Theology Gals | Episode 110
This week Coleen and Angela address being wise with our money. Below you'll find an outline of the topics discussed.
Budgeting
Budgeting software options
Work on your budget together as a couple
Budget for everything
Getting out of debt
Pay off highest interest debts first
Pay more than the minimum
If you aren't carrying a balance on your credit card DON'T START!
Saving
Emergency Funds
Saving for bigger purchases
Christmas
Vacations
Home improvements
Cars
Saving for retirement (which will tie in with investing)
Investing
Types of investments
Debt (bonds)
Real Estate
Equity (stocks)
Derivative investments (options, hedges, other very complex instruments)
Why Invest
Inflation
Lifetime avg return on the market
Basics
Start early
Max it out, get every match dollar
Diversify (talk about risk)
Individual stocks >40
Mutual funds
Diversify across asset type as well
Shift strategy with age
Not so great financial decisions
MLMs
Credit cards
Buying too much house
Viewing a car as an investment
Not saving for retirement
Whole life insurance
Giving
Teaching children to be wise.
Young children
Teenagers
Women can join our Facebook Group Theology Gals-Ladies Theology Discussion and Encouragement
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