Wisdom with Money | Episode 110

This week Coleen and Angela address being wise with our money. Below you’ll find an outline of the topics discussed.

1. Budgeting

• Budgeting software options
• Work on your budget together as a couple
• Budget for everything

1. Getting out of debt
   • Pay off highest interest debts first
   • Pay more than the minimum
   • If you aren’t carrying a balance on your credit card DON’T START!

1. Saving

• Emergency Funds
• Saving for bigger purchases
  • Christmas
  • Vacations
  • Home improvements
  • Cars
• Saving for retirement (which will tie in with investing)

1. Investing
   • Types of investments
     1. Debt (bonds)
     2. Real Estate
     3. Equity (stocks)
     4. Derivative investments (options, hedges, other very complex instruments)
   • Why Invest
     1. Inflation
     2. Lifetime avg return on the market
   • Basics
     1. Start early
     2. Max it out, get every match dollar
     3. Diversify (talk about risk)
        1. Individual stocks >40
        2. Mutual funds
        3. Diversify across asset type as well
     4. Shift strategy with age

1. Not so great financial decisions

• MLMs
• Credit cards
• Buying too much house
• Viewing a car as an investment
• Not saving for retirement
• Whole life insurance

7. Giving

8. Teaching children to be wise.

• Young children
• Teenagers

Women can join our Facebook Group Theology Gals-Ladies Theology Discussion and Encouragement
Follow us:
On Facebook
On Twitter @TheologyGals
On Instagram theologygals
Email us at theologygals@gmail.com

If you’d like to ask Theology Gals a question which may be answered on a future episode, you can text or leave a voicemail at (951) 407-0234. You may also send an email.

Consider supporting Theology Gals with just a few dollars a month