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From Financial Disadvantage to Being Empowered with Warren Hogarth + Ask Shannah

You’d think when you arrive in the U.S. getting set up financially would be easy. Not so fast. When Warren Hogarth of Empower came to the U.S. from Austrailia in 2004 he quickly realized he was at a disadvantage with all things financial – getting credit and building your credit was no easy task.

On This Podcast Episode:

I had a candid conversation with Warren about his transition to the U.S. and how “the system” attempted to keep him down when it came to his finances. Luckily, he’s sharing some of the money lessons he learned during that time as well as the journey he’s taken to turn the disadvantages into a new app,  Empower.

Warren spent eight years as a Partner at the #1 VC firm in the world, Sequoia Capital. They’ve invested in companies like Square, LinkedIn, WhatsApp, and AirBnB, and Warren stood shoulder-to-shoulder with founders to build large, enduring businesses (3 went from zero to over $1 billion).

If you take away one thing for this episode, it should be his best piece of money advice (stay to the end of the episode to hear his inspirational take away).

Shout Out To Our Sponsor:

This episode was sponsored by The Decrypting Crypto Podcast. As Warren said in the podcast episode, learning all you can about Crypto will keep you educated and in a position to make smart money moves. There’s no better podcast than The Decrypting Crypto to help you do just that! Subscribe today in iTunes or any podcast platform.

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. You’re awesome and mean so much to us. If you’ve enjoyed this episode, please share it on social media using the hashtag #millennialmoneypodcast.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

Millennial Money is more than just a podcast, we’re all about family here. Join us each weekend for our Sunday Seven Email Club, where we’ll share bonus episodes, money tips, life hacks, exclusive music drops, travel deals, breakfast treats and a whole lotta’ fun!

Have an Ask Shannah question, submit it here.

Want More:

Ask Shannah – How Much Should I Have Invested At Certain Ages + Should I Make Weekly Credit Card Payments

The Ask Shannah questions are piling up so today I’m tackling two questions that I feel will resonate with you.

On This Podcast Episode:

Question #1 – How Much Should I Have Invested (and saved) At Certain Ages – while there are some common goals that are often suggested by personal finance experts, there isn’t a hard-fast number for how much you should have invested and saved. Even if you haven’t started yet, now is as good of a time as any. However, in the episode, I’m going to offer some common suggestions you can use to figure out if you’re on track.

Question #2 – Should I Make Weekly Credit Card Payments – well, the most important factor is that you’re making your credit card payment on-time, however, these micropayments have become popular with people trying to better their credit score and pay off debt faster. See what I have to say about making weekly, bi-weekly, or monthly credit card payments.

Have an Ask Shannah question, submit it here.

Shout Out To Our Sponsor:

Whether you’re a serious athlete looking for some new workouts or just starting out you need to give Beach Body on Demand a try. Right now listeners can get a free trial membership when you text MYMoney (no spaces) to 303030 – you get full access to the entire platform for FREE.

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. You’re awesome and mean so much to us. If you’ve enjoyed this episode, please share it on social media using the hashtag #millennialmoneypodcast.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

Millennial Money is more than just a podcast, we’re all about family here. Join us each weekend for our Sunday Email Club, where we’ll share bonus episodes, money tips, life hacks, exclusive music drops, travel deals, breakfast treats and a whole lotta’ fun!

Want More:

Sneaky Tips To Pay Off Debt and Best Credit Cards In 2018 – Wallethub

With millions of people making a financially themed resolution for 2018 – pay off that debt and save more are the two top resolutions – and recent Fed rate hikes expected to cost credit card users an extra $7.4 billion in interest this year (YIKES), the personal-finance website WalletHub today released a pair of reports that will help you save more in the new year: 2018’s Best Credit Cards as well as the latest Credit Card Landscape Report.

On This Podcast Episode:

To tackle any big financial challenge like paying off debt it’s going to take a game plan and some plain ole’ commitment.

However, that doesn’t mean that you should focus on paying off all the debt all at once – in fact, that can lead to burnout and frustration.

On this podcast episode, I’m chatting with Jill Gonzalez, analyst from WalletHub about some of their recent findings in their Credit Card Landscape report, and how those findings can help you in 2018 be smart and strategic in paying off your debt.

Links Mentioned:

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. Every listen means so much to us. If you’ve enjoyed this episode, please share it on social media using the hashtag #millennialmoneypodcast.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

Want More:

Disclosure:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.

 

Up Your Money Game Plan in 8 Steps

It’s that time of year again to come up with your money game plan for the rest of the year. I can hardly believe it’s back to school time and that the holidays are just around the corner. There’s no better time than now to set a money goal for yourself and craft a money game plan.

It's that time of year to take your money game plan to another level. Here are 8 steps to get you started.

On This Podcast Episode:

  • I’m diving into 8 steps to help you up your money game plan
  • Find out how long it really takes to better your budget
  • What’s one easy step you can take today
  • Set your goals and action plan for success

Links Mentioned:

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

Want More:

 

Disclosure:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive

 

Your Credit Card Is Broken – Meet Final

According to Final —  your credit card is broken and they’re here to fix it. Final is the only credit card that puts the consumer back in control of their finances by administering a new number for every merchant, enabling secure payments, eliminating fraud and providing clarity into spending habits.

If you've ever been a victim of credit card theft you know what a pain in the butt it can be to sort out. I'm talking with Aaron from Final, a company that is helping you take back control of your credit spending.

With 1% cash back on purchases and no annual fee, Final is the credit card for the tech-savvy spender who doesn’t want to hassle with changing their payment info with every vendor when a security breach occurs or a credit card gets lost.

Admittedly, I hadn’t heard about Final until I spoke with Aaron, but I think this is a really cool concept that could definitely change the way we think about credit cards – and put us, the consumers, back in control.

On This Podcast Episode:

  • I’ll chat with Final CEO and Founder, Aaron Frank, about what Final is up to
  • Learn why Final thinks your credit card is broken
  • Aaron will share a bit about the future of credit cards and security
  • Interested in Final, head to their website for more details

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

 

Want More:

 

Disclosure:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.

 

 

Summer Reboot- Credit Card Rewards Giving You a Grand

We’re in full swing with our summer reboot bringing you one of our most popular credit card episodes – Credit Card Rewards Giving You a Grand. While we’re on hiatus for a few weeks we’re bringing you some of our very best, most popular, and just great episodes for you to enjoy twice a week.

Credit card rewards are the best thing since PB&J. Credit Card rewards can be worth big money in your bank account.

Would you say no to an extra grand? That’s what I thought…

These days credit card companies are offering all sorts of insane credit card rewards sign up bonuses for you, the customer. If you’re not using a rewards credit card, now might be time to investigate. There are tons of ways you can use the rewards points, for instance:

  • Travel for the Holidays
  • Exchange points for gift certificates for family and friends
  • Save on car rental for your summer getaway
  • Towards airfare to that exotic location you’ve been dreaming of

If you meet certain conditions, credit card reward points could just be the best gift you’ve ever received for spending money. These points are worth cash in your hand.

Power to the Points

A recent study by CreditCards.com (2016), revealed six credit cards with rewards of over $1,000, and tons of other cards with lucrative sign up bonuses. Here are a few of my favorites.

Chase Sapphire Reserve Card Sign-up bonus value: $1,500

Sign-up bonus: 100,000 points if you spend $4,000 in first 3 month

Chase – British Airways Visa Signature® Card Sign-up bonus value: $1,145

Sign-up bonus: 50,000 points if you spend $3000 in first 3 months

Chase Ritz-Carlton Rewards® Credit CardSign-up bonus value: $1,080

Sign-up bonus: 3 complimentary nights at a tier 1-4 Ritz-Carlton hotel, if you spend $5,000 in first 3 months

Chase – Fairmont Visa Signature CardSign-up bonus value: $1,000

Sign-up bonus: 2 free nights if you spend $3,000 in first 3 months

On the Podcast

On this podcast episode, we’re going to dish about the power of credit card rewards points and  what they can mean to your wallet, and your lifestyle.

I’ve traveled around the world and stayed at some amazing hotels thanks to credit card reward points. Learn how you can embrace the power of rewards too.

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

Disclosure:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) and financial strategies may be appropriate for you, consult your financial adviser prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.

 

 

3 Reasons I’m a Big Fan of Credit Cards

I'm a big fan of credit cards because if you use them right, you can score all sorts of points that equal real dollars in your pocket. Find out the three reasons why I love credit cards and how you can use them for all the benefits without the negatives.There I said it. I’m a big fan of credit cards for three main reasons: cash back, airline tickets and gift certificates. In my world, credit cards equal powerful rewards that are worth real money in your pocket that can be used towards all sorts of money goals.

The sad news is that only 31% of credit cardholders have never redeemed their credit card rewards, according to a new Bankrate.com report. Cardholders typically gravitate to one extreme or the other, redeeming their rewards points/miles frequently (38% did so within the past 6 months) or not at all.

The most popular redemption is cash back, which makes sense. Airline tickets are a distant second, followed by gift cards. Millennials are much more likely than older adults to choose cash back.

On This Podcast Episode:

  • Find out why I am a huge fan of credit cards
  • What you should be thinking about if you have rewards points
  • Why you shouldn’t shy away from a credit card with an annual fee
  • How to use your credit card points to achieve your money goals

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

 

A Credit Card Secret to Radically Reduce Your Debt

There is a secret to reducing credit card debt that most don't talk about often. Found out what you need to know to chop your debt down.It’s almost impossible to avoid credit card debt. Even if you’re always within your budget, have a healthy savings account, and live by debit and cash, there will certainly come a time when you’re going to want to spend some cash that isn’t in your account. Enter credit card debt. It happens to the best of us.

I’ve always tried, to be honest on the podcast that credit card debt comes and goes. I get really frustrated at all the posts about people who are killing themselves to live debt free. Yes, it’s a great goal. Yes, it makes you feel really good and is financially smart. However, the reality is that life happens and sometimes you go into debt.

What’s the best strategy if you’re currently in debt to get it paid off?

It’s a secret that you don’t hear about often – using 0% balance transfer offers to radically reduce your debt. Here are a few of my favorites.

On This Podcast Episode:

  • We’ll dish about why being in debt isn’t the worst thing that can happen to you
  • How to use this secret to radically reduce your debt
  • Why you need a strategy with your debt
  • What steps you should take to have a healthy dose of debt

Thanks for Tuning In:

Thanks for tuning in to listen to this episode of Millennial Money. If you have any comments or questions about today’s episode, please let us know your thoughts in the comment section below. If you’ve enjoyed this episode, please share it using the social media.

Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome!

 

 

Should I Cancel My Credit Card

Your credit score is super important to your financial future. Here's what you need to know about cancelling your credit card and how it can effect your credit score.

On today’s podcast, I’m tackling two more listener questions that are so awesome I couldn’t resist.

Question #1

Nicole asks: “My first credit card was with a semi-predatory/scammy company (CreditOne, if you’re curious), because it was the ONLY company that would give me one. I was careful with it, built up my credit to be excellent, and now have a much, much better and legitimate credit card.
I want to cancel this old card, which has a very, very small credit line (a fraction of what my new one offers me), and wash my hands of this horrible company all together. But I have been advised by some friends not to. I’ve had the card for less than 2 years. Can I give this scammy company the boot?

Thanks for always answering my questions. You are truly awesome. I recommend your podcast to my friends all the time. You rock.”

The short answer to this question is “it depends.” Check out the podcast episode for more details.

Question #2

Sarah asks: “I have a BUDGET question! I recently got married and am trying to tackle the ever challenging budget now for not just one, but two people. I downloaded your budget template and have been working to complete it, however am confused at one part. I downloaded our monthly statements and am categorizing our “variable expenses” (often paid on our credit cards), but on your budget template variable expenses are listed (groceries, dining out, household etc) in one section, and loans/credit cards are listed in another. I think I am counting some things twice because I’ve already tallied up what was on the statement, then am counting again what I paid for towards my credit card bills. Does this make any sense? Help!”

Great question, Sarah. You never want to double dip and make sure you are only counting expenses only once. I’ve got a few tips on this episode, and when you’re done, click here to get a downloadable copy of my Variable Expense Tracker Worksheet

Variable Expense Tracker

3 Reasons to Care About the Interest Rate Hike

All the Fuss With Interest Rate Hikes

You’ve probably gotten through life thus far not really caring about what the Federal Reserve does when it meets a few times each year and couldn’t care less about the Fed Funds Rate. You might’ve heard rumblings on the news about interest rates going up and thought, “Well, I don’t really care about that.” I’m here to tell you that you should care or at least know what the heck it means when the Fed raises the rates.

The Federal Reserve is raising interest rates again and as millennials you should pay attention. There are three key areas that could hit your wallet hard - credit card interest rates, car and home loans, and student loan refinancing rates.

On This Podcast

We’re going to dish about three reasons why you should care about the interest rate hike. This is a not so subtle hint that raising the interest rates actually does matter to you and your wallet. The Fed raises the rates to stabilize the economy but what ends up happening is any of your loans tied to variable interest rates will go up.

  • Find out what the Fed is and why interest rates go up
  • How the raising interest rates affect your bank account
  • What you can do to counteract the higher interest rates
  • Why higher interest rates are good news for savers who want to take advantage of higher interest rates on high-yield savings accounts

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