Wealth Academy Podcast - Wealth Is More Than Just Money

After a short sabbatical from hosting Wealth Academy Podcast, Paul Lawrence Vann returns, renewed, refreshed and ready to provide solution-based commentary of his favorite topic...finances, money. Don't call it a comeback, Paul has been here for years sharing why it is important to grab the financial bull by the horns and be a lender and not a debtor.Paul reminds listeners that he has been in the money game for decades and his education and experience positions him to provide financial and money advice. He discusses the current state of the economy, how to navigate the economic crisis and what it takes to come out ahead when it is all said and done.Given that it is the Christmas holiday season, Paul advocates for everyone to manage their finances wisely. Paul informs listeners that the U.S. government is working to cool of the economy, however we are not out of the woods as of yet. Upcoming broadcast will include more guest experts, solo episodes and much, much, more. Tune in, listen in. and rate and review Wealth Academy Podcast, thank you in advance for your support. Get Paul's inflation navigating tips: https://bit.ly/3hbgvFT      

One of the most compelling aspects of Yvonne is centered around this question...What do you want to be remembered for? This shifted her philosophy and she shares this with her clients to better understand what their why is and what they want to be remembered for.Yvonne shares how productivity will have to be viewed from a new set of lenses in that employees today must be offered more unique and compelling incentives, otherwise, they will choose to leave, work from home, and or become entrepreneurs. People should consider getting a side hustle because you can't depend on a corporation as they have in the past. In fact. Yvonne states, that the side hustle has become the hustle itself because people are choosing to become entrepreneurs.Get Yvonne's free productivity mini-course it will change the way you look at productivity in your life. https://bit.ly/3brKbAtWhen it comes to women business strategists, Yvonne focuses her clients on accelerating their productivity and profits which consists of accessing what the entrepreneur already has and then figuring out how to use it. For example, when working with women entrepreneurs, Yvonne looks at whether the client is making enough sales calls, marketing, sales, and the message.Yvonne states, that women are the energy the world needs today, they care about people, are talented, and are what the world needs today. Delegation is also an important aspect for women leaders, delegating duties to the right person is one of the keys to a business's success. Reach out to Yvonne McCoy by scheduling a free consultation with her to see how she can help you and or your organization at this link: https://bit.ly/3xSeRTaRate and review episode 242 with Yvonne McCoy on Apple Podcasts, please provide a 5-star rating. Thank you in advance for your assistance.  

Dr. Ida Greene was born in Florida to two loving parents who instilled in her the importance of acquiring knowledge and getting an education. We grew up and was the first one in her family to earn a high school diploma, bachelor's degree, master's, degree, and doctorate degree. That is not all she became a registered nurse and today she is the author of twenty-two books.She is a Motivational Speaker, licensed Marriage, Family, Child Therapist, Ordained Minister, Registered Nurse, Intuitive, self-Love Coach, Author of 22 books, Sales Trainer and Educator. She is a Reiki Energy Balancing Practitioner, EFT Trainer, NLP Practitioner, Certified Hypnotherapist, founder for Center of Self-Esteem.org, whose mission is to end violence and abuse of children and women. She provides training on: Self-Empowerment, Negotiation, Stress Management, Change, Domestic Violence, Etiquette, and Anger Management for children and adults. She provides: Self-love Coaching for Entrepreneurs and Small Business owners on strategies to grow yourself, so your inner and outer self is congruent, to help you master your personal power. Dr. Ida Greene has been providing these powerful and insightful skills to clients for over 30 years. https://bit.ly/3a1zleSDr. Greene married a member of the military and over time the relationship was challenging and she experienced a broken marriage. Not to rest on her laurels, Dr. Greene made it her mission to empower women to overcome the devastation of abusive marriages and relationships.  Out of great personal challenges, Dr. Greene studied and became a spiritual coach, she is the Soul Whisperer and today she empowers women to dream big and never look back. Her body of work is exemplary and she continues gaining even more momentum in her efforts to provide mentorship and outreach to diverse communities.Dr. Greene also leads a nonprofit that assists young African-American youth with ADHD and more. She believes in no one being left behind and with the high rate of incarceration, more must be done to provide an outlet and source for youth to thrive.Dr. Greene is also an Intuitive Relationship Coach who believes that for most people the power they seek externally is on the inside of them. Intuition is real and because it is, people can embrace it. Dr. Greene states, "I am finally allowing myself to be used by God to express my gift to Activate the Intuition of women for use in their relationships and business. God just gifted a 5 weeks group of women to Awaken their Intuition. Jump on a free strategy call with Dr. Greene at www.calendly.com/dridagreene/30minIt was a joy interviewing Dr. Greene, she has a heart of gold and is so empowering. Learn more about her and while you are at it, rate and review this episode #241 on Apple Podcasts and provide her with a five star rating, thank you very much.  

Tareq Hadhad was a Syrian refugee and now living his new life with his entrepreneurial family on Canada's east coast. He is the founder and CEO of Peace by Chocolate, the recipient of the Ernst Young (EY) Atlantic Entrepreneur of The Year 2021, named one of the Top 25 Immigrants in The Maritimes, selected by Google as the National Hero Case, and was awarded RBC's top Immigrant Award and Entrepreneur of the Year in 2020. Since Tareq's arrival on Canada's East Coast in 2015 as a Syrian – Canadian newcomer, he has been invited to speak to countless audiences across Canada and internationally. He has had the privilege to meet former President of the United States, Barack Obama, Canadian Prime Ministers, and had conversations with many World Leaders.Discover more about Tareq's business at   https://bit.ly/3Q1RtuvTareq's speaker website: https://bit.ly/3Nn4RYHTareq shared insight into his family's chocolate business in Damascus, Syria which was the second-largest in Syria prior to the bombing during the Pre-Syrian War. Not only did they sell some of the world's finest chocolates in Syria, but throughout the Middle East and in Europe. Issam is Tareq's father and he has over 30 years of experience as a chocolatier expert, extraordinaire, he states "Chocolate makes people happy."Tareq shares an empowering backstory about the day of the bombing and how it shattered his dream of being a physician, and his family's business being sidelined by the death and devastation of the bombing, it is very compelling and yet, ties into how to persevere through adversity, it resulted in his family becoming refugees in Lebanon.Tareq made his way to Antigonish, Nova Scotia, and over time, three years to be exact, his parents and siblings were able to immigrate to Canada. He has an amazing family and they are in an amazing community with heart-centered leaders and citizens.One of the most powerful statements Tareq shared was about immigrating to Canada and making a difference, not to take anyone else's job but rather building a business, and hiring employees of who they are doing while sharing their gift of chocolate with Canada and the rest of the world.Prime Minister Justin Trudeau shared Tareq and his family story with people at the United Nations and President Barack Obama was in attendance and Tareq met him and other world leaders. When it comes to the Ukrainian War, Tareq knows what the people are experiencing because he experienced it in the Pre-Syrian War which led to his refugee experienced and ultimately immigrant experience. Today Tareq and his family are citizens of Canada and are contributing to their society, culture, and community through entrepreneurship. hiring employees and sharing their gift of some of the world's best chocolate.Not only does Tareq have an amazing book, Peace by Chocolate, but also a movie Peace by Chocolate. I highly recommend you purchase the book and view the movie which is being screed at Cineplex theaters in Canada, and in the U.S. Rate and review episode #240 Tareq Hadhad episode and provide a five-start rating for his episode. Thank you for your support.  

The U.S. economy is challenging all citizens at every level. The cost-of-living crisis is the toughest since the 2008 recession which was brutal.The Financial Fitness Leads To  Your Financial Freedom course is being pre-sold until June 16, get it for a 50% discount. This course is for you if you are living paycheck to paycheck, you are experiencing financial stress, you want to discover how to navigate the inflationary cycle we are in, and work to become debt-free.Here is what is in this course:Introduction of course creatorMindset foundationBudget developmentMoney leaksDebt-freedomCourse reviewNext stepsGet this course while it is being pre-sold and receive a 50% discount. Here is the link to enroll: https://paulvannspeaks.biz/3lA7Pwo 

So how is your financial fitness at midyear? You already know that we are in a  cost-of-living crisis and it is not pretty. The kitchen table issues include the price of eggs, milk, and bread continue escalating and it also includes the dramatic cost of gasoline continues to skyrocket.I would be remiss if I didn't discuss the  price of housing and rents continue increasing due to a shortage of housebuilders which was offset by the pandemic and skilled homebuilders. The lack of houses on the market is resulting in the American Dream of purchasing a house, slowly but surely coming to an end. That's is not all, the housing shortage is resulting in a 42% increase in rents, and in some cases such as the city of Miami, the rents have increased by 58% over the past two years. Time is going to test everyone and it is one of the reasons why your financial fitness is so important during 2022.First things first, find out what your net worth is, it can tell you where you are today. Next, assess how much debt you have and attack it, and become debt-free. You will save a lot of money by not paying interest on your credit cards, personal loans, and more.Do not and I repeat do not pay off your credit cards and go back and charge them to the limit, it is self-defeating. Do me a favor, and recommend this episode to your family, friends, and colleagues. Provide a five-star rating on Apple Podcasts, thank you for your support.     

Now more than ever it is important that we all become financially literate because our economy demands it. Our economy demands it because we have to learn how to navigate the cost-of-living crisis, the inflation cycle we are in, and kitchen table issues.Facts:Roughly 62 percent of men are financially literate, compared with 52 percent of women. Similarly, the data show that about 64 percent of adults living in high-income households are financially literate, compared to about 47 percent of adults living in low-income households.Financial literacy helps to improve the quality of financial services and contributes to the economic growth and development of a country. Increasing the complexity of the economy, individual needs, and financial products, the individual must have financial literacy to manage his personal finances.Americans scored an average of 68% on the national financial literacy test. The average score up to date is 67.93%, and the percentage of passing scores is 58.61%. Financial literacy high school statistics show that the average score among Americans aged 15-18 in 2020 was 67.93%.Current financial literacy statisticsRoughly 53% of adults are financially anxiousTwo in three families lack an emergency fundApproximately 78% of adults live paycheck to paycheckFour in five adults experience barriers to homeownershipRoughly 54% of Millenials are concerned about student loansThree in five adults don't keep a budgetThis is the last day of Wealth Academy Podcast's 30-day financial literacy series. Hopefully, you have learned things that will help you become financially literate. It is important that we all become as knowledgeable about financial literacy so we can positively make a difference in our country. Being able to navigate today's economy that is in a historic inflationary cycle demands that we be proactive in accounting for every cent we spend, so we can become debt-free and financially independent, here is to your financial success!Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG  

A recent news broadcast states rents jumped twenty (20%)  in the U.S amid the housing shortage. Rental prices are soaring with the average two-year change coming in at 20% or higher, here is a breakdown by city:Two-Year Rental Increases by city:Miami  +58%Tampa  +45.8%Orlando  +34.7%Jacksonville  + 29.2%Memphis + 41.4%Riverside, CA +48.2%Las Vegas  +34.4%New Orleans -+34.4%Phoenix - +29%There is no projection for when the rental increases will subside due to the shortage of affordable housing for people. The home building industry is impacted by the increase in the price of lumber and a shortage of home builders. Rents will continue to increase in this all-cash buyers market.There will likely be more homelessness in the near term because the average citizen cannot pay a $1,100 increase when renting a house, government intervention is required in matters such as this. Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG

As we all continue recovering from the pandemic, we find ourselves in a space that truly calls upon us all to work smarter to become financially independent. Why?With the cost-of-living crisis in our midst, we must all pull our finances to the level to match the inflation rate. We all knew coming out of the pandemic that the economy would be adjusting and it is. The Federal Reserve raised interest rates by 0.25% in March and we know there will be six additional increases throughout 2022. Kitchen table issues take into account the increase in food prices, gas, and goods. Investing in stocks, bonds, and other commodities will yield dividends that will likely outpace the inflation rate.How to become financially independent:Knowledge is power so study the stock market, have a section with a financial advisor, talk to your local banker and learn as much as you can about investing in stocks, real estate, cryptocurrency, and more. Self-study is important because you won't be going in blind and with a basic knowledge of what can help you assist your family finances in navigating this inflationary cycle.Start investing, there is no perfect formula and or secret sauce, just get started. Why? The sooner you start investing the more you will learn about the process. There is no overnight success, invest from a long-run perspective meaning, you are in it to win it in the long run.Prepare for life events that may take place in your life such as marriage, having a family, moving or going to college. The bottom line is this, just as no one saw the pandemic coming, there will likely be other significant events that come our way in the future. Preparation is the key and we all received experience from COVID-19 and we know what to do if something like this happens again.What about your spending habits? Do you know how to establish a budget, financial plan, and more? Once you establish your financial budget it will be a window into becoming debt-free. You will be able to understand your spending habit and make adjustments to work to become financially free.Work to maximize your credit score. Your credit score is the byproduct of your spending habits, credit card debt, personal and student loans, mortgage, and more. Formulate a spending plan, an emergency fund, and build your credit.Set aside money to help your family. The awesome power of service to the family is priceless, so ensure you have a purpose for working, saving, and building your family one dollar at a time.Retirement is in your future, what you do today has everything to do with your tomorrow. The sooner you start to save, invest, and generate wealth the more you will have in your golden days.There is more, however, this will get you out the door when it comes to becoming financially independent. Everything listed here will help you, start today!  

After observing a news broadcast earlier today, the discussion surrounding the cost of living crisis came up. The focus of the news report was centered on childcare costs and the gender pay gap.Facts: Twenty-five percent (25%) of family budgets go toward childcare expenses. When it comes to the gender pay gap,  it takes Caucasian women three more months to equal the pay of Caucasian men.It takes African American women seven more months of work to equal the pay of Caucasian men.It takes Hispanic women ten more months of work to equal the pay of Caucasian men.Women earn eighty (80) cents for every dollar a man earns which should be corrected considering they work the same job, this is pay inequity of the highest order. Living wages required a per hour wage rate of $35.80 to keep up with inflation, however, the federal living wage rate is only $7.35 an hour.The workforce is feeling widespread burnout. A lot of it is due to the inflation cycle and pay inequality.Fifty-three percent of women surveyed stated stress levels are higher than they were a year ago. All in all, when it comes to financial literacy for women there are still a lot of challenges they face and more effort needs to  be put into correcting the wrongs of pay inequity and flexible work schedules that can accommodate women in all industries.Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG 

My favorite definition of financial freedom reads as follows: "Financial freedom is the ability to live the lifestyle you desire without having to work or rely on anyone else for money."The real question is whether you can survive if your paychecks stopped coming in? Only you can answer this question, and conduct your own assessment pertaining to the question. Some people are transitioning into a movement called Financial Independence Retire Early (F.I.R.E.) which entails spending less than you earn and saving or investing the rest to reach financial independence.Three points of focus for F.I.R.E. practitioners:1. Minimize your expenses in a few key areas2. Grow your wealth3. Never stop learning (self-study, investments, etc.)This is a wonderful segway for Wealth Academy Podcast listeners and subscribers, in that it is time for us all to lock in our financial literacy, and take action to see your financial goals and dreams come to fruition. Recommend your family, friends, and colleagues to listen to episode 233 of day 26 of the NFLM.Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG 

Not only was COVID-19 devastating in 2020, but it is also having an impact on people's finances to this day.  The question people ask is, "Is the pandemic causing stress in their lives and with their finances?"  No doubt about it, people are experiencing mental health issues as a result of the debt they have. The more debt, the more anxiety, stress, and depression people are experiencing.Financial education will play a critical role in the U.S economy turning around as the pandemic abates. A pivot continues to take place within our community of financial educators and advocates to keep services available to teachers and learners, as well as develop plans to respond to the millions who will need financial education as they work toward recovery.The pandemic continues causing stress for people and their personal finances. More than half (54%) of people say they're worried about not having enough money saved, while almost half (48%) are worried about their ability to pay bills. Financial education alone is not enough to foresee economic challenges or remedy a financial crisis. Leveraging the coronavirus outbreak to demonstrate the ineffectiveness of financial education and blaming the individual for not having emergency savings or financial resources to get through this is irresponsible.  Continue discovering  as much as possible so you become financially literate and over time everything will work in your favor.Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG 

People do not talk about divorce they either keep it quiet or close hold as they go through this emotional ordeal. It is important to understand the divorce rate for Americans over the age of 50 has doubled since 1990, an increasing number of divorced people nearing retirement age may find themselves scrambling to solidify their finances as they approach their golden years.Three out of four older divorced people need a better understanding of how to manage their personal finances. While men and women are equally as likely to break good spending habits after divorce, women are more likely than men to take steps to regain their financial health.That's not all, financial planners report their female clients are twice as likely to seek out financial advice after a divorce, find a job, and increase their savings toward retirement. A lack of financial understanding that becomes evident during a divorce illustrates the importance of good financial practices when couples are married. Financial planners participating in the survey said the following steps would have helped their clients who are near retirement age be better prepared for divorce:Understanding how to manage personal finances (76%).Understanding the long-term financial planning consequences of a divorce settlement (73%).Understanding the tax implications of a divorce settlement (57%).Updating wills or trusts (51%).Increasing saving for retirement (51%).Just over one-third (36%) of planners said establishing a prenuptial agreement would have better prepared their clients financially for divorce. There are three components to a divorce—legal, financial, and emotional. The legal aspects of a divorce are complicated, and the emotional upheaval is huge. The financial aspect is challenging because at least one partner may not have a good understanding of the family finances, including retirement savings.Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG 

One of the first things you should do if you receive a summons from the court is to address it. You should respond to a court summons for credit card debt by first trying to settle the issue with your creditor and then by fighting the lawsuit in court if you're unable to come to an agreement. The worst thing you can do is ignore the summons. If you don't know why you received a court summons for credit card debt, contact the debt collector that filed suit and ask for documentation proving you owe the amount in question. The court system relies on evidence, to ensure you owe the debt and or make sure it belongs to you and not someone else. This will give you more information to go on, and if the debt collector doesn't have the necessary paperwork, the suit could go away. Things to do if you receive a summons:Don't ignore itTry to work things outAnswer the summonsConsult an attorneyGo to courtRespond to the rulingThe number one problem people are facing today is the economy and financial challenges. Remember you are not alone, the best thing to do is to face the facts, address the court summons and over time you will be made financially whole again. This information will help you overcome a court summons, and move forward knowing you will and can do this.Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG

The Great Recession that took place in 2007-2009 was more devasting than any time in American history. Home foreclosures are lower than they've been in nearly a decade. While that's certainly reassuring, the U.S. is still averaging more than one million foreclosures each year. In 2021, the share of housing units with a foreclosure filing was 0.11 percent. Foreclosure results when a homeowner fails to pay their mortgage payments on time, so the lender evicts them from a said property and takes control of it. The foreclosure rate reached its peak in 2010, just after the financial crisis of 2007-2009. Since then, the rate has steadily fallen. As the coronavirus (COVID-19) unfolded, the government imposed a foreclosure moratorium, a mortgage forbearance program, and mortgage servicing guidelines which was the reason for the low rates recorded in 2020 and 2021.If you're the owner of a property that's facing the prospect of foreclosure, it's critically important to take immediate action to rectify the situation. Ignoring the situation - or reacting too late - is the worst possible course of action. Banks do not want you to default on your house, so workarounds are provided, thus it is important to open up lines of communication with your lender.If you miss mortgage payments over a 90-day and or three-month period of time, you will be receiving notices from your lender, do not ignore the information you receive. Reach out to your lender, contact a counselor at the Department of Housing and Urban Development and work out a loan modification, repayment, and or refinance your property.Facing a foreclosure is one of the most difficult experiences any homeowner can endure. By taking early action to address the situation, you can put yourself in the best possible position to save your home - or at least walk away with minimal damage to your credit score.Discover more about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG

Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperGMake no mistake about it, money problems and mental health issues are intrinsically linked. Research from the 2008 great recession and COVID-19 reflect the link between finances and mental health.According to the Money and Mental Health Policy Institute¹, poor finances often lead to stress and anxiety that can further impact finances.Facts: 46 percent of people with debt also have a mental health diagnosis86 percent of people with mental health issues and debt say that their debt makes their mental health issues worsePeople with depression and debt are 4.2 more likely to still have debt at 18-months compared to their counterparts without debtThose with debt are three times more likely to contemplate suicide due to that debtThe Cycle:Mental health problems make it harder to earn, manage money and spending, and to ask for help.Financial difficultyFinancial difficulty causes stress and anxiety, made worst by collections activity or going without essentialsMental health  problemsThis cycle repeats itself over and over againAmericans suffer from financial stress. A Harris Poll conducted in the early months of the COVID-19 pandemic showed that 90 percent of Americans felt financial stress.  Note that financial stress is not limited to hard economic times, such as the fallout from a pandemic.a Northwestern Mutual study found that 44 percent of Americans stated that financial concerns were their number one stressor, with more than one in four feeling depressed about finances at least monthly and two out of ten feeling depressed weekly, daily, or hourly.Continuous financial stress wreaks havoc with mental health. On the Mayo Clinic's website5, the list of mental health issues due to stress includes:AnxietyDepressionFatigueSleeplessnessThe American Psychological Association (APA)6 found that stress can lead to unhealthy habits, including excessive drinking and drug use.Continuous financial stress wreaks havoc with mental health. On the Mayo Clinic's website5, the list of mental health issues due to stress includes:AnxietyDepressionFatigueSleeplessnessThe American Psychological Association (APA)6 found that stress can lead to unhealthy habits, including excessive drinking and drug use.Financial stress can impact employers too. That is because financial stress manifests itself in a variety of ways in the workplace, such as7:Daily tasks going unfinishedLower quality workPoorer relationships with co-workersIndications that an employee is seeking other employmentWhen this happens, employers suffer increased costs from absenteeism, presenteeism, high turnover, high healthcare costs, more on-the-job accidents, less participation in 401(k) benefits, and more.According to Salary Finance8, these issues related to financial stress cost businesses about $3,000 per employee per year. With a financial wellness program created specifically for your employees and their individualized needs, employers can help lessen employee financial stress and improve mental health by providing ways to learn important financial management skills and behaviors.

Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperGLike many things in life if you do not study, research, or experience things, it can be intimidating and yes, experience is the best teacher. Investing in stocks can be intimidating if you have never done it before and do not expect overnight success when it comes to investing in the stock market.One must be risk-averse when it comes to investing in the stock market. But you will most certainly know people who've become incredibly prosperous, or even rich, by doing it but they likely did so over the course of the long run.You will never increase and grow your money by keeping it in a savings account, money responds to movement in the stock market, it is dynamic and if you want to outpace inflation you will need investments that yield more than inflation rates during this inflationary cycle.Different Types of Stock Investment Platforms:Online Brokers/Apps people can use (discount brokers)Traditional Investment Advisors (investment management professionals)Robo-Advisors (similar to investment management professional/less fees)Hire a financial advisor and stockbroker, brokerage firm to assist you with investing in the stock market:You have a choice to make, perhaps start with a robo-advisor since they spread your money across several different ETFs, then provide full portfolio management for you. All you need to do is fund your account.If you are new to investing in the stock market, after starting out with a robo-advisor, consider starting an account with an online broker. The idea is to use the robo-advisor as your primary investment vehicle, while gradually transitioning into self-directed investing.Give consideration to splitting your investments between a taxable brokerage account, and a tax-sheltered account. The taxable account can be used to invest for intermediate goals, like purchasing a house. The retirement account provides tax-deferred investment income, that will enable your portfolio to grow more quickly.It is important to keep debt to a minimum. Why? The interest you pay on debt is often higher than what you can earn on your investments. It will do little good to invest money at 10%, while you're paying 20% or more on credit cards. Work to become debt-free. 

The Basics of Retirement: Contact a financial advisor, speak with the human resource representative, and work with an investment firm, CPA, and or attorney that specializes in retirement and investing. The items covered below entail parts of retirement instruments, however, there are more.You can never start too young, the sooner you start planning for retirement the better.Do not allow the terms associated with retirement to confuse you.Know that social security as we know it today will not be the same in the future, unless changes are made it might not exist.Consider a 401K plan.Consider an IRA.Simplicity is the key to investing, do your homework and self-study to learn as much as you can about investing.The younger you are as an investor, the more aggressive you can be.If you don't understand investment issues, ask for help, contact the professionalsThrough it all, the key is to invest for your retirement, ask a professional and if your financial advisor doesn't help you, get a new one. What is most important is that you control your retirement destiny, not your financial advisor. Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG 

One can say the difference between an individual and or family with insurance and those that don't are like night and day, because of the bottom line on your financial standing. Paul shares insight on the difference between term insurance and whole life insurance and the difference it can make for your life and family.What is term life insurance? Term Insurance covers you for a set period of time or term, anywhere from5 to 30 years, as long as you pay premiums, this is key. If you die during that term, your beneficiaries receive the payment amount of a $25k and or $100k term policy. If you're alive when the policy expires, the insurance coverage ends. You no longer pay premiums and you don't receive any payout from the insurance company. A convertible term policy allows you to switch to a whole life policy when your term insurance ends, but your premium will rise as a result of your age and health at the time. What is whole life insurance? Whole Life Insurance covers you for your entire life and pays the insurance amount to your beneficiaries. Varieties of whole life insurance include straight life, universal life, variable life, and variable/universal life. Talk to CPA or an insurance professional for more details. Unlike a term life policy, whole life policies feature an investment element. Your insurance premiums include not only the cost of the insurance but also an additional amount that is invested and that grows tax-deferred over the life of the policy. You can borrow against this amount and any loans are deducted from the benefit your beneficiaries receive when you die.  A few questions you must address prior to getting an insurance policy:1. How much does it cost? The monthly premiums for a term life insurance policy are generally lower than for a whole life policy. One concern, though, is that if you want a new term life policy when the old one expires, you may have to pay more. That's because life insurance premiums are based at least in part on your age and health. For example, let's say you buy a 30-year term life policy when you are 30 and the term expires when you are 60. If you decide to get another policy you will pay more because you will be a higher risk from an insurance  standpoint.2. What are your goals? If you would like to use insurance to give your heirs a certain amount when you die, whole life is the most reliable option. Remember, though, that insurance is not your only investment choice and that you may get better returns from another investment vehicle, such as stocks and bonds or a wide range of other investments.3. How should you choose your insurance company? Companies like A.M. Best, Fitch Ratings, Moody's Investors Service and Standard & Poor's Ratings Services rate insurance companies based on their financial stability. These ratings can be found online. You can also turn to your state insurance company for information on complaints against different insurance companies. The bottom line is that it is better to have life insurance in your portfolio. Talk to an insurance professional about this to get even more insight as it pertains to your unique situation.Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG                         

Money leaks are expenses that eat away at your bank account unless you pay close attention to them. A dollar here and a dollar or two there will add up quickly, especially if you do not pay close attention to your bank statements and credit cards.While you might not think much of the few dollars you spend every month on take-out or streaming services, these expenses can add up to hundreds or thousands of dollars per year.Money Leaks:Name Brands: Are not always worth the price. For many types of products, particularly cosmetics, clothes, and prescription drugs, generic or off-brand products offer the same quality at a fraction of the price.Clothes: Opting for smaller known brands that produce high-quality, durable clothing means that you'll spend less on clothes in the long-term, and you won't have to sacrifice looks in the process.Cosmetics: Low-quality products with harmful ingredients may cause negative side effects like allergic reactions, breakouts, and more.Prescription Drugs: By opting for generic prescription drugs, which are typically the exact same as the name-brand versions, you could save thousands of dollars per year.TV Services: Compared to streaming services, cable TV costs are pretty high — and they're getting even higher. By switching to a streaming service or an online cable provider, you can save on your monthly cable bill without missing out on your favorite shows.Takeout or Drive Through Foods: US residents from ages 35 to 44 spent an average of $4,429 on take-out, while people ages 25 to 34, spent an average of $3,416. To save on take-out costs, you should make an effort to plan meals and cook more often at home. Skip the take-out lunch breaks and reserve eating out for special occasions.Convenience Store Purchases/Gas Station Purchases: Small purchases from convenience stores and gas stations can easily be eliminated and save you a significant amount of money in the long run.There are many more money leaks to mention, however, these help you better understand the depth to which you may have these expenses tugging at your purse strings, and or wallet. Check your bank and credit card statements and start closing accounts, modifying your account plans, and saving the difference. Recommend this episode to your family, friends, and colleagues.Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG

 It is interesting to discover, one in three Americans delayed a major purchase decision due to financial woes. A recent study reflects that over one third of Americans have postponed a major life purchase decision due to money. The fact of the matter is, it is actually an improvement over a 2015 study, which reports more than half of Americans reported delaying a decision.If you are an American, work to avoid letting money slip through your fingers. Late fees and overdraft charges combined with costs that come with fraud total up to an average of nearly $600. Just imagine what could do with an extra $600 do for you each year.Note that as of 2020, twenty one percent (21%) of American households have no money set aside for emergencies. This can spell financial disaster. But building an emergency fund is no easy task. Many people feel pulled in so many directions.Four out of five parents, wish they learned more about money as a child. The vast majority was really clear about one thing: they wish they knew more about finances when they were younger. Of course, we know  hindsight is  20/20. Rather than spend time fretting over what you wish you learned sooner, commit to learning even more about money now...and take your kids along for the ride. Many parents admitted that they don't always feel confident having money conversations with kids. Pushing for a financial literacy curriculum and conversations in schools can help. Nothing replaces learning about money at home, so set aside some time and have money talks with your children.Overall we can all do better when it comes to our finances. These survey results represent a baseline in which you can measure where you are on your financial journey and work to master your finances.Learn about Paul Lawrence Vann's digital Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG  

The largest purchase most people ever make is a house. Today it is tougher to purchase a house because of the remnants of the pandemic, the inflationary cycle, the great resignation, and the war in Ukraine.Unfortunately, more and more people find themselves forced to put off this purchase. Student loan debt, underemployment, rising home prices, and stringent mortgage standards prevent people from buying their own homes until later in life.Ensure you have your paperwork in order, for example, ensure you calculate all costs and leave some savings untouched for after you have purchased a house. Ensure you add expenses such as taxes, insurance costs, emergencies, and necessary repairs, such as a new roof, basement repairs, remodel a basement, and more.The process of purchasing a house can be a long and drown out process, demanding most people to build up their credit scores, save up for a down payment, commit to a stable job location, earn an income that qualifies for a large enough mortgage, choose a good realtor, find a suitable place to live, find a home inspector than have an offer accepted.Home Ownership in the United States The average home buyer searches 10 weeks and views 10 homes.The median price of a single-family home in 2018 was $261,600.The average price of a new single-family home in 2018 was $299,400.In April of 2014, homeownership for all ages fell to 64.8 percent, the lowest it's been since 1995.Homeownership is not going to be affordable for everyone, however, there are other ways to purchase real estate. Tune in and listen, thank you.Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG 

The spring of the year is the time frame when high school students and their families work to see what college admits them for attendance. Students apply for the Free Application for Federal Student Aid (FAFSA) form in the United States to determine their eligibility for student financial aid. Once the FAFSA form has been processed, students receive a synopsis of the financial aid that is available to them.in support of attending a post-secondary educational institution in the United States. This funding is used to assist in covering the many costs incurred in the pursuit of post-secondary education. Financial aid is available from federal and state governments, educational institutions, and private organizations. It can be awarded in the form of grants, loans, work-study, and scholarships. Facts: 40 million Americans have at least one outstanding student loan.Americans owe more than $1.75 trillion in student loans, making up 6 percent of the total national debt.The average borrower graduates from college owing $39,300.In addition to signing the promissory note for student loans, take the time to examine exactly when your first payment will be due and how much it will be. When the time to start paying comes, you have options for repayment. The Federal government offers longer-term payment plans as well as graduated repayment options which allow you to bulk up your income and get some job experience under your belt before making larger monthly payments.During certain seasons of life, your income may be severely limited, and affording student loan payments just isn't possible. Fortunately, loan servicers are aware that situations like this occur and have precautions in place to help students get through these difficult times. The bottom line for students with student loan debt is to work closely with the loan servicers and work out terms for repayment, transparency is everything.Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG 

An assumption is made when it comes to credit cards and it is this, everyone knows about credit cards. If this were the case people would use them more judiciously and they would not have the massive credit card debt they have. All people do not have credit cards or plastic cards. Credit cards provide people with the ability to purchase large, unexpensive purchases and more expensive items and they do not have to immediately pay back the purchases and it does not come out of the bank account. Credit cards also help people build their credit history. The annual percentage rate (APR) is the amount of interest that you'll owe the credit card issuer on any unpaid balance. You'll want to pay close attention to this number when you apply for a credit card.Debit card purchases result in money coming directly out of your bank account and it does not build your credit history. Debit cards provide a good start for people just starting out managing their credit. You can't borrow money with debit cards.Ensure you recommend this episode to you your family, friends, and colleagues. Please rate and review episode 220 on Apple Podcasts and be so gracious to provide us with a five-star rating.Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG  

For some generations investing in cryptocurrency is the unknown, in others the older generations hold to tradition when it comes to investing thus stocks, bonds, mutual funds, and its a wrap.Generation Z and Generation X invest in cryptocurrency and include it in their retirement strategy. All generational groups continue working to understand the basics of personal finance, thinking about retirement, and investing in crypto. Note that each generation learn differently. 57% U.S. adults are invested, but just 1 in 3 say they have advanced investing knowledge.About half of the surveyed adults feel they have a deep understanding of consuming (managing spending and keeping a budget), paying taxes, and saving.Cryptocurrency and stocks are the most popular assets held by Gen Z, Millennial, and Gen X investors, but overall, many Americans (49%) have only a beginner-level understanding of digital currency.More than half of each generation expects to retire, and 28% of millennials expect to use cryptocurrency to financially support themselves in retirement, and some Gen X and Gen Z respondents said the same (20% and 17%, respectively).The internet is a go-to source for investing and financial education for the young generations: 45% of Gen Z use YouTube, and 30% turn to TikTok. Millennials prefer internet searches (47%), but also lean on YouTube (40%).While about half of Americans feel they have a strong grasp of financial literacy basics, such as spending, budgeting, paying taxes, and saving, far fewer have the same level of understanding when it comes to investing and digital currency. Americans are least educated about digital currency and investing, however, every generation holds cryptocurrency in its portfolio. The following financial skills you need to learn today:How to save for retirementHow to build or improve your credit scoreHow to reduce debtHow to avoid feeshow to plan for financial riskIn essence, no matter what generation you are in you are a part of your financial knowledge is essential to navigating life.  Investing in stocks, bonds, and mutual funds will remain a constant, however digital wallets are not only the future but today as well. Encourage your family, friends, and colleagues to listen to episode #219, it provides a good synopsis of generational investing and who invests in cryptocurrency and other virtual wallets.Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG 

First of all, the financial wherewithal of youth is very important because it is a forecast of future financial decisions and the results from them. Thousands of high school students were surveyed about their preparedness for the kind of financial decisions and tasks that adulthood requires. As students draw closer to their transition to adulthood, the survey reports consistently low levels of readiness to take on financial tasks from evaluating financial products to establishing and maintaining credit to understanding how to pay for college. These results are not surprising considering financial literacy is not mandatory in K-12 or college.So exactly what are financial skills? Financial skills are knowing how to find, process, and take action based on the information and having confidence in one's ability to reach financial goals. Skill and confidence play an important role in building financial well-being, the low levels of preparedness among young people could be a sign of trouble as students finish high school and move toward financial independence.Understand that prior to taking part in financial education, less than a third of high school juniors and seniors reported that they felt prepared to compare financial institutions and select one that best meets their needs. Slightly more students but still less than half felt they could select, open, and manage a savings or checking account. Young people also reported low levels of confidence in their ability to establish financial habits that contribute to long-term financial well-being: budgeting and managing credit. Half of juniors and seniors said they were “prepared” or “very prepared” to set up and follow a budget, while just a third (32%) felt they could check their credit and maintain good credit over time. The skills of budgeting and managing credit are essential as young people move toward financial independence. The decisions they make in the next one to two years begin to carry consequences that can last much longer, directly impacting their lifetime financial well-being.Other important aspects for youth include the ever-changing banking system which is more virtual than ever before, and  navigating the process of applying for college and financial aid for two-year and or four-year colleges. The bottom line is this, youth of today need to be financially literate, and the sooner they discover how to the better. I have confidence in our youth, they will find a way to become financial literate and when they do, we will have a stronger economy, and  country.

Paul Lawrence Vann provides an insight into investing in the stock market. Continue working and focusing on paying off your debts because it will allow you to not only invest in stock but being able to invest even more. One of the first things you should do is research investing in stocks, and how to find a stockbroker, an investment firm, accountant, and or lawyer.It is important to learn about investing in stock by reading books, talking to a stockbroker, obtain a referral for a professional if you do not want to go it alone. Decide what to invest in and how much to invest by understanding the risks (and potential rewards) of different types of investments. So what is the stock market?Glad you asked. It refers to the collection of markets and exchanges where stock buying and selling takes place. Ready to distinguish the different markets? The terms “stock market” and “stock exchange” are considered to be the same. And even though it's called a stock market, other financial securities —such as exchange-traded funds (ETFs), corporate bonds, and derivatives-based stocks, commodities, currencies, and bonds—are also traded in the stock markets.What should you invest in?This is a decision you must make if you go it alone, this is why you should find a stockbroker and investment firm. Consider some of the following:StocksETF'sBondsMutual FundsThe bottom line is this. stocks like all investments have risk. If you are risk-averse and do not plan to invest for the long run, investing in stocks may not be for you.  If you want to invest in stocks conduct your due diligence and work with a stockbroker, financial advisor, and or an investment firm.Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG 

Americans have a lot of debt, mostly through the use of credit cards, mortgages, student loan debt, and more. Most of us use credits and owe money for some things we do not even use anymore. Sadly, we as a country of 340 million people owe too much.The average U.S. household owes $7,281 on credit cards. When we add in a mortgage, car payments, and student loans it's easy to see how you, like so many others, can get stuck in overwhelm with debt mode. In total, American consumers owe $11.83 trillion in debt, according to the Federal Reserve Bank of New York.U.S. Consumer Debt Totals:Mortgage balances totaling $9.71 trillionNewly originated auto loans of $150 billionCumulative student loan balances of $1.54 trillionTotal Debt Balance and Its CompositionMortgage 68%Student Loans 11%  $1.54 trillionAuto Loans 9%   Newly originated auto loans $150 billionCredit Cards 6%Steps That Lead to Getting Out of Debt1. One must understand how much they owe and how much they can afford to pay off each month.2. Make a plan to focus on debt reduction.3. Break the debt cycle, and start today.4. Establish new habits.5. Pay off your debts, and start saving money.The profile above represents a small sample of the debts people have and it lets us all know we have a lot of work ahead of us to become debt-free. The reality is this, one must work harder to live within their means in this inflationary cycle we are in and carve out the best lifestyle we can for ourselves, while not trying to live like the Joneses. Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG  

When it comes to pillars it is defined as firm upright support for a superstructure, for the purposes of this episode it is personal finance. Everyone has four basic components in their financial structure: assets, debts, income, and expenses. Measuring and comparing these can help you determine the state of your finances and your current net worth. You can think of them as the vital signs of your financial circumstances. When they are all in balance and working for you, your vitals are strong. When things get off-kilter, like your liabilities being off the charts, your finances may need some CPR to set them right.So let us delve into the four pillars of personal finance.Assets:Assets are items that you own and that have value that can be turned into cash when needed. Assets include cash in your personal checking or savings account, whole life insurance policies, 401k's, investments, land, equity in your home, valuable jewelry, and even antique fine china. The key to an asset is its ability to be converted to liquid cash within a short period of time. Your vinyl record collection may be the envy of all your friends, but if you cannot convert it to liquid cash when you need it, then it cannot be considered an asset.Debts:Debts are the accounting opposite of assets and include all accounts payable. Things like your mortgage, student loans, car loans, credit card balances, taxes owed, bills due, and money you owe others for services are all considered liabilities. In addition, accrued interest and principal on mortgages and other loans are liabilities as well. Remember, interest rates are an indicator of the cost of carrying debt, and tend to be negatively correlated with one's credit score: the lower the credit score, the higher the interest rate.Income:Income is all the money you generate. It also includes interest and dividends you make on your investments. Tax refunds also qualify as income. For those under age 65, take-home pay usually constitutes the majority of income. Retirees and those over 65 gain most of their income from investments, Social Security, or pensions. When taking stock of your income, be sure to include benefits that reduce your expenses, such as employer-provided health insurance, or that increase your assets, such as 401K programs.Expenses:Expenses, or outflow, is all the money you spend. To gain an accurate total of expenses, it is important to establish a budget and to keep track of every penny spent. Keeping track of expenses is more challenging than keeping up with income because of the sheer number of different expenses.If you have made an assessment of your pillars of finance, assets, liabilities, income, and expenses, what are your financial vital signs? Are you in a good space from a pillar of personal finance perspective and are you ready for valuable guidance on saving and investing for your future? Or are things looking a little rocky and in need of some help increasing assets, decreasing liabilities, and getting your income and expenses in better balance? Whatever space you happen to be in at this time, know that we are all a work in process.Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG 

Banking is important because as employees and or entrepreneurs, you need a place to put your money. Once while working in support of the Governor of Maryland on a financial working group, we were tasked with assisting immigrants that live and work in the state of Maryland.Many of the immigrants had never had a bank account, so we ensured we provided oversight for them to open a bank account. Some of the immigrants didn't have a bank account in the country they left, they simply didn't trust putting their hard-earned money in a bank. Banks include credit unions and thrifts. A bank is a business that offers you a safe place to keep your money and uses your deposits to make loans. This business is also called a financial institution. Many people keep their money in banks. Let's take a look at some reasons why you might want to keep your money in a bank. • Safety – Money is safe from theft, loss, and fire. • Convenience – You can get money quickly and easily. Using direct deposit, for example, saves you time and allows you quicker access to your money. Funds that are electronically deposited in your account are available sooner than if you deposited a check. We will talk more about direct deposit later. • Cost – Using a bank is probably cheaper than using other businesses to cash your check. • Security – The Federal Deposit Insurance Corporation (FDIC) insures deposits up to the maximum amount allowed by law. This means that if for some reason a bank closes and cannot give its customers the money they had in the bank, the FDIC will return the money to the customers.Opening and maintaining a bank account is not as difficult as you might think. There are four basic things you have to do: • Open the account and go through account verification. • Make deposits and withdrawals. • Record interest and fees. • Keep track of your balance. Banks provide additional services with some deposit accounts. Some banks charge a fee for these services. It is important to keep track of the fees charged if any. The following are common services that banks offer:• Direct deposit • Money order • Telephone and online banking • Automated Teller Machine (ATM) • Money transfer • Debit card • Stored value cards • LoansGet to know these important bank employees: • Customer service representative • Teller • Loan officer • Branch managerBanking is important because it is not wise to walk around with large amounts of cash on your person. Neither is it wish to have large amounts of money at your house. The bottom line is this if you plan on purchasing a house, car, and or investing in a business you will need a bank account, thus the relationships you have with your bank is very important. Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG

The National Financial Education Council is dedicated to combating the financial illiteracy epidemic. Vince Shorb's mission is to create a world where people are informed to make qualified financial decisions and confidently take effective financial action that best helps them meet their basic human needs while moving toward fulfilling their personal, family, and global community goals.Vince Shorb shared his backstory and personal financial journey and the lessons he learned along the way, it  is very compelling.You are going to learn why people make financial decisions that don't align with their long-term goals, Vince shares wisdom on this.Paul asked Vince why parents and people in communities should teach financial literacy lessons to kids, and what should they be taught.There is a multiplicity of life challenges taking place today, Vince provides expertise as to why some people are struggling with the pandemic, the inflationary cycle we're in, and also the war in Ukraine. He provides answers as to how people can mitigate these new challenges.Unfortunately, only a few states teach personal finance in public schools, Vince advocates for financial literacy in more states and schools.Listeners discover the common financial problems people are facing today, Vince provides insight into some of the problems people are facing.Listeners receive suggestions as to who people can turn to for financial guidance if they don't have money to invest, Vince provides insight on this.Vince Shorb provides a definition of what financial literacy really means. That is not all, Vince delivers expertise about the specific knowledge about money everyone should have.In closing, Vince empowers listeners to join him in advocating for financial literacy, including teaching the younger children financial literacy as early in their life as possible, thus the sooner the better. Discover more about Vince Shorb and the National Financial Educators Council at:  https://bit.ly/3Ku0mKx   

Before delving into how to improve your financial literacy now, assess where you stand financially. Here are a few things to consider prior to locking in ways to improve your financial literacy:1. Do you know how to create a personal budget?2. Do you have an emergency fund that covers at least three months of basic living expenses? 3. Do you have a plan for retirement?4. If you have debt, do you have a plan to pay it off? 5. Do you know your credit score and how to improve it?Paul requests that you answer the questions above for yourself and work to improve each one for yourself. Answering the questions above will put you light years ahead in improving your financial literacy.Here are a few things you can do right now to improve your financial literacy:Create a monthly personal budgetStart an emergency fundMake a plan for retirementMake a plan to get out of debtDetermine your credit score and improve on itThank you for listening to this episode because it truly helps you establish a financial foundation for today and  in the future. There will be more on day seven so return for another episode in support of financial literacy tomorrow and the rest of this week.Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG

Every year Financial Literacy Month is celebrated in April. Financial Literacy Month is not only a celebration but is a challenge. This is your opportunity to review your finances and gradually improve them over time. Components of financial literacy:There are several components of financial literacy, which includeearningspendingsavinginvestingborrowingprotectingFinancial literacy consists of the ability to effectively use financial skills, it includes personal financial management, investing, and budgeting.The primary variables of financial literacy include:genderageoccupationmarital statuseducation level of an individualincome.Facts about financial literacy:In the U.S. 1 out of every 5 people lack basic skills of financial literacyTwenty percent of women show basic skills of basic financial literacy, men demonstrated forty-seven percent of financial literacyFifty-four percent of student loan debt holders did not know about the requirement to pay the loans back.Only 20% of adults in the U.S. have received financial educationWomen save 68% for every dollar a man saves for retirementBetter understand the wage inequality between women and men and how this needs to be changed. Insight into the components and facts pertaining to financial literacy.  By the way, Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG

Listen, if you have never developed a financial plan, start today. I know this is a lot for some people to grasp because if you want to do what you have never done before when it comes to creating a budget, your time is now.Understand that when you develop your budget, do not include the gross amount you earn because it is not your take-home pay or what is your net income which is after taxes and other deductions. Next, I recommend you consider a 50%/30%/20% budget profile, meaning 50% is to be allocated to needs such as a mortgage, rent, and other priority items. Allocate 30% for wants such as travel, entertainment, and fun things, lastly allocate 20% for savings, emergency accounts, and investments.List your fixed expenses so you know exactly what to budget for each month such as a mortgage, rent, vehicle payments, and insurance come up with your annual payment. Calculate your variable expenses such as utilities, coffee, movies, etc.to ensure you don't pay them late and or budget to cover these expenses. Lastly, consider automating the process by using your bank or credit union online app to autopay your debts.Avoid third-party apps for bill paying, I recommend using an Excel spreadsheet or legal-size paper to set up your budget, sadly many third-party apps are fraught with advertising costs, and you can possibly be hacked. The bank or credit union will likely provide you with a free bill pay service and you will have all of your money under one roof sort of speak.Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG 

The quote, "When you are in a hole, stop digging," applies to some people when it comes to being in debt. In other words, even though goods and services have increased, some people are going about their lives and not reducing their expenses, this episode speaks to this type of mindset.There are three types of expenses listeners should be aware of, these are fixed expenses, a person pays the same amount each month, think of a mortgage payment. The next is a periodic expense such as a vehicle registration that may be due every two years. Lastly, there are variable expenses which are routine expenses that are different each time you pay. All three of these expense types are impacted by inflation, mind you there is going to be six more rate increases during 2022.Fixed expenses are easy to track and include in your budget, with emphasis on expense reduction. Periodic expenses are easy to save for, thus easy to track as part of your budget. Variable expenses may require a different bank account, a stand-alone account to track and reduce over time.At some point in time, one must ask themselves if they need certain expenses or not, if not, stop and pay it off, and if yes negotiate the expense, transfer, and or manage it better.There are different options to apply that pertain to your expenses, they include: reducing, negotiating, transferring, and managing, so evaluate and assess your options. If you have an apartment negotiate your rent, reduce homeownership expenses, reduce utility expenses, reduce transportation expenses, and reduce loan and debt expenses.Given that we are in an inflationary cycle,  it is even more important to reduce expenses at every level of your life. Whether it is for housing, food, gas, and other goods and services, the time is now for expenses reductions. Day three of the National Financial Literacy Month is one of the most important episodes of this month-long series.Learn about Paul Lawrence Vann's virtual Financial Fitness course, it is being offered at a 50% discount throughout the month of April, National Financial Literacy Month, here is the link:  https://bit.ly/3dbperG

Welcome to the month of April, National Financial Literacy Month and throughout this month I will be producing podcasts to assist listeners in better understanding the importance of being financially literate. This is not all, budgeting can help you offset the inflationary cycle we are in.Here is what budgeting is all about and the assumption that everyone knows what budgeting is all about is not true. Here are just a few things to consider as you budget your money and work to navigate inflation.What is a budget?A finance plan that allocates future personal income toward expenses, savings, and debt repaymentBenefits of Budgeting:•Gives you control over your money•Keeps you focused on your financial goals•Helps you stay aware of where your money goes•Helps you save for expected and unexpected costs•Clarifies areas where you can save moneyThree main components of a budget:IncomeExpensesSavingsWhere to start developing a budget•Understand your money and how you spend it•Make tough decisions about spending priorities•Budget with a lifestyle in mind•Build a budget that allows you to saveBudgeting with a lifestyle in mindClarify the life aspects you give priority, and then split them into 3 areas:•Items that create meaning and bring you joy•Things you want, but that can wait•Things you would like to have, but aren't essentialThings to remember about budgeting•Make sure your list reflects your priorities•You can always adjust your goals as your priorities change•Budgeting takes time, patience, and effort•If your first attempts don't go as planned, don't give up•Look for ways to make tracking spending easier – like mobile appsWhat happens if you don't budget•Overspending•Falling into a debt cycle•Limited spending power•Limited savings and investments•Lack of future securityThe bottom line•Budgeting is about saving money•Better budgeting helps you end up with more money to manage•An accurate budget brings discipline and order to your finances•Use your budget to guide important decisions•Earning more than you spend is the way to a low-stress, comfortable life!When you embrace and take a consistent and committed approach to budgeting you can offset inflation. How? Change your mindset and relationship with money.  For example, instead of purchasing gas at any gas station, comparison shop for the best places to purchase gas. When it comes to purchasing food, you can also compare different grocery stores to get the best value for your money.Pay off credit card debt, interest rates are going to be increased six more times in 2022, per the Federal Reserve, so become debt-free and save money in the process. Lastly, the best way to navigate inflation is to develop a spending plan and stick to it.Discover more about Paul's virtual Financial Fitness course at this link, it is being offered at a 50% discount throughout the month of April, learn more about it at this link:  https://bit.ly/3dbperG

April brings about new opportunities and is recognized as National Financial Literacy Month for its 19th year, and there are quite a few reasons why the designation is as important as it ever has been.First things first, the pandemic is coming to a close, and know that it wreaked havoc across the globe. The loss of life has been staggering, and the financial impact of Covid-19 continues to be felt in every corner of the world.In March the Federal Reserve increased the interest rates and will do so six times in 2022. In the United States, inflation has been increasing at rates not seen in the last 40 years, with the current, and the awful Russian invasion of Ukraine escalating entire financial sectors that were already teetering. Already rising fuel and energy prices have skyrocketed overnight due to the conflict and the ban placed on Russian oil imports by the United States. Households will want to learn how to combat inflation to offset some of the adverse impacts of rising costs.We hope you will commit to increasing your own personal financial literacy. Here are a few ideas to consider:Check out and read a personal finance book from the libraryTune into one financial literacy webinar a week throughout April and share what you learned on your social media pagesRead a children's personal finance book to your kids, grandkids, nieces, or nephews.Subscribe to a new blog or podcast about a personal finance topic you either love or could use help with, start with Wealth Academy Podcast.Three Steps to Take Full Advantage of Financial Literacy MonthConnect financial education to the discipline and teaching of your childMake financial literacy the topic of your book clubAsk and research one financial question a dayHere are some reasons why Financial Literacy MattersPersonal finance remains the number one topic of arguments within a marriage.Parents rank teaching financial responsibility to their children near the top of their wish list.Only a handful of states require high school students to take a personal finance course before graduation.Poor financial literacy leads to poor decision-making which leads to poor behavior which limits the household's ability to reach its financial goals.Through it, all celebrate Financial Literacy Month by participating in events in and around the area where you live. Do not make it a one-time event, rather make financial literacy a lifestyle and enjoy the fruits of this all-important event. Have a great day.Discover more about Paul's virtual Financial Fitness course at this link, it is being offered at a 50% discount throughout the month of April, learn more about it at this link:  https://bit.ly/3dbperG

The 2022 Equal Pay Day is Tuesday, March 15. According to the National Committee on Pay Equity, This date symbolizes how far into the year women must work to earn what men earned in the previous year. Historically, Equal Pay Day was originated by the National Committee on Pay Equity (NCPE) in 1996 as a public awareness event to illustrate the gap between men's and women's wages. It was formerly called National Pay Inequity Awareness Day and in 1998  it changed to Equal Pay Day. For every dollar a man earns, women only earn eighty-three cents, this episode provides insight on the wage gap between them. Women on average earn less than men even if they work the same job, in the same industry, they must work longer to earn the same amount of wages and this needs to change.The female to male ratio of wages from 1960 to 2020 reads as follows: 1960 women earned 60.6% for every dollar men earned and in 2020, they earn 83% for every dollar men earn which is still a wide gap between them. Women earn eighty-three cents for every dollar men earn.There is more than one equal payday, it is also broken down by ethnicity.Women earn less than men in nearly every industry.Women earn less than their same race and ethnicity counterpart at every level of educational attainment.The pandemic has set women's  labor force participation rate back more than 30 years.Paul also shares insight on  the state of the gender pay gap and he provides a synopsis of various industries the pay gaps and inequity exists. More must be done for equal pay for all.Paul Lawrence Vann has one last thing to share and it is this, recommend Wealth Academy Podcast to your friends, family, and colleagues. Please go to Apple Podcasts and subscribe, rate, and review his podcasts, we thank you for being so amazing. Apple Podcasts link: https://apple.co/3hb6QyY

Valarie Austin is President of Vauboix Publishing, LLC. She is  Lieutenant Colonel (Retired, U.S. Army) Austin is a career and college readiness author and trainer. Her college readiness book, “The Student's Comprehensive Guide For College & Other Life Lessons,” is featured on Amazon.com and various other book outlets. Valarie is a prolific and successful professional speaker who has presented to audiences at the VeteransBizUp! Virtual Conference 2021, public libraries, high schools, sorority college preparedness workshops, and other venues.Valarie is a  model academic career training and expertise and she shares with youth about careers and the importance of attending college and careers and if they chose not to attend college? She shared the name of the colleges she attended.She shares why she decided to author your book, “The Student's Comprehensive Guide for College & Other Life Lessons,” about career and college readiness planning.Valarie discussed a few ways that parents can prepare their children for after high school graduation in pursuit of post-secondary schooling.Listeners are provided with the differences between blue-collar and white-collar careers and why blue-collar careers are just as important to pursue as white-collar careers in today's economy.Some criteria that young adults and their parents should contemplate when selecting colleges or technical schools to attend were shared by Valarie.Return on Investment young adults should be considered when selecting a postsecondary school. A few alternatives to college for young people were provided. Valarie shared what circumstances should a high school graduate think about postponing attendance at post-secondary schooling such as college.Valarie shared insight on why there is such an epidemic of student loan debt. She provides steps students and parents can take to reduce the student loan debt burden. That's not all, she synopses how early career exploration reduces the amount of student loan debt, which currently stands at $1.61 trillion as of Feb 2022.Emphasis is placed on why is it important that young adults receive early and often financial literacy training such as budgeting, saving, and more.Dialogue takes place on how parents balance their retirement and saving for their children's post-secondary schooling, it is a wonderful discussion. Valarie publishes blog articles on LinkedIn and hosts a career exploration series called “Employer Speaks” on Youtube. Paul asked what motivates her to branch into those areas to supplement authoring her book and conduct college readiness workshops.As many have been impacted by the pandemic, Valarie shares the impact it had on her ability to conduct career and college readiness workshops. She shares how she was able to adapt and there were fewer in-person events in 2020 and 2021.Inquiring minds wanted to know if Valarie could improve one thing in high school to prepare students for post-secondary schooling, she shared what it would be?The last thing Valarie Austin shares is her May 4, 2022, live event that takes place between 6-7:30 PM, hosted by the Howard County Library System (HCLS). This career workshop titled "College Here I Come, Practical Tips for College-Ready Students." is being held at the East Columbia Branch, 6600 Cradlerock Way, Columbia, MD 21045 (410) 315-7700.If you have questions you can contact Valarie  Austin at info@vauboixpublishingllc.comDiscover more about Valarie's book, The Student's Comprehensive Guide For College & Other Life Lessons https://bit.ly/3N7v3H7     

What is inflation? Inflation is the increase in the price of goods and services over time. Inflation causes your buying power to erode, meaning that the same dollar today buys less in the future. The bottom line to this story is too much money chasing too few goods and services.What is causing the current challenge when it comes to inflation? The market power and the poor media coverage of this market power have provided corporate America with price-gouging that is fattening corporate profits, it's all about shareholders. Sadly, inflation is hurting American households, but the underlying cause of inflation is a lack of competition in addition to corporate greed.Here are a few factors that cause inflation:Demand-pul inflation - Demand-pull inflation happens when the demand for certain goods and services is greater than the economy's ability to meet those demands. When this demand outpaces supply, there's an upward pressure on prices — causing inflation.Cost-push inflation -  Cost-push inflation is the increase of prices when the cost of wages and materials goes up. These costs are often passed down to consumers in the form of higher prices for those goods and services.Increased money supply - Increased money supply is defined as the total amount of money in circulation, which includes cash, coins, and balances, and bank accounts according to the Federal Reserve.Devaluation - Devaluation is downward adjustment in a country's exchange rate, resulting in lower values for a country's currency. The devaluation of a currency makes a country's exports less expensive, encouraging foreign nations to buy more of the devalued goods.Rising wages is exactly what it sounds like — an increase in what's being paid to workers. Wages are a cost of production, if wages rise a large amount, businesses will either have to pass the cost on or live with lower margins.Policies and regulations - Certain policies can also result in either a cost-push or demand-pull inflation. When the government issues tax subsidies for certain products, it can increase demand. If that demand is higher than supply, costs could rise.The financial takeaway: Inflation, generally around 2% per year, is a normal part of our economic system. Under normal financial circumstances, this means that your money is worthless each year unless it is gaining an interest rate greater than or equal to inflation. To ensure that your money is keeping pace with inflation, consider annual salary increases or cost of living adjustments by your employer. Investing your money is also an effective tactic to beat inflation as well. The interest rates you earn on your savings accounts will not likely cover the rising prices. The only caveat is if you have funds invested that are earning a higher rate of return than the inflation rate,Paul Lawrence Vann has one last thing to share and it is this, recommend Wealth Academy Podcast to your friends, family, and colleagues. Please go to Apple Podcasts and subscribe, rate, and review his podcasts, we thank you for being so amazing. Apple Podcasts link: https://apple.co/3hb6QyY 

Kyle Stephenson has been investing in residential real estate since 1990. He owns approximately 300 units individually and an additional 800 units in various syndications. The portfolio is comprised of single-family homes, small apartment communities, and large apartment communities. The primary focus of his holdings has always been to generate cash flow with a secondary focus on long-term appreciation. Kyle shared his backstory as it pertains to real estate investing, and shared whether it found him, and how did his upbringing help him decide on the real estate industry. While attending the University of Pennsylvania Kyle earned a business degree, he provided insight on if he ever imagined one day he would be leading a real estate holding company/property management business.Kyle is the founder of KRS Holdings, DBA Great Richmond Rentals with over 1,000 units of single-family homes and apartments, including syndications in and around metropolitan Richmond, VA. He shares his mission and message that listeners will understand about his real estate and property management business.Paul asked Kyle, for those who have not traveled his journey, what is it like transitioning from growing up in New Jersey to attending college in Pennsylvania, and ultimately living in Richmond, Virginia and when did he know he was living his passion.Kyle and his staff expertly provide property management, Great Richmond Rentals, and manage approximately 4000 units. He provided his personal opinion of where he sees the property management sector going in the next couple of years.With the economy making another pivot with interest rate hikes, inflation, high demand for buying homes, and finding apartments, Kyle provided his opinion of what he foresees for the real estate industry in the next couple of years.Kyle provided words of wisdom to people that want to become real estate investors and property management experts.In closing Kyle shares how people interested in becoming real estate investors can get in contact with him, his company provides some educational resources for prospective real estate investors. His staff continues strengthening communities through their properties in the greater metropolitan Washington, DC area.Kyle Stephenson is incredibly passionate about real estate, personal finance, and creating wealth!  Discover more about Kyle at: bit.ly/36w1Kgn

It happened, it really happened! On March 16 the Federal Reserve increased interest by 0.25 % percent. That is not all, they announced there will be six additional increases through the end of 2022.Why? The Federal Reserve states it is working to offset inflation. OK, good try but why didn't they do this in 2021 to get ahead of this reality. Anyhow this episode focuses on how you and I navigate this rate increase.When you go to the gas station inflation will be staring you straight in the face. Likewise when you go to the grocery store inflation will continue its onslaught on your purse or wallet. The bottom line is this, price gauging is behind a lot of the price increases Americans are experiencing, the fact of the matter is there are only four meat manufacturers in the U.S. and they are pricing their products out of the market. As for gas, it is all about shareholders, people aren't factored into the process when it comes to the tax increases put on the purchase of gas for vehicles.What can you do to navigate inflation and the recent interest rate increase, read on. Follow along: If you have credit cards, work to pay them off because the rate increases will be passed on to you. If you have adjustable-rate loans, mortgages, vehicle purchases, get a fixed rate.Some people will not be able to purchase their dream home, they will be priced out of the market. Supply lines continue to be an issue, along with the war taking place in Ukraine. We live in a global economy so now is a good time to get your financial house in order. If you are going to purchase a house, lock in your rate now. Student loans, credit cards, personal loans, and business loans will all be increasing so it will cost us more to purchase items. Pay close attention to the interest rate increases and see how it goes in the next 90 days.Paul Lawrence Vann has one last thing to share and it is this, recommend Wealth Academy Podcast to your friends, family, and colleagues. Please go to Apple Podcasts and subscribe, rate, and review our podcasts, we thank you for being so amazing. Apple Podcasts link: https://apple.co/3hb6QyYDiscover more about Paul's virtual Financial Fitness course at this link, it is being offered at a 50% discount and will make a difference in your financial life: https://bit.ly/3dbperG 

Celebrate good times come on! Because of you, we celebrate our 200th episode of Wealth Academy Podcast and it would not be possible without you.Please subscribe to Wealth Academy Podcast and you can listen to episodes on https://bit.ly/3n84xSFThe backstory of Wealth Academy Podcast consists of its beginnings which took place during the height of the pandemic in August 2020. In-person speaking venues were nonexistent, thus virtual platforms took on new life and the birth of our podcast evolved.Wealth Academy Podcast's mission is to share financial expertise that will assist listeners in better understanding how to navigate their finances, work to become debt-free, and ultimately invest to grow their money. We also want listeners to appreciate what they have and other aspects of their life are wealthy such as love, strong relationships. peace, joy, happiness, and peace of mind.After launching Wealth Academy Podcast, Paul Lawrence Vann worked hard to bring on new guests and with the help of joint venture partners, he was able to conduct solo episodes and interview guests. Paul has interviewed guests from the U.S.; Canada; Scotland; Jamaica; Ecuador; the U.K.; Belgium; Sweden; Australia; Barbados, New Zealand, and many other countries. Wealth Academy Podcast has followers from over 60 countries, thus it is an international podcast platform as well. A huge thanks go out to all guests we've had on our podcast, subscribers, followers, and fans. We thank the followers in India for being such loyal subscribers, fans, and followers, without them our downloads would not be as high as they are.Again, thank you one and all, and continue celebrating with us as we continue this amazing journey. Paul Lawrence Vann has one last thing to share and it is this, recommend Wealth Academy Podcast to your friends, family, and colleagues. Please go to Apple Podcasts and subscribe, rate, and review our podcasts and know that we thank you for being so amazing. Apple Podcasts link: https://apple.co/3hb6QyYDiscover more about Paul's virtual Financial Fitness course at this link, it is being offered at a 50% discount and will make a difference in your financial life: https://bit.ly/3dbperG

One of the things more families need to do is to have money talks. The focus of money talk should be on the four-letter word, debt.Facts:Credit card debt decreased during the pandemic, however, Americans spend too much with credit cards.1. Average credit card balance  $5,525  dollars2. Average revolving utilization rate 25%3. Loans made by banks $806 billion4. Highest number of credit cards owned by generation is baby boomers 3 cards5.  Gender credit card debt - men $7,407    women $5,2456. Race - Caucasian $6,940  highest  credit card debt   African Americans lowest credit card debt $3,940 Total consumer debt Americans $4.4 trillion, revolving debt $1 trillion, nonrevolving $3.4 trillionWhat can we do about our debt?  Get a spending plan of 50% for necessities, 30% nonessentials, savings/emergency funds 20%, perhaps move monies from nonessentials to savings, to offset your debts.Picture where you will be financially in 10, 20, or 30 years from now. Work to become debt-free and you will exceed your financial expectations. You must start today if you are to live your best life possible during your golden years.Discover more about Paul's virtual Financial Fitness course at this link, it can make a difference on your financial journey: https://bit.ly/3dbperG 

 So what are money leaks? Money leaks are small expenses that add up over time.This can include anything from buying take-out for lunch every day to paying for subscription services that you no longer use.What causes money leaks?Leaking spending results from poor financial planning and impulse purchases that you may not consider expensive at the time, but over time, these purchases add up quickly.What role does a lack of planning play when it comes to money leaks?Poor budgeting and financial planning make it easy to fall victim to leaking spending. If you aren't monitoring your spending and recurring expenses, you're likely to overlook many areas in which you could be saving money.Discover more about Paul's virtual Financial Fitness course at this link, perhaps it can make a difference along your financial journey: https://bit.ly/3dbperGPlan your budget in advance and cut out the unnecessary purchases that don't fit within your budget. Here is a list of money leaks for you to be aware of:Cable Subscriptions – use streaming services instead, however not too manyTake out food, delivery food orders, cook at home insteadPrescription drugs, instead of name brands, purchase generic drugs that cost a lot less.Phone Plans, in particular data, plans excess data usage, late payment fees, etc.Bank fees, minimum monthly fees, maintenance fees, ATM fees, overdraft fees, consider opening an account without feesSubscriptions – email fees for businesses, magazines, online books with Amazon, music, etc.Gym Memberships can be excessive unless you use it on a regular basis to improve your health, it's a good investment, of not to consider home equipment such as a stationary bike, it will help you save money in the long run.Meal Plans can be expensive. You can do better by using coupons at local grocery stores and comparison shopping, preparing meals over the weekend, and carrying in meals to work or school, leftovers are good.Cosmetics/Shave Programs add up over time, the remedy is to find local stores that sell healthy cosmetics that don't harm your skin and shave programs at lower price points.Clothing – Designer clothing is overrated. Comparison shop at a mall or online and you will likely be able to purchase designer clothing at drastically reduced retail prices.Designer coffee at $5 dollars or more a cup, adds up to $150 per month or $1,800 per year. The solution, purchase a jar of coffee at your local grocery store and or online and save a ton.Food waste – People throw away a pound of food per day, this represents a money leak of the highest order. This equates to $1,500 annually.Insurance is another area upon which people can save more money, thereby preventing money leaks. For example, during the pandemic people didn't drive as much, thus their insurance company could adjust their policy because of fewer miles driven, less risk and you save more money.Did you identify money leaks you currently have? If so, do something about it to prevent this from happening to you today and in the future. Discover more about Paul's virtual Financial Fitness course at this link, perhaps it can make a difference along your financial journey: https://bit.ly/3dbperG 

According to small business failure statistics, nearly a third of companies don't make it because they simply run out of cash. This makes sense considering that 67% of owners use personal funds to deal with their financial crisis, which can become extremely costly in the long run.There is one thing entrepreneurs, small business owners, and startups need and it's this…they all need capital or money to operate. During this episode, I will be sharing my resource and partnership with Fundwise Partners and how you can position yourself to obtain capital for your business and or become an affiliate of Fundwise as well.Join Fundwise Partners at this link:  https://bit.ly/3sKORaQWatch the Fundwise Partner training webinar at this link:  https://bit.ly/3tC0ArpCount the number of ways entrepreneurs can apply for and qualify for business capital and funding, here is a shortlist for your consideration:1. startups2. business funding3. inventory4. employees5. payroll6. consulting7. franchising8. marketing9. vehicles10. emergencies11. restaurants12. expansion rea estate13. Professional licensing funding, doctors, attorneys, real estate14. SBA15. Real Estate – Hard money Loans (Investors)16. Sub-Prime Business Funding17. Lines of CreditDiscover more about Fundwise Partners at this link:  https://bit.ly/3vLJpGE  

Wendy Brookhouse is a financial planner extraordinaire and during this episode, she weaves her experience in business consulting, business ownership, and focuses on simplification to achieve outstanding results. Wendy Brookstone shares what and who inspired her to get involved in the financial services space as a financial advisor. She is the founder and Chief Strategist for Black Star Wealth and she shares her mission and message about her business.Wendy provides insight as to what people should take into account with their behavior and mindset blocks, she provides the backstory of factors such as the decision-making of people, that don't subscribe to the power of mindset.When I said the words, One Number Solution, Wendy provides concepts viewers and listeners should understand about it.I encourage Wendy to get after it, when it comes to her Wealth Accelerator program and how people can discover more about it and how it can help them.Wendy Brookhouse works with entrepreneurs and business owners to help them grow their wealth, she shared what this looks l like for them and their financial planning. Wendy is the author of the book, Burn Your Budget and she hosts The Real Bottom Line Podcast. As the interview was coming to an end, Wendy shared how listeners can get in touch with her and she provides a free assessment for people: totalwealthscore.com Learn more about Wendy Brookhouse on her website  https://bit.ly/3Kd0xsP  

Just imagine that you had an extra one thousand dollars in the bank, perhaps it was a gift, you saved it, and or it was a side hustle that was in play. So, what would you do with the money? This happens to people every day and it could happen to you. Below you will find a few ideas I am recommending as to how you can manage your extra one thousand dollars:Some online banks do not charge fees for banking with them because they don't have a lot of employees or staff, thus they can afford to pay you a high-interest rate on your deposits, some of them pay up to three percent interest.Invest in real estate, not houses, rather commercial real estate. You read this right and you can deposit as little as five hundred dollars to invest in a percent share of various properties located around the United States.Pay off some of your debtsDeposit a thousand dollars in an emergency fundRetirement account, 401k, Roth IRADeposit into a college fund (529) program for your childrenInsurance is a wonderful investment, get a whole life policy, talk to an insurance agentGet an estate plan, use the extra 1k to hire a lawyer to develop a plan for you and your familyStart a side hustleInvest in yourself, learn a new skill that can generate income for you.Money respects movement, thus if you have an extra one thousand dollars use it to grow your wealth. Are there more ways to grow your money? Yes. Anyhow, I hope this helps you out, enjoy and see you on the next episode of the Wealth Academy Podcast.Discover more about Paul's virtual Financial Fitness course at this link, perhaps it can make a difference along your financial journey: https://bit.ly/3dbperG

As people go about their day-to-day life, they don't think about living without debt because they are just trying to do their best. Here are a few tips to consider to assist you in positioning yourself to live a life without debt which is more possible than you will ever know.Don't neglect saving money, pay your debts but don't do so at the expense of your savings and emergency account.Investing assists in building wealth, do not stop investing because it will help you pay off your debts a lot sooner.Do not get rid of your credit cards, if used responsibly they can make a difference if you have an emergency. Pay more than the minimum each month to accelerate repayment of the debt.Neglecting insurance can result in paying for medical and or automobile debts if you need treatment and or if you have a vehicle accident. You need adequate insurance coverage no matter what and it can help you live debt-free.Stick to a budget, never stray away from it. Come up with your own unique budget, consider the 50/30/20 plan. After-tax income or 50% should go towards your mortgage, rent, and other essentials., 30% should go towards entertainment or fun account, and lastly, 20% should go towards savings, paying off your debt, and investing,The key to living debt-free is to not overspend. The bottom line is to develop a budget, use discipline, and create a concrete spending plan, without it, you will be living with debt which is counter to what you want to achieve financially.You can live debt-free, so you decide when you want to begin this process. If you have any questions about living debt-free contact Paul at (800) 341-6719 or email him at info@paulvannspeaks.comDiscover more about Paul's virtual Financial Fitness course at this link, perhaps it can make a difference along your financial journey: https://bit.ly/3dbperG

Take it from Paul Lawrence Vann, with inflation making its presence felt in our lives, with war just starting and the economy is going through yet another shift, it is high time for us all to get our money goals and resolutions in order. Paul shares a few steps and recommendations to help you jumpstart your money goals for 2022.Here are a few steps to start you along your money journey:  Establish a budgetGet a budgeting app or money appGet a will, contact an attorneyGet an estate planProtect your savings from inflation, see episode #184 I discuss this in more detailInterest rate increases will be occurring in the coming weeksStarting a business offers good opportunities to leverage the tax codeMajor life events (marriage, venues, honeymoon etc.)Retirement savingsFile your taxesCryptocurrencyOne of my goals is to help you set money goals and resolutions to help you grow your money each and every quarter so when you look back on the year 2022, you will have doubled or tripled your savings by year's end. If you have any questions contact Paul at (800) 341-6719 or email him at info@paulvannspeaks.comDiscover more about Paul's virtual Financial Fitness course at this link, perhaps it can make a difference along your financial journey: https://bit.ly/3dbperG 

Count the cost of managing your finances off the cuff and without discipline because when you do this, you will experience overspending. As a financial strategist Paul works with clients, designs virtual courses, and coaches people on how to develop their very own personal finance system that will help them assess their entire financial management ecosystem.The problem a lot of people are encountering is inflation and the time is now to align your finances with a new and improved money-focused lifestyle. Here are a few tips to help you along your financial journey, remember to create a spending plan:Keep a close eye on your credit card interest paymentsCut your cablevision accountReview and get rid of unnecessary insurance policiesDo away with pricey gym memberships and classesReevaluate pricey gifts for birthdays, holidays, and moreThe cost of smoking has increased exponentially, stop smokingTake time out to evaluate your phone plan, it may be costing you more than you knowCut back on and do away with the food delivery and takeout, the prices are astronomicalFinancial advisor fees may be costing a lot more than you think, evaluate how much you are payingThere are more areas of expense to consider, however, these will jumpstart you along your journey. While you are at it discover more about Paul's virtual Financial Fitness course at this link, perhaps it can make a difference along your financial journey: https://bit.ly/3dbperG