Money Talks

We’ve made it to April in 2021. We’ve got some IRS tax tips to share, some April buy and not to buy suggestions. But this is just chit chat between your calls and emails. It’s an Open Topic show.

In the News:

• IMF forcast for global growth
• Yeld curve

Observances in April:

• Fair Housing Month
• Financial Literacy Month
• National Financial Capability Month
• National Internship Awareness Month
• Money Smart Week - April 10-17, 2021
• Global Work From Home Day - April 10
• International Financial Independence Awareness Day - April 25

Ways to gain financial literacy:

• Bogle On Mutual Funds: New Perspectives For The Intelligent Investor (Wiley Investment Classics) John C. Vogel book
• https://www.investopedia.com/
• https://twitter.com/LizAnnSonders
• http://moneytalks.mpbonline.org/
• their book P.I.G.G.Y. Plan-It: Prudent Investors Get Going Young 
• MSU extension service - guest on podcast for Dec 22, 2021
• Get Good with Money: Ten Simple Steps to Becoming Financially Whole by Tiffany the Budgetnista Aliche
• New Perspectives website and twitter@NewPerMS

IRS Tweet Tips - see cute puppies and funny graphics in their twitter feed: https://twitter.com/IRSnews

Income taxes due: May 17, 2021 for federal and state returns

What to buy and not buy in April?

Do Buy

• Car Parts and Accessories: April is National Car Care Month, so auto parts stores and service centers will be running promotions. Even if you don't need any major work done, it's usually a good time to take a vehicle in for a tune-up; check brakes, wipers, and tires; and shop for car accessories.
• Jewelry: Bling just might be the thing to buy in April. With the Valentine's Day bump a distant memory, jewelers are ready to compete for tax-refund money by offering low prices to get customers in the door.
• Mother's Day Gifts: Speaking of jewelry, early April is also the moment to get a head start on Mother's Day shopping. You can lock in a good price on flowers by ordering a month in advance. Take advantage of deals on chocolate and other treats after Easter. Mass-market chocolate will quickly go on sale but you might also find discounts from higher-end brands like Godiva, too.
• Home Improvement Supplies: With spring in the air, many do-it-yourselfers are ready to tackle some projects they let slide over the winter. While demand is high, so is competition, making it possible for enterprising homeowners to snag some great deals this time of year. Deals have covered everything from lawn mowers to mulch to patio furniture.
• Spring Apparel: Retailers are ready to clear out spring apparel to make room for summer duds. That means shoulder-season clothing — think jackets, lightweight sweaters, and long-sleeve T-shirts — will be going on sale.
• Cookware: Retailers typically feature April promotions on pots, pans, and cooking tools in time for bridal showers, weddings, and college graduations and Mother's Day.
• Secondhand Goods: Spring cleaning yields loads of donations to thrift stores, so take a break from your own chores to check out a fresh array of secondhand clothing, home decor, and other deals from stores. Smart thrift-store shopping tips include buying off-season for the best selection. Vintage clothing is always in style, and cheap home decor and pieces can often be repurposed.
• National Park Trips: National Park Week runs from April 17-25, and there are plenty of ways to celebrate, including free admission to any national park on April 17th! Visit the National Park Service website to search for special park events happening near you.

Don’t Buy

• Skip: Grills - Although outdoor temperatures are climbing and many people are itching to barbecue, waiting until July or August to buy a cheap grill pays off.
• Skip: Mattresses - Mattresses seem to be perpetually on sale, but with no "shopping holidays" in April, they're less likely to be discounted. If you can hold off, you'll find much better mattress deals once Memorial Day rolls around at the end of May.
• Skip: Kitchen appliances : Appliance deals abound during Memorial Day sales in May, so if you can, let April come and go before you buy a refrigerator, a dishwasher or even a smaller kitchen appliance like a blender. Memorial Day is May 31 this year, but we predict sales will start a few days before the holiday and extend a few days after. Memorial Day appliance sales traditionally take place at home improvement stores such as Lowe’s and Home Depot.

Calls:

• corporate value and minimum wage
• social security and working after 65

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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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It’s time to review all the topics we’ve covered on Money Talks in the past 12 months. If you’ve missed any episodes, we’ll give you the flavor of some of the episodes so you can find the ones that interest you on our podcast. 

Last Spring, we talked a lot about current events each week. We had guests from the Mississippi Department of Employment Security, we talked about fraud and the Cares Act and the Economic Impact Payments.

We had a guest from Edmunds dot com talk about new car buying. A guest from the National Foundation for Credit Counseling. The executive director of Mississippi Food Network.

Nancy remarked on the information that MDES gave us so often and so willingly for the first of three shows on 04/07/20.

Kevin like the car buying show on 04/28/20 and fraud show on 04/14/20 that we were able to share with our listners.

Producer, Liz, like the MS Food Network information from 06/02/20.

In the Summer and Fall we had less Open Topics shows and more personal finance broadcasts. We recapped those organization providing pandemic financial assistance.

We discussed different types of investment professionals, day trading, money saving tips, credit cards, the S and P 500, and mindful spending.

We had guests discuss Social Security, home buying, flexible jobs, the Census, MDES, bankruptcy. Our Mississippi Treasurer talked about his agency.

Nancy talked about the finanical videos she and her husband made during 2020. Also the Real Estate Investment broadcast on 11/17/20

Kevin remarked on the helpfulness of Shawn Mercer from Social Security on 07/07/20 and our Mississippi Treasurer on 09/15/20.

Liz, enjoyed the money mindfulness broadcast on 10/27/20.

From the holidays to now, Money Talks covered: CDs, cutting expenses, the baby steps of investing, stock fragments, GameStop, free goods and services, and minimum wage. Our guests helped us talk about real estate investment, community foundations, more Social Security, financial education available from the Extension Service, more MDES, and student loans.

Nancy talked about the listener driven inspiration for our minimum wage broadcast on 03/16/21.

Kevin liked the investing baby steps from 01/19/21 and cutting expenses show on 11/24/20 for "starter" shows for listeners.

Liz like learning about the education opportunities from the Extension Service on 12/22/20.

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There’s been talk but no action on raising the federal minimum wage. On a recent Money Talks we had some passionate callers express their opinions on the minimum wage. We’d like to discuss the topic for the full hour today – between your personal finance questions. Our guest today is State Economist Corey Miller. http://www.mississippi.edu/urc/

Calls:

• Automation instead of workers
• Impact on retired workers
• Living wage
• Different amounts for different areas
• Government assistance
• Wage substitute
• Livable

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Do you still have student loans? Do your grandchildren have student loans? Our guest today is Bruce McClary from the Nation Foundation for Credit Counseling. We’ll learn how the pandemic is affecting student loans and what to expect for those about to enter higher education.

Call the Nation Foundation for Credit Counseling about student loans at 1-877-406-6322 or the general number 800.388.2227 https://www.nfcc.org/who-we-help/student-loan-borrowers/

Discussion:

• You can stop paying on your student loan until Sept. of 2021. Or direct your payments to principal only for federal loans. No benefits for private loans.
• Check your annual credit report to see that your loan amount is being accounted for correctly. FREE CREDIT REPORTS AVAIALBLE WEEKLY UNTIL 04/2022
• Student loan benefits may be in unpassed legislation.
• Income driven repayment options
• Public service loan forgiveness options
• More information at https://studentaid.gov/ where you can find a student loan simulator to determine the best repayment program for you.

Calls:

• forgivenss on interest? (no, just principal)
• want a job with a security clearance - manage your money well
• interest on interest

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If you’re a regular listener to MPB Think Radio, you are a regular listener to news stories. Today, our experts are going to translate those news stories to how that information affects you – in Mississippi. 

Income tax, stimulus payments, minimum wage

• retail sales collections
• special perpose acquisitions
• new Treasury Secretary
• cryptocurrencies
• Income tax phase out
• the next COVID relief - enhansed unemployment benefits extended and increased, $1400 stimulus checks
• $15 mimimum wage

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Guests: MDES Executive Director, Jackie Turner, Deputy Executive Director-General Counsel, John Garrett, and Director, Office of ReEmployment Assistance, Erma Cook

Hosts: Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute.

https://mdes.ms.gov/ 601-493-9427

There is no fee for Unemployment Services through MDES. They do not solicit payments on social media and employees are prohibited from using social media to assist customers. If you are asked to pay a fee for these services, DO NOT PAY the fee and report this to MDES.

If someone filed an unemployment claim using your information report this immediately to MDES. Beware of scams aiming to steal your personal information. Claimants should only use the agency’s official website: mdes.ms.gov to give out personal information. 

Some customers were issued additional benefit payments in excess of the amount to which they were entitled. Those affected have been issued a notice of overpayment. You are entitled only to benefits for which you are eligible. You must repay all benefits that are overpaid even if you were paid in error. Overpayments are legally enforceable debts.

• Federal Pandemic Unemployment Compensation (FPUC) program
• Pandemic Unemployment Assistance - PUA 
• Pandemic Emergency Unemployment Compensation (PEUC)
• Mixed Earner Unemployment Compensation
• WIN Job Centers 

• credit card offers
• taxes on unemployment
• re-use prospective unemployers
• opening financial accounts for minors
• tax forms
• Ticket to Work
• unemployment appeal
• how long does unemploment last
• Innovate MS for job resources
• can not contribute to an IRA with only unemployment income
• keep records

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Everyone likes free. Some folks need free versions of services or items. We’re working off a list from MSN 27 Things You Should Never Pay For — and How to Get Them for Free

• Birthday meals: 20 Restaurant Chains That Offer Free Food for Your Birthday 
• Through April of 2021, you can get free credit reports from Equifax, Experian and TransUnion as often as once a week.  https://www.annualcreditreport.com/index.action
• Credit cards: The words to look for: No annual fee. https://www.creditcards.com/ https://wallethub.com/credit-cards/no-annual-fee/ https://www.creditkarma.com/credit-cards/no-annual-fee
• Stream entertainment for free. 15 Free Streaming Services to Watch
• Don’t forget MPB television is available all over the state for free. If you need help adjusting your antenna for better reception the technical service folks here at MPB can help you with that over the phone if you call the front desk during business hours (601) 432- 6565
• To see the free over-the-air channels available where you live, enter your address at the Federal Communications Commission’s “DTV reception maps.” https://www.fcc.gov/media/engineering/dtvmaps
• You can get free products at dollar stores. Deal blogs like Moola Saving Mom, The Krazy Coupon Lady and CouponMom.com do it for you scour all the coupons available out there and determine which coupons are for items sold at chains like Dollar Tree. The result, known as “coupon matchups,” is basically a list of current coupons that you can redeem at particular dollar stores. While the lineup varies from week to week, you can expect to find free stuff regularly. We’ll have links to these blogs on our website. If you come across free items that you can’t use, consider donating them to a local charity. 
• the National Park Service offers free admission on a handful of days scattered throughout the year. 2021 the free days are: April 17: First day of National Park Week, August 4: One year anniversary of the Great American Outdoors Act, August 25: National Park Service Birthday, September 25: National Public Lands Day, November 11: Veterans Day https://www.nps.gov/planyourvisit/fee-free-parks.htm
• Free passes that are avaliable: The Volunteer Pass, A new pass program grants U.S. military veterans and Gold Star Families, The Annual 4th Grade Pass, A new voucher is now available for 5th grade students for the rest of the school year! https://www.everykidoutdoors.gov/index.htm
• Trace your genealogy for free.10 Ways to Research Your Family Tree for Free Many libraries have subscriptions to ancestry.com where you can look up census records and hook up with others researching their families. The Mississippi Department of Archives and History has a website dealing with genealogy. Their staff can tell you what’s available to look at in person at their headquarters in Jackson.  https://www.mdah.ms.gov/genealogy
• After your next checkup, ask your dentist if they have any wrapped toothbrushes, paste and floss to give you that they receive for free from manufacturers. If you don’t use them they’re great to keep for visiting friends or donate to local organizations. 
• Money management tips: What ATMs can you use for free? Does your bank reimburse ATM charges. Learn how you can avoid trading fees if that is of interest to you. Charles Schwab, E*TRADE, TD Ameritrade, Fidelity and Vanguard have announced $0 commission trades on stocks and exchange-traded funds (ETFs).
• LinkedIn Learning offers its catalog of online courses free to patrons of participating libraries. There are 13,000 courses available. So, ask your library if it partners with LinkedIn Learning or similar services.

What is the Black Swan?

Black swan events can cause catastrophic damage to an economy by negatively impacting markets and investments, but even the use of robust modeling cannot prevent a black swan event. The term was popularized by Nassim Nicholas Taleb, a finance professor, writer, and former Wall Street trader in his 2007 book titled The Black Swan.

Webinar: Tuesday, February 9, 2021 | 6:00pm CDT

RSVP to attend this event

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Our experts discuss the saga of GameStop stock. With information about:

• The IMF
• CBO
• silver market
• bubbles: displacement, boom, uphoria, profit taking, panic
• short sells
• hedge funds
• retail investors
• collusion
• Robinhood and the funds they have on hand

Calls about:

• mutual funds and how "big" is GameStop
• owning part of a company
• earning per share
• where to buy savings bonds: banks
• comment

Will there be Congressional investigations?

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Our financial advisors Dr. Nancy Lottridge-Anderson and Ryder Taff teach us about stocks and fragments of stocks.

And a discussion of Game Stop! https://www.cnbc.com/2021/01/26/gamestop-shares-are-jumping-again-but-short-sellers-arent-backing-down.html

• What is a stock?
• Where do you buy them?
• Buying slices of a stock
• Changes in investing
• What can you buy a slice of?
• Recordkeeping
• IPO
• Chicago Board of Trade

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