11/23/2021

Do you dream of retiring from your job? No so fast. We have a list of boxes to “check off” in the decade before you make this dream a reality. The final decade before retirement is an opportunity to strengthen a retirement plan and tie up any remaining details that can help secure your future.&nbsp; Brighthouse Financial published an article that will be our guide for our discussion today: A Checklist for the Decade Before Your Retirement Date&nbsp;&nbsp;&nbsp;<a href="https://www.usatoday.com/interactives/sponsor-story/brighthouse-financial/a-checklist-for-the-decade-before-your-retirement-date/" rel="noopener noreferrer" target="_blank">https://www.usatoday.com/interactives/sponsor-story/brighthouse-financial/a-checklist-for-the-decade-before-your-retirement-date/</a> Our experts discuss their suggestions:<ol><li>Review your savings. </li><li>Adjust your investment mix.</li><li>Make a plan to pay off debt. </li><li>Estimate retirement expenses. </li><li>Examine options to cover medical costs</li><li>Develop a retirement income plan. </li><li>Review options for Social Security. </li><li>Develop a plan for enrolling in government benefit programs.&nbsp;</li></ol>

Money Talks: Decade Before Retirement

08/09/2022

When you add a child to your family you add joy and happiness and extra expenses. What costs can you control? Which costs are flexible? We’ll talk about the extra costs of impending parenthood. We also can take your other personal finance questions.&nbsp; <a href="https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_one_page_summary.pdf" rel="noopener noreferrer" target="_blank">New Legislation:</a> While adoption can be expensive, it doesn’t have to be. In fact, many parents adopt children at little or no cost through the Mississippi foster care system.&nbsp;Expenses totaling $1,000 to $5,000 can be subsidized or reimbursed. <a href="https://adoption.com/mississippi" rel="noopener noreferrer" target="_blank">https://adoption.com/mississippi</a> On February 6th of 2018, Money Talks discussed Child Care Options for your Budget. <a href="http://moneytalks.mpbonline.org/5cd31f1533f6c1be55607d91" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/5cd31f1533f6c1be55607d91</a> According to a Mississippi Department of Human Services 2021 survey: Average weekly, full-time rates for childcare in Mississippi ranged from $125 for infant care to $111 for preschool care. When they are enrolled in full-time care, rates for school-age children average $102 per week.<a href="https://www.mdhs.ms.gov/wp-content/uploads/2021/10/Market-Rate-Report_Final_9.3.pdf" rel="noopener noreferrer" target="_blank">https://www.mdhs.ms.gov/wp-content/uploads/2021/10/Market-Rate-Report_Final_9.3.pdf</a> Paying for College?<ul><li>4/19/2022 Community Colleges <a href="http://moneytalks.mpbonline.org/episodes/money-talks-community-colleges" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-community-colleges</a></li><li>9/15/2020 Treasurer David McRae <a href="http://moneytalks.mpbonline.org/episodes/money-talks-treasurer-david-mcrae" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-treasurer-david-mcrae</a></li><li>9/3/2019 529 Savings Plans <a href="http://moneytalks.mpbonline.org/episodes/money-talks-529-savings-plans" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-529-savings-plans</a></li><li>10/10/2017 Paying for College <a href="http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607d9e" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/5cd31f1633f6c1be55607d9e</a></li></ul> Also parts of:<a href="http://moneytalks.mpbonline.org/episodes/money-talks-student-loans-2022" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-student-loans-2022</a><a href="http://moneytalks.mpbonline.org/episodes/money-talks-its-a-numbers-game" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-its-a-numbers-game</a><a href="http://moneytalks.mpbonline.org/episodes/money-talks-october-open-topic-episode" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-october-open-topic-episode</a><a href="http://moneytalks.mpbonline.org/episodes/money-talks-back-to-school-finances" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-back-to-school-finances</a><a href="http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d6e" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d6e</a><a href="http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d74" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d74</a>

Money Talks: Money & Kids

08/02/2022

We’ve got two sides of the same coin today: what to do with inherited items you don’t want and also how acquire things you need when you’re on a budget. We’ll discuss ways to get rid of material items if you are trying to downsize and how to accumulate, inexpensively, household objects you may need. Useful websites:<a href="https://www.gobankingrates.com/saving-money/home/why-still-wasting-money-storage-units/" rel="noopener noreferrer" target="_blank">https://www.gobankingrates.com/saving-money/home/why-still-wasting-money-storage-units/</a><a href="https://dengarden.com/cleaning/Stuck-with-Your-Parents-Stuff" rel="noopener noreferrer" target="_blank">https://dengarden.com/cleaning/Stuck-with-Your-Parents-Stuff</a><a href="https://www.legalzoom.com/articles/7-tips-for-getting-rid-of-your-parents-lifelong-possessions" rel="noopener noreferrer" target="_blank">https://www.legalzoom.com/articles/7-tips-for-getting-rid-of-your-parents-lifelong-possessions</a><a href="https://financialgym.com/blog/how-to-furnish-an-apartment-without-breaking-the-bank" rel="noopener noreferrer" target="_blank">https://financialgym.com/blog/how-to-furnish-an-apartment-without-breaking-the-bank</a><a href="https://www.lifehack.org/525095/8-the-best-places-buy-used-goods-online" rel="noopener noreferrer" target="_blank">https://www.lifehack.org/525095/8-the-best-places-buy-used-goods-online</a>

Money Talks: Buy & Selling

07/26/2022

We’ve had previous shows talking about cutting expenses. Today’s tips will be ways to use the internet and apps to help you save money. Money that you could then use to invest or pay off debt.Our suggestions are inspired by AARP <a href="https://www.aarp.org/money/budgeting-saving/info-2022/99-great-ways-to-save.html" rel="noopener noreferrer" target="_blank">https://www.aarp.org/money/budgeting-saving/info-2022/99-great-ways-to-save.html</a> The 2022 Mississippi Sales Tax Holiday takes place between 12:01 A.M. Friday, July 29, 2022 and 12:00 Midnight Saturday, July 30, 2022. We’ll have a link to the Department of Revenues guidelines on the information for this show. <a href="https://www.dor.ms.gov/sites/default/files/Sales%20Folder/2022%20Sales%20Tax%20Holiday.pdf" rel="noopener noreferrer" target="_blank">https://www.dor.ms.gov/sites/default/files/Sales%20Folder/2022%20Sales%20Tax%20Holiday.pdf</a> Questions:<ul><li>Treasury Funds and CDs</li><li>Selling coins: a jewelry store or <a href="https://www.apmex.com/" rel="noopener noreferrer" target="_blank">https://www.apmex.com/</a></li></ul>

Money Talks: Cutting Expenses using Technology

07/19/2022

We’d all love to have more money to invest. Before you can find ways to get your money to grow, you have to save money. Budgeting can help you do that. If you need a little help writing out a plan to spend your money each week, this is the show for you. Instead of a "Budget" call it a "Monthly Spending Plan" if that helps you feel better. We spend a bit of the show discussing Inflation in addition to budgets (and Kevin's savings account interest rate). The 2022 Mississippi Sales Tax Holiday takes place between 12:01 A.M. Friday, July 29, 2022 and 12:00 Midnight Saturday, July 30, 2022.<a href="https://www.dor.ms.gov/sites/default/files/Sales%20Folder/2022%20Sales%20Tax%20Holiday.pdf" rel="noopener noreferrer" target="_blank">https://www.dor.ms.gov/sites/default/files/Sales%20Folder/2022%20Sales%20Tax%20Holiday.pdf</a> For a Budget Template: <a href="https://consumer.gov/managing-your-money/making-budget" rel="noopener noreferrer" target="_blank">https://consumer.gov/managing-your-money/making-budget</a> Sometimes it takes hearing a message a few times for it to take hold. If you need to hear more, and a little bit different information about budgets, please listen to our September 17th 2019 podcast titled Money Talks: Budgets<a href="http://moneytalks.mpbonline.org/episodes/money-talks-budgets" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-budgets</a> Questions:<ul><li>Inflation</li><li>Credit vs Debt</li><li>Inflation</li></ul>

Money Talks: Monthly Spending Plan

07/12/2022

With identity and data theft on the rise, we’d like to suggest what you can do now and if you are informed of a data breach.&nbsp; Discussion:<ul><li>Ida on the economy</li><li>COVID on the economy</li><li>how to get a credit report</li><li>what will they ask</li><li>why freeze creating new credit</li><li>after you freeze your credit</li><li>if your credit report is wrong</li><li>check your Social Security Information at <a href="https://open.acast.com/shows/5cd31efb995459133c97ab7d/episodes/ssa.gov" rel="noopener noreferrer" target="_blank">ssa.gov</a></li></ul> You might not be able to keep your data from being stolen but we’ve got tips on what to do if it is. These are tips anyone can use to protect their bank account, the retirement, their credit record. ?&nbsp;<a href="https://www.fultonbank.com/Education-Center/Privacy-and-Security/personal-data-breach-tips" rel="noopener noreferrer" target="_blank">https://www.fultonbank.com/Education-Center/Privacy-and-Security/personal-data-breach-tips</a><ol><li>Change your passwords&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li><li>Sign up for two-factor authentication</li><li>Check for updates from the company</li><li>Watch your accounts, check your credit reports</li><li>Consider identity theft protection services</li><li>Freeze your credit</li><li>Identitytheft.gov</li></ol> Cyber Security podcast from Aug. 9the 2019 <a href="http://moneytalks.mpbonline.org/episodes/money-talks-cyber-security" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-cyber-security</a> Check your credit report: <a href="https://www.consumer.ftc.gov/blog/2021/03/free-weekly-credit-reports-during-covid-extended-until-april-2022" rel="noopener noreferrer" target="_blank">https://www.consumer.ftc.gov/blog/2021/03/free-weekly-credit-reports-during-covid-extended-until-april-2022</a> Phone numbers for the 3 credit reporting bureaus:Equifax:1 (888) 766-0008&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Experian:1 (888) 397-3742&nbsp;&nbsp;TransUnion:1 (800) 680-7289

Money Talks: New Credit Freeze Encore

07/05/2022

Credit card debt is on the rise. We give some cautionary advice and answer your questions. What do you need to be careful about when using credit cards? Is our situation right now typical? We answer debt or other personal finance questions.&nbsp; Current stock marketBondsPrivate loads can not be converted to Federal Student Loans Credit Cards podcast - 08/08/2020<a href="http://moneytalks.mpbonline.org/episodes/money-talks-credit-cards" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-credit-cards</a>Free things podcast - 02/09/2021<a href="http://moneytalks.mpbonline.org/episodes/money-talks-free" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-free</a>Get a job with help from MS Department of Employment Security podcast - 05/24/2022<a href="http://moneytalks.mpbonline.org/episodes/money-talks-getting-a-job-with-mdes" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-getting-a-job-with-mdes</a>The Gig Economy podcast - 04/30/2019<a href="http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d54" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d54</a> Recent articles about credit card debt:<a href="https://www.usatoday.com/story/money/2022/06/29/americans-opening-more-new-credit-cards/50422149/" rel="noopener noreferrer" target="_blank">https://www.usatoday.com/story/money/2022/06/29/americans-opening-more-new-credit-cards/50422149/</a><a href="https://abc7.com/credit-card-interest-rates-inflation-cards/12000944/" rel="noopener noreferrer" target="_blank">https://abc7.com/credit-card-interest-rates-inflation-cards/12000944/</a><a href="https://finance.yahoo.com/news/jaw-dropping-stats-state-debt-130036449.html" rel="noopener noreferrer" target="_blank">https://finance.yahoo.com/news/jaw-dropping-stats-state-debt-130036449.html</a><a href="https://www.cnbc.com/2022/06/09/credit-card-balances-spike-after-stimulus-checks-helped-reduce-debt.html" rel="noopener noreferrer" target="_blank">https://www.cnbc.com/2022/06/09/credit-card-balances-spike-after-stimulus-checks-helped-reduce-debt.html</a>

Money Talks: Credit Cards 2022

06/28/2022

According to the Mississippi State Treasurer’s office, the average Mississippi student graduates college with $30,000 worth of debt. Also, 30% of these graduates are reporting delaying major life milestones (getting married, buying a house or car, and even having kids!) We'll discuss and answer questions about student loans. Blog post that the New Perspectives interns wrote that ties in with the episode of Money Talks about mortgages: <a href="https://newper.blogspot.com/2022/06/heloc-vs-cash-out-refinance.html" rel="noopener noreferrer" target="_blank">https://newper.blogspot.com/2022/06/heloc-vs-cash-out-refinance.html</a> Compete to Complete: <a href="http://moneytalks.mpbonline.org/5cd31f1533f6c1be55607d6e" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/5cd31f1533f6c1be55607d6e</a><a href="https://www.msc2c.org/" rel="noopener noreferrer" target="_blank">https://www.msc2c.org/</a> <a href="https://studentaid.gov/" rel="noopener noreferrer" target="_blank">https://studentaid.gov/</a>COVID-19 Emergency Relief and Federal Student AidOn April 6, 2022, the U.S. Department of Education (ED) extended the student loan payment pause through Aug. 31, 2022. The pause includes the following relief measures for eligible loans:<ul><li>a suspension of loan payments</li><li>a 0% interest rate</li><li>stopped collections on defaulted loans</li></ul><a href="https://studentaid.gov/announcements-events/covid-19" rel="noopener noreferrer" target="_blank">https://studentaid.gov/announcements-events/covid-19</a> FAFSA website: <a href="https://studentaid.gov/h/apply-for-aid/fafsa" rel="noopener noreferrer" target="_blank">https://studentaid.gov/h/apply-for-aid/fafsa</a>Subsidized and unsubsidized loansPrivate and government loans Private education loans are not eligible for consolidation, but for some Direct Consolidation Loan repayment plans, the total amount of your education loan debt—including any private education loans—determines how long you have to repay your Direct Consolidation Loan.Direct PLUS Loans received by parents to help pay for a dependent student’s education cannot be consolidated together with federal student loans that the student received. <a href="https://studentaid.gov/manage-loans/consolidation" rel="noopener noreferrer" target="_blank">https://studentaid.gov/manage-loans/consolidation</a> Questions:<ul><li>Retired and paying student loans</li><li>Private loans</li><li>Loan not reported on credit report</li><li>Subsidized</li><li>For profit college</li></ul>

Money Talks: Student Loans 2022

06/21/2022

Our guest for the show today is Adam Black, Senior Mortgage Loan Specialist with First Commercial Bank. We’ll talk about getting a home loan in today’s climate. Are you considering buying a home or refinancing?<a href="https://www.firstcommercialbk.com/" rel="noopener noreferrer" target="_blank">https://www.firstcommercialbk.com/</a> <ul><li>S&amp;P Case-Shiller home price index</li><li>recent history of mortgages</li><li>length of time</li><li>types</li><li>credit score</li><li>down payment</li><li>shopping for a mortgage</li></ul> 7/14/2020 Money Talks: First Mortgage <a href="http://moneytalks.mpbonline.org/episodes/money-talks-first-mortgage" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-first-mortgage</a>6/11/2019 Money Talks: Refinancing Mortgages <a href="http://moneytalks.mpbonline.org/episodes/money-talks-refinancing-mortgages" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-refinancing-mortgages</a>6/19/2018 Money Talks: Mortgage Loans<a href="http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d7e" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d7e</a>3/15/2022 Money Talks: Increase Your Credit Score <a href="http://moneytalks.mpbonline.org/episodes/money-talks-increase-your-credit-score" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-increase-your-credit-score</a>10/2/2018 Money Talks: Credit Score <a href="http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d6f" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/5cd31f1533f6c1be55607d6f</a> Questions:<ul><li>HELOC</li><li>HUD home: FHA $100 down program, 203K renovation loan</li><li>Title insurance</li><li>Homeowner's insurance</li><li>School debt / equity loan </li></ul>

Money Talks: Mortgages 2022

06/14/2022

This show isn’t really intended to teach kids about money but today we’ll try to help YOU teach your kids and grandkids about money. We’ll discuss what they need to know at various ages. We’ll also take your “grown-up” money questions. New Perspectives Blog <a href="https://newper.blogspot.com/" rel="noopener noreferrer" target="_blank">https://newper.blogspot.com/</a><a href="https://www.consumerfinance.gov/consumer-tools/money-as-you-grow/" rel="noopener noreferrer" target="_blank">https://www.consumerfinance.gov/consumer-tools/money-as-you-grow/</a> 20 Things Kids Need To Know To Live Financially Smart Lives<a href="http://moneyasyougrow.org/" rel="noopener noreferrer" target="_blank">http://moneyasyougrow.org/</a>Kids aged 3-5 need to know:You need money to buy things.You earn money by working.You may have to wait before you can buy something you want.There’s a difference between things you want and things you need.Kids aged 6 – 10 need to know:You need to make choices about how to spend your money.It’s good to shop around and compare prices before you buy.It can be costly and dangerous to share information online.Putting your money in a savings account will protect it and pay you interest.Kids ages 11 to 13 need to know:You should save at least a dime for every dollar you receive.Entering personal information like a bank or credit card number online is risky because someone could steal it.The sooner you save the faster your money can grow from compounding interest.Using a credit card is like taking out a loan: if you don’t pay your bill in full every month, you’ll be charged interest and owe more than your originally spent.Kids 14 to 18 years old need to know:When comparing colleges, be sure to consider how much each school would cost you.You should avoid using credit cards to buy things you can’t afford to pay for with cash.Your first paycheck may seem smaller than expected since money is taken out for taxes.A great place to save and invest money you earn is in a Roth IRA.Kids over 18:You should use a credit card only if you can pay off the money owed in full each month.You need health insurance.It’s important to save at least three months’ worth of living expenses in case of an emergency.When investing, consider the risks and the annual expenses. 6/8/2021 Money Talks: Kids Learning <a href="http://moneytalks.mpbonline.org/episodes/money-talks-kids-learning" rel="noopener noreferrer" target="_blank">http://moneytalks.mpbonline.org/episodes/money-talks-kids-learning</a>

Money Talks: Money As You Grow

Airs Tuesdays at 9 a.m. on MPB Think Radio

email: money@mpbonline.orgMoney Talks airs Tuesday mornings at 9 Central Time on MPB Think Radio and over the internet at mpbonline.org Money Talks focuses on personal finance as it applies to Mississippians. In any given week, we’ll talk about anything from preparing your taxes to saving for college or investing in the stock market. Our experts are Dr. Nancy Lottridge-Anderson, President of New Perspectives and Ryder Taff, portfolio manager at New Perspectives. Nancy and Ryder are both Chartered Financial Analysts and Ryder also holds the Certificate in Investment Performance Measurement from the CFA Institute. They join Kevin Farrell in the studio to answer your personal finance questions about family budgeting, retirement savings, Social Security, investments, debt management and more. Need a budget? Here's one: <a href="https://consumer.gov/sites/default/files/pdf-1020-make-budget-worksheet_form.pdf" rel="noopener noreferrer" target="_blank">https://consumer.gov/sites/default/files/pdf-1020-make-budget-worksheet_form.pdf</a>

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