Moneyplan Sos With Steve Stewart | Budget Wisely | Get Out Of Debt | Pay Attention, Not Interest

#161: What if you could invest your loose change at the end of the day? Now you can with Acorns. Acorns is an app taking advantage of new technologies and less expensive investment fees to allow anyone to start investing in ETFs from Blackrock, Vanguard and PIMCO.  ________ Take the #100challenge in September 2014. See how fast you can save or earn $100 more. Then apply the money to your next goal: Emergency Fund Pay down debt Car replacement fund Save for Christmas Etc... Share your progress and WINS by using the hashtag #100challenge   For more information, visit the show notes at

#160: You can't turn on the TV or have a conversation with someone about money without the subject of credit scores coming up. With all that awareness you would think that everyone would have a basic understanding of how credit works. Unfortunately, there is a lot of miss-information being spread around. There are many myths surrounding the credit score; believing these myths can not only wreck your finances, but keep you from reaching your financial goals. For more information, visit the show notes at The five biggest myths about credit scores Myth #1 - You have to carry a balance to have a good credit score This is a dangerous myth that gives people an excuse to keep their debts. The five credit score factors (payment history, amount owed, length of credit history, new credit, and types of debt) are all about how well you “manage” debt. If you pull your credit report there is nothing about how you manage your normal bills (electric, cell phone, rent), unless you are late on those payments. Myth #2

#159: The first 6 steps to buying a cash car are laid out by James Kinson, the Cash Car Convert. He helps everyday Americans kick auto debt to the curb and make smart buying decisions when it comes to automobiles. For more information, visit the show notes at

#158: It is inevitable: Your debit card will be compromised some day. What happens when my debit card is stolen? Money will be taken out of your account Your bank may call you or you must call your bank when you find out The Zero Liability Policy will kick in The money will be returned to your account in short order Any insufficient fund charges will be removed by your bank You will be inconvenienced In this episode five individuals share the experiences of when their card(s) were compromised. How to prepare for a stolen debit card: Here's what to do  

#157: How was John Lee Dumas able to start Entrepreneur On Fire without ANY income for 9 months? John tells us how in this exclusive interview about how successful people spend money. Also, Suze Orman's Preferred Debit Card is no more and PerkStreet customers get money in the mail! For more information, visit the show notes at  

#156: Would you like to know how we paid for our vacation at a horse ranch without credit cards? It’s easy: We prepaid for our travel expenses with a debit card, prepaid for the week at a horse ranch by check, and paid cash for the rest. Oh, and we saved more than $160 by staying away from credit cards. In this episode I break down the different ways to pay for things like rental cars, souvenirs, and hotels - no credit cards necessary. The reason I stay away from credit cards will become evident when you hear our story of paying for the horse ranch. It is proof that plastic is more expensive than cash or check, we just don’t realize it is. Here is 7 minutes of beautiful horses crossing a river of melted mountain snow   Read more at

#155: How much attention do you really need to give to managing personal finances? Here are 10 ways we pay attention to our money - and most of it doesn't involve a lot of time:   Always: Check remaining budget balances before spending. Daily: Enter transactions into your checkbook/software/ Monthly: Balance checkbook/ Monthly: Set up budget (again, we use ) Quarterly: Review investments and retirement plans Annually: Rebalance portfolios and contribution amounts Annually: Reassess emergency fund balances   Tax Season: Review "giving" categories Occasionally: Think of money-saving ideas as they come up (cell phone, irregular purchases, etc) Life Events: Health, Car, and Life Insurance annually or when there is a life event (job change, new vehicle, pay raise, etc…)   Have I left anything out? Leave me a note at

#154: It had been a hectic morning. I recorded two interviews before leaving for the airport but I made it to the terminal with plenty of time. About 100 passengers ahead of me were being rushed as their flights were affected by weather but I had plenty of time. No reason to panic - I've done this dozens of times: Print boarding pass Check a suitcase Head towards security Have ID and boarding pass ready Take out any liquids, aerosols or gels Take everything out of my pockets Place my shoes on the conveyor belt Unzip my laptop bag and pull out my..................... WAIT! WHERE IS MY LAPTOP?! The spot where my MacBook is stored was empty. Did someone steal it when I wasn't looking? All my recordings and videos that I was going to work on, did I have a sufficient backup for all my recordings? What about all my pictures? I texted my wife: "URGENT: Go to my office. Is my laptop there?" She replied and my heart instantly sighed - I had left it on my desk. DOH! Being distracted sucks I was so scatterbrain

#153: 3 Debt Elimination Strategies that WORK! Any one of these debt elimination plans will work if you work the plan: Debt Snowball: Pay extra on the debt with the smallest balance. Debt Avalanche: Pay extra on the debt with the highest interest rate. Risk Reduction: Pay extra on the debt with the most risk. This could be back taxes or a loan from your mother (you don’t want to risk the relationship, do you?) Pros and cons: Debt Snowball: You pay more interest than the Debt Avalanche. However, getting a shot of QuickWin has been scientifically proven to keep people motivated to keep working the plan to the end. Debt Avalanche: You pay less interest overall. However, working on a 21% interest rate credit card for over a year tends to wear on a person’s psyche. We begin to believe the process doesn’t work and we quit. Risk Reduction: Taking care of IRS debt first eliminates the possibility of them garnishing your wages (no court process needed). Or you may decide to pay off your parents because the stress

#152: Rachel Cruze is a speaker, debt-free evangelist, part-time co-host of the Dave Ramsey show, known for being the inspiration behind the book “Careless at the Carnival”, and is soon to be a NYTimes best selling author for a book to be released on April 22, 2014 - Smart Money Smart Kids.  MoneyPlan SOS listeners wanted to know what she thought about these questions: Chris Pilon from Dadrenaline podcast: Aside from not paying commission, what did your parents do when you or Denise or Daniel did not do their chores? Karen Austin posted on Facebook: We have 8 year old twins and they earn money for household chores. We've been heavily focused on savings plus tithing, but feel we need to let them spend a little. Did Dave let you have spending money? Was it a percentage of what she earned?  Garnet Eldred (who shares the same birthday as me) asked: What does she use her 'blow' money on? Stephanie Reed wants to know: When did she start her own budget? And did her parents make her buy her own clothes and toiletries

#151: Kraig Mathias began his journey to debt freedom after blowing the engine on his car on a cross-country road trip.  We geek out over the math behind his car debt, then get inspired from his journey from debt freedom to creating independence. You can find more about Kraig at  Money tips: Save tons of interest by spending a little more on insurance Leave the plastic at home, even the debit card, for one Saturday. Just try it. For more information, visit the show notes at  

HAPPY APRIL FOOLS DAY! I'm not here in this episode - I've commandeered three other shows that are not my own. Here's where I am today:  where I turn the tables on Jared Easley and interview him on his own show! On the  (usually by James Kinson) I talk about getting out of the car payment business. While Joe is in taking over my show I am also taking over the .  You can click on any of the links above for their (or should I say “my”) shows. If you would like to read the backstory of why I took over 3 shows in one day and why I'd NEVER do it again, .   Never has the show brought on more guests, more topics, and more laughs in the show. There were so many people on this show that there wasn't enough room for Steve. What you will get from this show Pirates take over the show. Arggggggghh Average Joe Money and OG talk about  The Roundtable talks about Groupon and Living Social: Are online deals a good deal? And finally, a classic Top 5 list. Top 5 ways to pay off your mortgage early OG's Top 5: 5) D

#149: People love their credit cards. Why? They aren’t valuable. They can’t be traded or sold. And they cost people a lot of money and often their freedom. I’ve been separated from my credit cards for over seven years and can tell you: I don’t miss them a bit. Now that I’m coaching people through their debt problems I get to hear all the same lies I used to say that justified my reason for keeping the plastic crutches. Here are some of the lies people tell themselves so they can keep their credit cards? “I only use my card for things I’m already going to buy anyway.”  “I only use this card for the points.”  “My credit card interest rate is blah blah blah.”  and more. For more information, visit the show notes at 

#148: The Daily Success Habits of Wealthy Individuals. Tom Corley joins me for a discussion about the habits of the rich. We also learn the 4 things that can make you un-fireable.   A short list of Rich Habits: Tom Corley published a number of Rich Habits, which you can find here: The ones that took me buy surprise were: What Wealthy people do before work Habits of the Wealthy during the workday: Gossip is a Poor Habit    FOUR STRATEGIES TO BECOMING "UN-FIREABLE" To read more about the Rich Habits and strategies to becoming "Un-fireable", go to  

#147: A new study released by FINRA reveals only 18% of millennials are able to correctly answer 4 out of 5 questions about finance.    Links mentioned in the show: FINRA releases results of study: http://www.finra.org/Newsroom/NewsReleases/2014/P456463 Take the quiz yourself by following this link: http://www.usfinancialcapability.org/quiz.php    The national average is 2.88 out of 5. How will did you do? Listen to the podcast for the answers. For more information, visit the show notes at  

#146: Mitch Anthony joins me in a discussion about redefining retirement. His book, , helps us understand this relatively new word.  Resources can be found at          

#145: Money can cause us to experience a large number of unnecessary anxieties. A number of things can help alleviate a majority of worries when it comes to money and finances. In this episode I give you five ways to reduce financial stress and make you feel more powerful, confident, and in control: Have $5,000 in the bank Automatically save money into a retirement plan  Have a Will Rent or live in a paid-for house Carry a $100 bill in your wallet For more information, visit the show notes at  

#144: The sole benefit of Federal form Schedule A is to give us the opportunity to keep more of our hard-earned money. These are commonly referred to as “itemized deductions.” These are the tax deductions you want, and 3 you don’t.  For the list as well as links to Federal tax forms visit

#143: What happens to my credit score after paying off debt? In this episode I share survey results that show debt-free people aren't worried about their credit score. FICO says what's in your credit score FICO says your credit score is based on the length of credit, new debt, the variety of debts, how much debt you owe, and your payment history on debts. In short, you need to borrow money for a long time. More than likely you will end up paying interest. I'd rather be paid interest than paying it. What is not included in your credit score What is not included in a credit score is your age, sex, religion, and where you live. These things are left out due to consumer protection laws that were passed to keep lenders from being biased or discriminatory.  The problem with a traditional credit score is that it is selective on what to include in the calculation of your credit score and is not a fair representation of your full financial picture. Why wouldn't these things be included when calculating your ab

#142: This 17 year old has got some sense! Eva Baker started a personal finance blog at http://TeensGotCents.com and is learning a lot about how money really works. This will benefit her greatly when she strikes out in this world and makes her mark.  Eva tells the story of how she started a personal finance blog at age 16, how she budgets her money with a basic envelope system, and then speaks from her own personal experiences about why having a simple plan and broad goals is key for any teenager to be prepared for adulthood. For more information, visit the show notes at