On today’s show we cover a variety of topics dealing with personal finance. We answer a question from a reader who found our website through the search “why is taking out a loan bad.” We answer that question by sharing what we teach our financial coaching clients on borrowing.
In addition, we have a follow-up segment on a discussion we had on a prior podcast about the increase in the stock market and how that has been kept very quiet on the news. Well Fidelity had a news release the other day stating that the average 401(K) balance at the end of March was the highest since 1998! We discuss the reasons for that and explain why this is another example of how your money can work for you instead of you working for money.
Finally, are banks really lending money? It seems like all we hear about is how the banks are not lending and how nobody can get a loan. But yet I am still getting credit card offers in the mail daily, along with offers to refinance my home and for new auto loans. I also share a conversation I had with my friend on how much money the bank would approve him for a mortgage, and it will blow your mind! This begs the question: did the banks learn anything from the mortgage mess of 2007-2009? Or better yet: have we learned to say no to the bank when they “offer” us credit?
If you have any comments, questions, or ideas for future shows you can send them to me and I will integrate them into a future show. There are two ways to get in touch with me:
1.) Email me at JWFinancialcoaching@gmail.com – Please put “podcast” in the subject line and keep your questions brief so they are readable on air.
2.) Simply fill out the form at the bottom of this page. Please fill out your name, email, where you are from, the subject line, and your question/comment/suggestion and we will read it on air.
You can find prior editions of the podcast at the podcast archive page