Money Talks

New Year means a new start for good habits. Let’s talk about your money plans for 2022. What are your savings goals? Your retirement contribution goals? Do you have a budget to help you achieve these goals? 

• News
• If you receive extra money
• New financial contribution limits
• Look over last year's financial plan
• Budget

Is eating out “eating” into your ability to save? By planning meals to eat at home or bring from home, you might be able to put more money towards savings or retirement.

Apple TV plus, Amazon Prime Video, Disney Plus, Netflix, HBO Max, Paramount Plus, Peacock, Hulu, Discovery Plus. Do you pay for each of these? Some of these? What could you do without to save money each month?

Do you still need life insurance now? Is your car over insured? Is your homeowner’s insurance at the correct amount? Take some time to check over your insurance to see if you can save yourself some money.

Podcast just on budgeting. Look for that from September 17th of 2019.

http://moneytalks.mpbonline.org/episodes/money-talks-budgets

Calls:

• who are these suggestions for
• returning item bought on credit card
• tax advantage of gifts
• long term care
• life insurance

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Money Talks wants to help you today to Prepare Before the Storm. That “storm” might be weather, economic, or family issues. We’ve got some websites and some suggestions.

New Perspectives blog posts: https://newper.blogspot.com/

Financial Resilience And Mutual Aid Saturday, February 20, 2021

On Preparedness Friday, February 19, 2021

In the News:

• PPP loans expanded
• Job losses going down
• Suez Canal ship stuck
• Non-fungible tokens

Emergencies savings for loss of income, vehicle replacement, medical care

Resilient Budgets

Where to keep funds

Emergency Financial First Aid Kit https://www.ready.gov/sites/default/files/2020-03/ready_emergency-financial-first-aid-toolkit.pdf

Be Prepared For A Financial Emergency 

https://www.ready.gov/sites/default/files/2021-01/ready_financial-emergency_info-sheet.pdf

Calls:

• start saving early - be a part of your community
• Community Emergency Response Team https://www.ready.gov/cert

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If you are a renter or a landlord, you'll particularly want to listen today’s Money Talks. Our guest is the Executive Director for Mississippi Home Corporation. Scott Spivey talks about the agency and the grants available to Mississippians who can’t pay rent during this pandemic. He discusses programs for first time home buyers and rehabilitation assistance. Our expert hosts are also available to answer personal finance questions. https://www.mshomecorp.com/ https://www.newper.com/

RAMP – the rental assistance program. It’s for those impacted by COVID-19 - renters and landlords

www.ms-ramp.com     If you need assistance or wish to speak to a representative, call 601-533-8401 (local) or 1-888-725-0063 (toll-free)              **Harrison County received its own funds for rental assistance. If you are a resident of Harrison county and wish to apply, you must call the Open Doors Homeless Coalition at 228-604-8011.

Trailers too!

The Emergency Solutions Grant COVID-19 (ESG-COVID) program created by the CARES Act funds is designed to prevent and respond to the coronavirus pandemic (COVID-19). Individuals and families who have been laid off or have current income under 50% of area median income (AMI) and individuals who are homeless or receiving homeless assistance are eligible to receive funds. https://ms-ramp.com/esg/

Twitter: https://twitter.com/MSHomeCorp https://twitter.com/NewPerMS https://twitter.com/MPBOnline

First time homebuyers assistance

Youth Drawing Competition

Partnerships with developers

In the news:

• COVIF-19 funeral assistance from FEMA https://www.fema.gov/disasters/coronavirus/economic/funeral-assistance
• COBRA subsidy during pandemic https://www.natlawreview.com/article/new-covid-relief-act-provides-cobra-premium-subsidies-and-increased-exclusion

Calls:

• annuity
• mortgage assistance
• PPP loans through your bank

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Do you have a question about recent financial news? Do you have a question about your own person finances? Today’s a great day to contact us. It’s an Open Topic Day. 

• The pause on student loan repayment initially put into place under former President Donald Trump and twice extended by Biden is set to expire on Jan. 31. 
• The last of the child tax credit from the American Rescue plan were sent out last week. 
• The Federal Reserve said last week that interest rates will stay near zero for now.
• “10 Surefire Tax Tips For Year-End 2021” https://www.forbes.com/sites/ashleaebeling/2021/12/08/10-surefire-tax-tips-for-year-end-2021/?sh=ed7aed61bfc3
• January typically has discounts on bedding and linens, fitness equipment, and TV and electronics – those just before the Super Bowl. https://www.nerdwallet.com/article/finance/what-to-buy-every-month
• Many of the nation’s largest banks are cutting overdraft and non-sufficient funds fees for customers in 2022. Lawmakers and regulators have criticized banks for penalizing already cash-strapped customers.

Explaining Dot Plot: https://www.bankrate.com/banking/federal-reserve/federal-reserve-dot-plot-explained-how-to-read-interest-rates/

Federal Reserve: https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20210922.pdf

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Money Talks likes to go back and forth on it’s topics. One week we have financial information for money novices; another week we cater to sophisticated investors. Today we’ll learn about “multiples”. 

• Stock multiples
• After you calculate a company’s financial ratio, what do you do then? 
• Enterprise value multiples and equity multiples
• What would we want to know about the company “Kevin’s Sneakers” to evaluate its stock price?

Calls:

• TIPS
• IRA funds to charities
• RMD age

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Money Talks expert hosts are Chartered Financial Analysts from New Perspectives. They’ve posted a new blog on their website new per.com

Money Talks can be heard live on MPB Think Radio Tuesdays at 9am. Or listen to the podcast.

Our website is moneytalks.mpbonline.org.

Our home is the physical center of our lives. It shelters us. It houses our possessions. It's where we spend time when we have no where else to be. It can even be where we put together a family baseball game! Many of us are buying, remodeling, building or have dreams of doing these things. All of these are investments of our time, energy, money, and future. But, are they adequately protected? Maybe not.

Most people believe house insurance has but one question: Do you have it? Yes? Ok, I'm good to go. But, are you? I realize it's not leisure reading to sit down with your homeowner's insurance policy and read through it. It's not a novel. It's more of a gameday playbook you should be familiar with. It can be understood. But, it helps to have some coaching and practice. 

There are pieces to a homeowner's policy that you should educate yourself about.

• Do you know how your insurance company will determine what to pay on a claim?
• If you remodel your home, you may need to increase your insurance coverage. Did you know that if something happens to your newly remodeled home, your insurance company may deem your home underinsured and would pay less in the event of a claim?
• Your homeowners insurance protects your other assets too. If your dog gets too excited and accidentally injures someone on your daily walk, does your policy adequately protect your savings and investments?
• Or, maybe you are considering a pool for next summer. How will that affect your coverage? Or if you do put together that family baseball games and someone gets hurt, are you covered? 

If you can't answer these questions, or you do not feel thoroughly confident in your home insurance facts, now is the time to change that! Visit your trusted insurance agent, then schedule time with someone at New Perspectives. While we do not sell insurance, we can help you decide the coverage that best protects your home, your peace of mind, and your financial future. So, you can feel SAFE at your home base!

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Is paper cluttering up your home? Does it add to your stress rather than give you financial comfort? We’ll talk today about what important documents you should keep and for how long.

• Where to store paper
• Where to store digital
• Tax returns and supporting documents
• Pay stubs, bank statements, credit card statements
• Utility bills
• ATM receipts
• Home purchase records
• Home mortgage records
• Rental records
• Brokerage statements
• What to keep forever
• What else to keep
• Dispose of paper
• Safe digital records

IRS Topic number 305 Recordkeeping https://www.irs.gov/taxtopics/tc305

Suggestions from Ryder:

https://www.macrumors.com/2021/12/06/life360-selling-location-data-of-millions

https://gizmodo.com/verizon-may-have-just-enrolled-you-in-a-data-collection-1848156157

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Why do YOU give to charities? Our crew will give their reasons while you think about yours and think about any questions, you’d like to ask our Chartered Financial Analysts about making charitable donations or any personal finance question that comes to mind.

Extra reading: https://www.usa.gov/donate-to-charity

https://www.fbfs.com/learning-center/6-surprising-facts-about-charitable-giving

Scams 3/13/2018 http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d8c

Community Foundation 12/01/2020 http://moneytalks.mpbonline.org/episodes/money-talks-community-foundations

Giving Tuesday 2019 12/03/2019 http://moneytalks.mpbonline.org/episodes/money-talks-giving-tuesday-2019

2018 http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d67

Charity Fraud with then Secretary of State Delbert Hosemann 09/26/2017 http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607da0 

2016 http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607dbf

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https://newper.blogspot.com/2021/11/your-spending-and-your-values.html

Money Talks expert hosts are Chartered Financial Analysts from New Perspectives. They’ve posted a new blog on their website new per.com

Money Talks can be heard live on MPB Think Radio Tuesdays at 9am. Or listen to the podcast.

Our website is http://moneytalks.mpbonline.org/

Email us your questions: [email protected]

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Do you dream of retiring from your job? No so fast. We have a list of boxes to “check off” in the decade before you make this dream a reality. The final decade before retirement is an opportunity to strengthen a retirement plan and tie up any remaining details that can help secure your future. 

Brighthouse Financial published an article that will be our guide for our discussion today: A Checklist for the Decade Before Your Retirement Date   https://www.usatoday.com/interactives/sponsor-story/brighthouse-financial/a-checklist-for-the-decade-before-your-retirement-date/

Our experts discuss their suggestions:

1. Review your savings.
2. Adjust your investment mix.
3. Make a plan to pay off debt.
4. Estimate retirement expenses.
5. Examine options to cover medical costs
6. Develop a retirement income plan.
7. Review options for Social Security.
8. Develop a plan for enrolling in government benefit programs. 

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