Money Plan SOS

Steve Stewart
Money Plan SOS

Pay attention - not interest. For most, that’s all it takes to get their money under control. That’s how Steve and his wife got out of debt completely - even the mortgage…and you can too! Your host, Steve Stewart, shares his extreme-but-proven ways that money really works. The show isn’t just about making a Money Plan (aka: a budget). Steve also explains what’s really wrong with credit cards and credit scores (spoiler alert: It’s not what you think). You’ll also learn about rich habits, how various investing vehicles work, and how you can have no debt, no credit, and no problems! The show is retired, but still relevant in today’s radically changing financial world. Begin with Episode 201, then go back and listen to the archives in your favorite podcast app! Money Plan SOS is the response to the call for help with your finances.

  1. 08/28/2015

    The 8 Great Mistakes of Investing. Also, Fractional Savings Accounts

    #198: OG (aka The Other Guy from Stacking Benjamins) joins me to share the 8 Great Mistakes in Investing Full show notes at   The 8 Great Mistakes of Investing are: Under-diversification  Over-diversification  Euphoria  Panic  Leverage  Speculating  Investing for yield and not total return  Cost basis dictating decision  Thanks to OG for coming over. You can find him at http://StackingBenjamins.com - my favorite podcast. Also mentioned in this episode: The Great Beanie Baby Bubble by Zac Bissonnette. Amazing stuff! Here's the Stacking Benjamins affiliate link: http://amazon.com/dp/B00INIXVPW/?tag=thefreefinanc-20 __________________________________________________ Steve Stewart's Budget Coaching Course on video:  __________________________________________________ Ponda from the Honda: SPEND IT ALL (sort of) __________________________________________________ Fractional and Automated Savings Accounts - are they a good idea? Deanna Richardson from Richardson Accounting and Consulting, PLLC @  asked “Have you heard of Digit? Seems like a great way to build up an emergency fund and....it says it is free. Then their are bonuses for keeping $100 in it over 3 months. If I did my math right, the bonuses are over 2.5% interest (5 cents / week per $100). Would love to hear what you think.” I tackle these new fractional, or automatic, savings accounts: Acorns, Digit and Betterment’s SmartDollar Links: ACORNS Open an account:  or install the free IOS or Android app Listen to my interview with the creators of Acorns    DIGIT Open an account:  Testimony from Paula Pant (which kinda concerns me)    BETTERMENT'S SMARTDEPOSIT Open an account:  More information:  ______________________________________

    1h 8m
  2. 08/21/2015

    Matt Ham has Redefined Rich

    #197: Matt Ham is an author, speaker, and small business owner. Five words uttered by a nurse changed the way he looks at life - and inspired him to redefine rich. Full notes with links at   Takeaways from this interview: It’s not how much you give - it’s how you give it () We shouldn’t feel guilty to spend and, surprisingly enough, we feel richer when we give. Whole Life Matters Podcast:      __________________________________   3 important things to remember when buying a car This post first appeared on  Transportation is the third largest budgeting expense for most people. Housing and taxes can consume up to half of the average American’s income, with cars sucking up between 5-20 percent - depending on number of vehicles and if the consumer is carrying auto loans. However, you can greatly reduce your vehicle costs by remembering these three things when buying a car: It’s transportation It’s a depreciating asset It’s not forever The way we get the biggest bang for our buck when we buy a car right is when we buy it outright. Pay off your current car loan quickly, save what used to be your car payment for the next one, and pay attention - not a lease payment. _____________________________________   ‘Ponda from the Honda Free chips, salsa and bread sticks. What do they have to do with rising prices at local restaurants? _____________________________________   Are you tired of paying interest?  Do you want to get control of your finances?  Schedule a 30 minute consultation and let me help you make informed decisions on how you spend your values

    57 min
  3. Put More Money in Your Paycheck with a Mid-year Tax Assessment

    08/06/2015

    Put More Money in Your Paycheck with a Mid-year Tax Assessment

    #195: Do you know why stories of people with $.32 refund checks are in the news? Because they are so rare!  Most people want to get a big tax refund. Getting a huge refund is an extremely inefficient use of money - both for you and for the government. I recommend adjusting your withholding so you can bring more money home and put it towards your goals: High-interest rate debt Building up reserves Saving or investing Run a mid-year income tax assessment Making course corrections in August helps steer your tax withholdings closer to the target - which is to owe nothing or get a small refund.  It’s almost impossible to be exact, there are too many moving parts, but you can bring your tax-boat closer to the dock in the last few months of the year. Gather together the following items: Last year’s tax return Last year’s Schedule A (if you itemized deductions) Your last two pay stubs (include your spouse's as well) Note: If you have a small business or are an entrepreneur then you will need to run a Schedule-C calculation to estimate self-employment income. You may also want to see a tax professional. Also, you will want to estimate any: Child/Dependent Care expenses Expected bonuses Expected interest, dividends, etc I use tax preparation software to run my calculation but you could follow the prompts at the IRS website to complete a mid-year tax assessment: http://apps.irs.gov/app/withholdingcalculator/   If you expect a huge refund: You could choose to do nothing and continue giving the government more of your money, interest free, and get a huge refund April 15th. However, I recommend you increase the number of allowances  on your W-4 and give it to your benefits department or HR person. They will adjust your withholding to get you closer to zero. If you would like help running this calculation then contact me and we will run through it together.   Federal forms and resources mentioned in this episode: http://apps.irs.gov/app/withholdingcalculator/ http://www.irs.gov/pub/irs-pdf/fw4.pdf http://www.irs.gov/pub/irs-pdf/f1040sa.pdf http://www.irs.gov/pub/irs-pdf/f1040sc.pdf   In the Ponda from the Honda segment Only 5.5 more payments to go   $5 a week for 45 years at 10% growth is $228,000 See a chart in the show notes at http://SteveStewart.me/195   Try YNAB (You Need A Budget) for 34 days and receive 10% off if you keep it

    34 min
4.8
out of 5
130 Ratings

About

Pay attention - not interest. For most, that’s all it takes to get their money under control. That’s how Steve and his wife got out of debt completely - even the mortgage…and you can too! Your host, Steve Stewart, shares his extreme-but-proven ways that money really works. The show isn’t just about making a Money Plan (aka: a budget). Steve also explains what’s really wrong with credit cards and credit scores (spoiler alert: It’s not what you think). You’ll also learn about rich habits, how various investing vehicles work, and how you can have no debt, no credit, and no problems! The show is retired, but still relevant in today’s radically changing financial world. Begin with Episode 201, then go back and listen to the archives in your favorite podcast app! Money Plan SOS is the response to the call for help with your finances.

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