Money Talks


Money Talks: Save Money By Planning

At Money Talks we can’t give you money but we can remind you that you might save money by planning ahead. Compounding interest, buying in bulk, watching for sales are all ways that might put you in a better financial position. We’ll discuss saving money by planning ahead today. We’ll also take your general personal finance questions.

In the news: job rate, yield curve.

Income Tax payments and filings are due Monday, April 18th this year.

  • Have a bank account. The fastest way for you to get your tax refund is by filing electronically and choosing direct deposit.
  • Consider adjusting your withholding if you owed taxes or received a large refund last year.
  • Take action when life changes occur
  • Decide if bunching deductible expenses can help you.
  • Try to match major deductions to high-income years.
  • Contribute to an IRA for next year now.

Atlantic and Gulf hurricane season starts until June 1st. Now is the time to prepare disaster supplies.

5/8/2018 Money Talks: Financial First Aid Kit

03/30/2021 Preparing for Emergencies

9/7/2017 Money Talks: Emergency Financial Preparedness

  • Rotate your disaster kit’s non-perishable food in your regular pantry so you don’t let food expire and go to waste.
  • Reuse water jugs, safely by washing between uses. We can have a link on how to do this.
  • Watch for sales at the grocery store and stock up when regularly used items have lower prices.
  • Keep your generator maintained or buy one if you think you might want one during a disaster.
  • Keep your vehicle’s fuel topped off.

Families can lock in tuition rates and prepay their child’s tuition and fees. Currently for newborns who would enter college in 2039, parents could pay $38,812 one time or pay $395 monthly for 4 years of university tuition.

Treasurer David McRae was a guest on Money Talks September 15th of 2020 and discussed this and our other college savings program.

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Money Talks: Money As You Grow

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 Things Kids Need To Know To Live Financially Smart Lives 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