Moneysplained Season 1 Preview

Do you ever feel like there’s this secret language of money you can’t speak? Or that financial security is only understood and enjoyed by those who come from money, or work as bankers, brokers, analysts, and accountants? Moneysplained is a personal finance podcast that breaks down those barriers and fills in the education gaps for people afraid of admitting what they don't know about money.

27 Sep 12:20

Episode 1: What is Money?

This is episode one of season one of Moneysplained and we’ve got the entire world of money to cover. Later episodes will have clear themes like Episode 2 on Credit Cards and your credit score or episode 5 on the finances of freelancing or my favorite episode so far, How to Invest $1000. Instead of giving you a lifeless history lesson on money I thought I’d start out with a bunch of finance terms I hear all the time in the financial media but am not confident I actually know anything about. I’m making this podcast for you my listeners of course, but this is my financial education, as much as it is yours. Interest rates, credit unions, and bonds, that’s where we’ll start. And if none of those interest you, stick around for later episodes. I promise there’s something here for you. The information in this show is for education purposes only. I hope it is helpful but should not be taken as accounting or investment advice, for that, seek help from a licensed professional.

27 Sep 12:20

Episode 2: Banking and Credit Cards

Welcome to episode two of Moneysplained. We’re talking banks, fees, and credit card offers. This is a beast of an episode. From avoiding bank fees to evaluating three separate real-life credit card offers, there’s a lot to cover. I’ve got Kim Palmer from NerdWallet, which is an excellent website for doing comparison shopping for checking accounts, credit cards, online brokers, and loans. This episode is all about being a smarter consumer and Kim will walk us through how to avoid confusing offers from credit card companies. Remember, they WANT you to rack up debt. They only make money when you rack up debt. All those fancy travel rewards points are just the carrot on the stick. If you’re super strategic and can manage your credit card payments so you’re never carrying a balance, points can be awesome, and in a later episode I’ll detail how I spend seven nights in Italy relying completely on travel rewards points. I’ve been late a few times on my monthly payments but am generally good at paying off the balance each month. If you’re spending beyond your means, aka you definitely couldn’t have paid cash, you might not be a great candidate to sign up for a credit card. And if you’re in serious credit card debt, we’re going to talk about getting help and repairing your credit and credit score in the next episode. First we have to learn how to be discerning consumers.

27 Sep 12:20

Episode 3: Your Credit Score

Credit scores matter a whole lot. A good credit score (between 620 and 850) will often make you eligible for the best travel rewards and cash back credit cards and lenders will be able to offer you the lowest interest rates on home and auto loans.    My guests is Liz Weston, who I immediately hit it off with because I’m from Los Angeles and she lives just minutes from my dad’s house. Liz knows a lot about credit scores and we had a lovely chat about the highs and lows of credit scores…AND THEN THE NEWS ABOUT THE EQUIFAX BREACH DROPPED. So I freaked out and got back on the phone with Liz to talk about how we can all protect ourselves.    A lot of things can negatively impact your credit score, like falling behind on credit card payments. If you do fall behind and your score suffers, you DO have options. 

27 Sep 12:20

Episode 4: Taxes

In this episode we’ll cover getting an extension on your taxes, paying your taxes after not paying them for a few years, marginal tax brackets, the gift tax, tax brackets, and so much more.    Nobody likes taxes…but you have to pay them. Otherwise our roads and hospitals would be a mess, and you may get slapped with a bunch of fees and potentially spend some time in jail.    My guest is Shane Mason, an accountant and financial planner in Brooklyn, New York. Shane walks us through every aspect of paying (or not paying) your taxes.    Have you ever REALLY looked at your tax return? We'll take a microscope to that 1040 form. 

27 Sep 12:20

Episode 5: So You Got a Job, Now What?

So you got a job, that’s super great, congrats! You’re about to get hit with a truckload of paperwork and have to make decisions that will have a major impact on your financial life. In this episode we’ll take a deep dive into that W-4 form that most employees have to fill out, plus we'll take a microscope to a pay stub to learn what all those pesky deductions are. We’ll also look at how to sign up for your employer’s retirement plan and why you should. And for those of you evaluating job offers from less conventional companies, we’ll look at stock options and why you should proceed with caution.

27 Sep 12:20

Episode 6: Freelance Isn't Free

The life of a freelancer is not always glamorous. As a freelancer, you are both the boss and the employee and the accounting department and HR. Because this is podcast is about money, we're going to focus on the accounting department part. In this episode we'll talk about the difference between an S-Corp and an LLC, how to file taxes as a freelancers, how to track down 1099s, what you can actually write-off your taxes, and a very exciting New York City law that protects freelancers from being stiffed.

27 Sep 12:20

Episode 7: Retirement

In today’s episode: retirement. How to save, how to plan, and what those 401(k), Roth IRA, 403(b)s are all about. Plus, a secret community of millionaires who are retiring decades early. I talk to Nicole Peterkin, a certified financial planner in Boston and Johnathan Mendonsa and Brad Barrett of the ChooseFI podcast about their early retirement philosophy known as the FIRE movement.

27 Sep 12:20

Episode 8: What is Investing?

Hey, are you sick of all those sports metaphors in investing? Me too! Well I'm gonna call an audible and try to explain various types of investing through fashion. My guests are Zachary Gering, CFP® of Sontag Advisory and Daniel Tersigni of Wealthsimple. We go deep on index funds, socially responsible investing, and how your 401(k) is costing you $40,000 in fees. Disclaimer: Moneysplained is for entertainment and education purposes only and should not be considered investing advice.

27 Sep 12:20

Episode 9: How to Invest $1000 and the Rise of Robo Advisors

Robo advisors are simply online investment platforms. These innovative tech companies have made it extremely easy for the average person to invest in the stock market with just a few dollars.   Robo advisors are the new kids on the block—you might know them by the names Betterment, Wealthfront, Wealthsimple, Ellevest or Vanguard. They have no account minimums and low fees, generally something like .5% or 1% (as opposed to 2-5% for an ace fund manager). With low fees, robo advisors are basically a one-size fits most investment portfolio behind a very sleek website. The investment strategy is to maintain a diverse portfolio made up of mutual funds, ETFs and bonds. I've invested my own money in a few different robo advisors so I can review them for you! Plus, I talk to Nick Holeman from Betterment about how the industry is changing.   

27 Sep 12:19

Episode 10: The 10 Best Gifts Money Can Buy

The holidays are approaching and that means you’re about to go on a spending frenzy to buy family and friends stuff they don’t need. Let’s change that. If you have a ton of nieces and nephews don’t buy them Bath and Body Works and Starbucks gift cards, buy them a future. This is not your typical listicle and no, this isn’t a joke. I’ll countdown the ten best gifts money can buy that will give you a chance to shift someone’s entire relationship to money. Along the way, I’ll explain how the gold standard worked, I’ll walk you through how to buy government issued savings bonds, show you how to buy bitcoin, and explore how microlending can impact communities thousands of miles away.

27 Sep 12:19

Episode 11: Health Insurance

Whether you’re choosing a health insurance plan from your employer or shopping for your own on the exchange, there are a ton of terms you need to know: deductible, HMO, PPO, co-insurance, out of pocket, etc. My guest is Todd Erkis, a former actuary and insurance professional who is now a professor of finance at St. Joseph’s University in Philadelphia. He helps us wade through the confusing waters of insurance and warns us of the dangers and monetary penalties for not having insurance.

27 Sep 12:19

Episode 12: Death and Inheritance

As humans we naturally fear death. We fear the great unknown and we have to fear what happens to our loved ones after we go. In this episode we’ll cover estate planning and why having a will is just one small part of a plan to make sure your stuff transfers efficiently to your survivors while they are grappling with your death. I've got a brilliant estate planning attorney on the show to answer all my death and finance questions, plus I find out if I need a will!

27 Sep 12:19

Episode 13: Student Loans

Understanding the 1.5 trillion dollar student loan crisis starts with individuals. Student loan expert Heather Jarvis takes us through every possible option for borrowers who find themselves underwater. From refinancing with a private lender to enrolling in a program that will eventually completely forgive the balance owed, we cover every angle of student loans. Being in debt can feel like a death sentence but with knowledge comes power and with a few minutes spent on the phone with your student loan servicer, it's possible to see the light at the end of the tunnel.

27 Sep 12:19

Episode 14: Bookkeeping for Freelancers

My guest is bookkeeper extraordinaire Katherine Pomerantz. She has amazing perspectives on money and how business owners can completely change their relationship with money. When you own your own business you are not only the CEO but you're also the HR department, the accounting department, the mail room, the office manager. It's time to outsource and ask for help when you need it. The books - meaning the record that tracks inflows and outflows of your business are the heart of the matter.  If categorizing transactions and spreadsheets don't excite you, it's time to hire help! Katherine walks us through a slew of free and inexpensive tools that can save a small business's life. We talk about how to price your art, how to maximize your time as a business writer, how to be your own bookkeeper and why creative people are better business owners.

27 Sep 12:19

Episode 15: Budget is a Bad Word

Setting yourself up for failure is almost inevitable when you're trying to save money. We're told by "experts" to make a budget and stick to it but often we have no idea where those budget numbers should come from. On today's show I talk with the Luxe Strategist about real ways to save money that actually work. 

27 Sep 12:19

Episode 16: How to Pay for College

If you have college-bound kids or are thinking about funding a family member's education, this episode is a MUST LISTEN. My guest is the wonderful Joe Messinger, a financial planner who has dedicated his career to helping families pay for college. We talk about everything from the FAFSA to 529 plans. 

27 Sep 12:19

Episode 17: How to Be Your Own Financial Planner for Free

My guest is Ramona Ortega. She's the founder of My Money, My Future, a personal finance platform aimed at young women. We talk about all the amazing free tools out there for people looking to get their finances together and how the barriers to having a sound financial plan are slowly crumbling.

27 Sep 12:19

Episode 18: The Power of the HSA

With the burden of healthcare costs falling to individuals and families, HSAs can be an amazing tax free way to pay for not just doctor visits and hospital stays but also LASIK eye surgery, acupuncture for chronic pain, and more. Enter Lively, a company focused on making HSAs flexible, affordable, and accessible to everyone. My guest is the co-founder of Lively, Shobin Uralil, who takes us through some of the hoops to jump through to access one of best financial planning tools out there. 

27 Sep 12:19

Introducing: Get Money

Check out Get Money, a new podcast I'm in launching January 22nd! It's a fun time. www.getmoneypodcast.com

27 Sep 12:19