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Smart Start Money provides information on making smart money decisions. Providing tips, personal experiences, and opinions on saving smart and spending smart. Times have changed since getting a job and keeping the same place of employment for a lifetime. The average time spent with one employer is now three to five years. Companies are replacing workers with lean staff that previously held more people to accomplish the same tasks. This has resulted in periods of unemployment for many people making it challenging to save for retirement and stay debt-free. The rising costs of healthcare, consumer goods, and wages that often do not seem to keep pace with the cost of daily life make it more important than ever to make smart financial decisions. Millions of people struggle each day to get ahead. The intention of Smart Start Money is to not only provide insight into saving or spending but also open conversations. Discussions relating to the economy, employment, and even the occasional forbidden topic of politics are possible. If the subject matter has a correlation to helping people with their finances or questioning the so-called experts, it is open for dialogue. It has never been more important than ever to save and stay out of debt. No one has all the answers when it comes to personal finance. People come from all different backgrounds in life. The choices we make and the opportunities available are never identical. We can all learn from each other.
Episodes
Thursday Jul 08, 2021
Pay Off Debt or Save Money for Emergencies?
Thursday Jul 08, 2021
Thursday Jul 08, 2021
Should you pay off debt or save money for emergencies? This question often comes up about personal finance. The answer really isn’t just as simply one or the other as some supposed financial experts claim. There is a lot more that goes into deciding to pay off debt or saving for unexpected emergencies.
It’s essential to both save money for emergencies and pay off debt. Don’t just focus on one of these goals at a time. Both need to be achieved and finding a balance between saving money and paying debt is almost always the best solution financially.
This podcast episode talks about deciding to pay off debt or save for an emergency fund.
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Thursday Jun 24, 2021
What is the Student Loan Default Rate?
Thursday Jun 24, 2021
Thursday Jun 24, 2021
The student loan default rate is estimated on average at around 15% at any given time. This number should not come as a surprise with the higher education debt problem now at almost $1.6 trillion. Student loan debt has been on the rise as colleges have historically seen their tuition rates rise at about twice the rate of inflation.
Defaulting on student loan debt can result in serious consequences to a person’s financial life and well-being overall. Carrying a mountain of debt for higher education expenses for so many people is a stressful situation that leaves numerous borrowers choosing to default on their student loans.
This podcast episode talks about the student loan default rate.
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Thursday Jun 03, 2021
Thursday Jun 03, 2021
With the cost of higher education today, getting tuition reimbursement through an employer to pursue a college degree can certainly be beneficial. More than half of all employers are now estimated to offer some type of tuition reimbursement. However, just because a company offers the benefit of helping with college costs this doesn’t mean it is available to everyone.
If you are interested in tuition reimbursement from a potential or current employer, there are some important questions to ask in order to establish the chances of getting the support. There are no guarantees from companies that claim to provide tuition reimbursement and often it comes at their full discretion with several obstacles to overcome to get help with tuition costs.
This podcast episode talks about employer-provided tuition reimbursement and why it is not a guarantee.
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Thursday May 20, 2021
Should More People Buy Whole Life Insurance for the Savings Component?
Thursday May 20, 2021
Thursday May 20, 2021
Financial advisors licensed to sell whole life insurance often have a motivation to sell it to their clients. The reason results from the generous commissions insurance companies are willing to pay for a whole life policy that is sold. The payout from selling a whole life insurance policy can be as much as 70% of the first year’s premium for an insurance salesperson. A sale might also include 3% or more in further commissions each year a policy remains in force.
Whole life insurance policies are sometimes conveyed to save for retirement or to accumulate cash value. There are some rare instances it can make sense to purchase a whole life insurance policy. However, most people should never purchase whole life insurance strictly for the savings component and there are several reasons why.
This podcast episode talks about why whole life insurance should not generally be used for saving.
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Thursday Apr 29, 2021
Should You Buy Your Next Car Through an Auto Rental Company?
Thursday Apr 29, 2021
Thursday Apr 29, 2021
Popular auto rental companies selling their vehicles are nothing new. Some people would claim you can find a good deal on buying a car through a rental car company. However, I am not so sure. There are both pros and cons to buying a used car through a car rental company and the negatives often far outweigh any possible upside.
This podcast episode talks about buying a car through a rental car company.
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Thursday Apr 22, 2021
Stimulus Checks Are Not Free Money
Thursday Apr 22, 2021
Thursday Apr 22, 2021
The stimulus checks sent out by the government were not just free money. There will be a price paid for all the money printing that has occurred. There is no question the pandemic with Covid created some real economic problems. However, stimulus checks are not going to solve most of the trouble with money for America.
This podcast episode talks about the government stimulus checks that were sent out as a result of the pandemic.
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Thursday Apr 15, 2021
Why Is a $15 an Hour Federal Minimum Wage a Terrible Idea?
Thursday Apr 15, 2021
Thursday Apr 15, 2021
The politicians in Washington that are proponents of a $15 minimum wage claim that it will raise the pay rate for people to one that is a livable wage. Although the Congressional Budget Office estimates a rise in the minimum wage to $15 would increase the income of around 7 million people, the increase in wages would also result in a loss of 1.3 million low-end jobs, according to the Department of Labor.
A $15 an hour minimum wage might sound like a good idea. This is particularly the case if you are currently earning a low wage. There is no argument that living on a low hourly pay rate is a challenge. However, raising the federal minimum wage to $15 will not likely have the outcome many people are hoping for.
This podcast episode talks about the problems with raising the federal minimum wage to $15.
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Thursday Mar 18, 2021
How Much Does Auto Insurance Cost for Teens?
Thursday Mar 18, 2021
Thursday Mar 18, 2021
If you have a teenager approaching the age to drive, you are likely starting to consider how much auto insurance costs for a teen driver. Most parents of teen drivers already expect their auto insurance rates will probably go up in cost. However, some are shocked when the price goes up much more than they expect.
There really isn’t an economy insurance rate for first-time drivers. Yet, there are some things you can do to try and save as much money as possible.
This podcast episode talks about the high costs of auto insurance for teenage drivers.
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Tuesday Feb 23, 2021
Is Free College and Student Loan Forgiveness a Good Idea?
Tuesday Feb 23, 2021
Tuesday Feb 23, 2021
Free college and student loan debt forgiveness has become a popular topic. This is particularly the case with several politicians in Washington. The subject was also a hot issue in this last Presidential election. People being able to attend college without incurring any debt or having decades of current student loans forgiven seems like a good idea to some people. However, free college really doesn’t solve the ultimate problem with higher education which is the cost.
This podcast episode talks about why student loan forgiveness and free college are not a good idea.
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Tuesday Feb 16, 2021
Door to Door Sales: Scams, Schemes, and Annoying
Tuesday Feb 16, 2021
Tuesday Feb 16, 2021
Door to door sales would seem like it should be something of the past. Yet, it seems there are still quite a few businesses that believe in a face-to-face sales method by knocking on doors. The problem with this is the opportunity for less than honest salespeople to pressure unsuspecting consumers to buy into a sales pitch. Scams involving door-to-door solicitations are also nothing new but they do seem to be on the rise.
This podcast episode talks about door-to-door sales and how to protect yourself from a scam.
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