)

Keep in mind for every 1 bad month we have financially it takes about 3 months of financial recovery time.

If you have lost your job, are worried your position or industry is not stable, or if you do not have an emergency fund, there are steps you can take to fill the gap.

4 Ways to Fill Gap

1. Side Hustle/ Cut Expenses (Want to increase financial fuel by 10-20% if possible)
   1. Unemployment (varies by state)
   2. Government checks (dependent on income & government legislation)
   3. Steady App (App Store - shows by zip code various side hustles)
   4. Cash in rewards points (credit cards, bill credit, gift cards)
   5. Sell talent or stuff
      1. Fiverr
      2. Upwork
      3. Cut expenses: Review housing payments, student loan payments, retirement contributions, entertainment/eating out budget
2. Assess savings 
   1. Emergency fund / Savings
   2. Checking
   3. Savings
   4. Vacation Fund
   5. Down Payment Fund
   6. Brokerage Account (Acorn, Charles Schwab, TDA)
   7. Retirement
3. Prioritize Payments (buy yourself time)
   1. Make a list of:
      1. Required bills
         1. Call and ask about COVID-19 policy for every bill. 
            1. Ask about fees/interest
            2. What programs are available? How long?
      2. Non-recourse deferments
      3. Recourse deferments
      4. Anything else (misc)
4. Borrow Debt (lowest/safest)
   1. If you need to borrow, borrow from a safe lender first
      1. Payment deferred
      2. Home equity
      3. Credit union loans
      4. 401 k loans
      5. Credit card
   2. Avoid:
      1. Payday loans
      2. Predatory lending
      3. Pawnshops

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