This week's episode is PACKED with information to help you ace your Driver's Ed for Credit course! Cullen Canazares and Wendy Massengill break down some facts about student loans, credit building products, and the financial holes people can fall into with using different kinds of lending products, like payday advance stores. 

We'll also chat about the risks of “buy here, pay here” cars, title loans, why consolidating student loans can be a smart move, and how credit builder apps can hurt your credit score more than they help it. And finally, we discuss what happens if you overdraft your account, how much those big banks make off of their customer's mistakes, and how to avoid predatory lending products altogether.

We hope you brought your notebook, because there's lots to learn in this next half hour! 

Want to watch this podcast? Here's the link for our YouTube channel!

Check out our sponsor -- Rental Kharma
https://www.rentalkharma.com

SPECIAL THANKS for the music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/cruen/camping
License code: AACFPDP424VK449S

To kick off season 2 of Rental Kharma ON AIR, Cullen Canazares and Wendy Massengill are giving you part one of your Driver's Ed for Credit course!

In this episode, we talk about the real impacts of common credit mistakes, like late payments, "maxed out cards", credit builder loans, and how to think about your credit score on an A-F scale, like you remember from school. 

Our goal is to help educate our listeners on how to maintain a healthy credit score, avoid those common mistakes, and avoid the credit potholes that can lead to financial setbacks!

Visit the Rental Kharma Learning Center for more articles about how credit really works! https://www.rentalkharma.com/learn

Want to watch this podcast? Here's the link for our YouTube channel!

Check out our sponsor -- Rental Kharma
https://www.rentalkharma.com

SPECIAL THANKS for the music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/cruen/camping
License code: AACFPDP424VK449S

Summary:
This week, Cullen and Wendy talk about a big ole myths we hear about almost every day -- that you need your rent reported on all three credit bureaus (BEEP! WRONG!). We'll also provide you with the definitive answer to the age-old question -- "why is my credit different on all three credit bureaus?" And also explain the upcoming changes to the mortgage industry and how this helps you!

Takeaways:

• Learn how the mortgage lenders looks at your credit information
• Big changes are coming to the mortgage industry and how your score is calculated
• There used to be just ONE credit score model brand -- and the surprising alliance that changed credit scores forever

Want to watch this podcast? Here's the link for our YouTube channel!

Check out our sponsor -- Rental Kharma
https://www.rentalkharma.com

SPECIAL THANKS for the music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/cruen/camping
License code: AACFPDP424VK449S

Summary:
Yee-haw folks! We've got a financial showdown going on, between traditional banks, and the new fintech banking products. Join us as we break down the different kinds of products, the pros and cons, and the surprising winner in this matchup! 

Takeaways:

• Fintech is a term for any kind of financial technology, including banking, investment, and digital currency products.
• Fintech banking bridges the gap for people who don't qualify for traditional checking accounts
• Some of these products are helping put predatory lenders out of business 

Want to watch this podcast? Here's the link for our YouTube channel!

Check out our sponsor -- Rental Kharma
https://www.rentalkharma.com

SPECIAL THANKS for the music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/cruen/camping
License code: AACFPDP424VK449S

Summary:
In this week's episode, Cullen and Wendy dive deeper into the steps you need to take to start your new business and Be Your Own Boss!

Gain some valuable information, motivational insights and practical advice on several business-building topics,  including how to set up your business bank account, and why you should pay yourself a regular paycheck! Learn about marketing strategies, and  what you need to get the business off the ground, without breaking the bank.

As an added bonus, Cullen shares the history of the founding of Rental Kharma, and how he started from scratch, to where we are today!

Takeaways:

• Don't operate out of your personal accounts for more than a couple months when building your business
• Paying yourself out of the business account with a paystub improves credit approval odds!
• You only need marketing expenses if your company is at a certain size -- and word of mouth is more powerful!

Want to watch this podcast? Here's the link for our YouTube channel!

Check out our sponsor -- Rental Kharma
https://www.rentalkharma.com

SPECIAL THANKS for the music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/cruen/camping
License code: AACFPDP424VK449S

Summary:
In the first episode of our Be Your Own Boss series, Cullen and Wendy dive into starting your own business with minimal money, focusing on opportunities for individuals recently released from incarceration. They talk about some of the obstacles faced by former inmates and the barriers that can be broken by starting your own business.  They'll provide tips on how to get your business off the ground, and throw out some cost-saving ideas to get you started.

Tune in to get inspired and learn how to take the first steps towards entrepreneurship!

Takeaways:

• Break down barriers in workforce discrimination by being your own employer.
• Starting a business doesn't take a lot of money
• Stable employment helps prevent recidivism and builds stable lives

Want to watch this podcast? Here's the link for our YouTube channel!

Check out our sponsor -- Rental Kharma
https://www.rentalkharma.com

SPECIAL THANKS for the music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/cruen/camping
License code: AACFPDP424VK449S

Summary:
What a doozy! This week, Cullen and Wendy break down the popular "free cell phone" plans. Listen as we unpack the true costs of these cell phone plans, and how you can be wasting THOUSANDS of dollars! Learn some hacks, facts, and dirty little secrets about the not-so-free pitfall at your big wireless carriers!

Takeaways:

• Free phones aren't actually free - learn how you end up paying for it anyway.
• Contracts, fees, device protection, required minimum service, all add up fast!
• Learn about cost-effective alternatives to the big carriers, and the pros and cons of why you might want to switch!

Want to watch this podcast? Here's the link for our YouTube channel!

Check out our sponsor -- Rental Kharma
https://www.rentalkharma.com

SPECIAL THANKS for the music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/cruen/camping
License code: AACFPDP424VK449S

Summary:
This week, Cullen and Wendy talk about identity theft. We talk about how your identity can get stolen, and some insight and tips on how to protect yourself.

We're going to cover various methods used by criminals to collect your data, such as RFID scanning and phishing scams. Learn about the importance of freezing yours and your children's social security numbers and monitoring your credit report regularly, and what to do if your identity has been stolen. As a bonus, we'll also discuss the benefits of using credit cards instead of debit cards for added protection.

Takeaways:

• Freeze your social security number to protect against identity theft
• Monitor your credit report regularly to detect any unauthorized accounts
• Use credit cards instead of debit cards for added protection
• Be cautious of phishing scams and avoid clicking on suspicious links
• Consider using RFID-blocking wallets or fabric to protect your cards

Want to watch this podcast? Here's the link for our YouTube channel!

Check out our sponsor -- Rental Kharma
https://www.rentalkharma.com

SPECIAL THANKS for the music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/cruen/camping
License code: AACFPDP424VK449S

Summary:
This week, we are talking about divorce. We'll be sharing the stats on why people get married and divorced, why divorce has a devastating impact on your credit report, and what you can do to help protect yourself and your credit during your split. 

We'll also discuss the financial costs of divorce, including expensive divorce attorneys and how you can try and save money by mediating yourselves, if possible.

Tune in and get some tips for preserving your credit during and after your divorce and steps you can take to be as financially prepared as possible.

Takeaways

• Divorce can be expensive, especially when hiring divorce attorneys.
• Preserving your credit score during a divorce is important
• Individuals should establish individual bank accounts and monitor their credit reports to make sure debts are being paid on time.
• Communication is key to saving money during the divorce process.

Want to watch this podcast? Here's the link for our YouTube channel!

Check out our sponsor -- Rental Kharma
https://www.rentalkharma.com

SPECIAL THANKS for the music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/cruen/camping
License code: AACFPDP424VK449S

What happens when you are beyond broke? Well, you may have to file for bankruptcy. Join Cullen and Wendy as they discuss what leads to bankruptcy, what all that entails, and how you can come out the other side with a clean slate! You can still buy cars, homes and other things after bankruptcy!

Takeaways:

• Chapter 7 is the recommended bankruptcy filing for renters and people without assets.
• Learn the things that can and cannot be included in bankruptcy, and you don't have to claim everything you're financing!
• Once your bankruptcy has been filed, debtors that are included cannot contact you anymore.
• If you don't have anything to liquidate, there may be no debt to repay.
• Trust the process, and you will come away debt free and with a fresh start.
• Bankruptcies will stay on your credit report for 10 years.

Want to watch this podcast? Here's the link for our YouTube channel!

Check out our sponsor -- Rental Kharma
https://www.rentalkharma.com

SPECIAL THANKS for the music from #Uppbeat (free for Creators!):
https://uppbeat.io/t/cruen/camping
License code: AACFPDP424VK449S