Reduce Debt Increase Wealth

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Planning is an ongoing process that must be review and updated every year. It only takes a few minutes to do this but is important as things may have change over time.

Article Links:

https://www.nerdwallet.com/article/investing/what-is-a-financial-plan By Kevin Voigt, Alana Benson

 The 5 Times When You Should Review Your Financial Plan | Kiplinger by: Eric Roberge, Certified Financial Planner (CFP) and Investment Adviser

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Once the budget is set and perfected than it can be used to plan for a new loan, retirement, investing or saving for that new home, wedding, child or automobile.

Article Links:

 A Better Way to Budget: The Fiscal Fitness Plan Ahead Method (fiscalfitnessphx.com)

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Should you use a Home Equity line of credit HELOC what are the benefits and disadvantages. Maybe an Equity loan is a better way to improve the home. Personal loan line of credit is another option maybe but will cost more interest.  

 Article Links: 

 https://learn.financestrategists.com/finance-terms/loc/equity-line-of-credit/ by True Tamplin, BSc, CEPF®

 https://www.experian.com/blogs/ask-experian/best-and-worst-ways-to-use-heloc/  by Karen Axelton

All episodes are now on Facebook  go to ReduceDebtIncreaseWealth.com in Facebook and look to the podcast tab.

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The FIRE movement is strong with the younger generation wanting to retire early. Maybe at age 35 to 40 is this possible and how is it done. Then what will a person do in retirement, most likely work of some kind.

 Article Links:
 https://www.playingwithfire.co/whatisfire 

https://www.businessinsider.com/personal-finance/why-ditched-traditional-fire-movement-2021-6 By Michelle Jackson

All episodes are now on Facebook  go to ReduceDebtIncreaseWealth.com in Facebook and look to the podcast tab.

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What to buy that first home or move up into another home? The first thing you need to do is save up a down payment. But that still not enough, so MisterChuck expands on things to do to get into that home.

 Article Links:

 https://www.rocketmortgage.com/learn/how-to-save-for-a-house By PATRICK CHISM

 https://time.com/nextadvisor/banking/savings/how-to-save-for-a-house/ By Kendall Little,Raina He

All episodes are now on Facebook  go to ReduceDebtIncreaseWealth.com in Facebook and look to the podcast tab.

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Please support the show by subscribing, can cancel at any time. Thanks for the support.

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Having credit is good but having too much debt can be bad. How to manage credit so you do not have to manage debt.  

 Article Links:

 https://pocketsense.com/advantages-disadvantages-consumer-credit-8063.html By Cam Merritt

 https://www.nerdwallet.com/article/credit-cards/credit-card-tips-everyone-should-know  By Lindsay Konsko

 https://www.marketplacefairness.org/blog/personal-finance-statistics/

 https://mint.intuit.com/blog/financial-literacy/financial-statistics/

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Please support the show by subscribing, can cancel at any time. Thanks for the support.

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How to increase your net worth, investing into stock for the long term is one way. The other is to reduce your debt. Doing both at the same time may increase your net worth faster. This episode is the basic on investing in stocks and the benefits.

Article Links:

https://www.investopedia.com/articles/basics/06/invest1000.asp By Chad Langager

https://www.investor.gov/introduction-investing/investing-basics/investment-products/stocks

All episodes are now on Facebook  go to ReduceDebtIncreaseWealth.com in Facebook and look to the podcast tab.

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What are budget categories, and the percentages should be when determining how much to spend. MisterChuck goes over this information and much more.

Article Links:

 https://www.chime.com/blog/recommended-budget-category-percentages/ By Chonce Maddox

https://www.credit.com/blog/12-top-budget-categories-you-need-in-your-plan/

All episodes are now on Facebook  go to ReduceDebtIncreaseWealth.com in Facebook and look to the podcast tab.

Support the show

Please support the show by subscribing, can cancel at any time. Thanks for the support.

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What does it take to reduce debt? MisterChuck goes over the method to get debt under control and over time get out of debt.

Articles Links: No articles used 

All episodes are now on Facebook  go to ReduceDebtIncreaseWealth.com in Facebook and look to the podcast tab.

Support the show

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How to avoid using debt relief programs and determine what was the cause of getting too much debt. Before using any debt relief program you must understand why your debt is a problem. MisterChuck talks about these plus other things people do that are personal finance mistakes.

 Articles Links:
https://www.bankrate.com/uk/current-accounts/personal-finance-mistakes/ By Marianne Curphey

https://www.forbes.com/advisor/personal-finance/tips-to-avoid-common-budget-mistakes/ By E Napoletano, Daphne Foreman

All episodes are now on Facebook  go to ReduceDebtIncreaseWealth.com in facebook and look to the podcast tab.

Support the show

Please support the show by subscribing, can cancel at any time. Thanks for the support.

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