KTs Money Matters

In this episode, KT and Karen Briscoe discuss:

Compound interestHow to write a successful bookHow Karen measures successActing on your thoughts 

Key Takeaways:

Make sure you create good habitsStay focusedDo one concept a dayThere is so much left to do”Am I at my highest and best right now?” – Karen Briscoe

About Karen Briscoe: Karen Briscoe is the creator of the transformative “5 Minute Success” concept. Her books Real Estate Success in 5 Minutes a Day: Secrets of a Top Agent Revealed and Commit to Get Leads: 66 Day Challenge® offer a combination of information and inspiration delivered through memorable stories. The daily format with takeaway to get into action propels one to achieve success at a higher level in business and life. Topics include: Commit to Get Leads; Consult to Sell; Connect to Build and Grow; Success Thinking; Activities and Vision; which all lead to the Sweet Spot of Success.

Her first book was featured in INMAN as “must read for your best year in real estate” in 2017. Amazon ranks the book in the top 1% in its category. It has been endorsed by industry leaders Hal Elrod and Michael J. Maher. She is a contributing author to INMAN and Real Trends real estate media outlets.

Karen is the host of the 5 Minute Success podcast which currently ranks on Overcast #1 most recommended in the business category. The show has an amazing array of guests who achieve success at a high level. Karen also is a frequent guest on other podcasts that focus on entrepreneurial, success and motivation, as well as real estate related topics. She speaks on a national and local level on the “Best of 5 Minute Success.” Further she has completed the John Maxwell Team Certification Program for Coaching, Speaking and Training.

Connect with Karen Briscoe:

Website: www.5MinuteSuccess.com

Facebook: https://www.facebook.com/groups/5minutesuccess/

LinkedIn: https://www.linkedin.com/company/11064759/

Twitter: @5MinuteSuccess

Podcast: 5 Minute Success

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT’s book- The Hardworking Woman’s Guide to Money

Show notes by show producer: Anna Nygren

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Taking Care of Aging Parents

In this episode, KT discusses:

When should you help your parentsHow to step in to helpParents don’t want to ask kids for helpKey Takeaways:

Aging is an undignified processHelp your parents watch for elder fraudWatch closer when they are older than 75“When you are by yourself it’s a lot more difficult.” – KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT’s book- The Hardworking Woman’s Guide to Money

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In this episode, KT and Rachael Ela discuss:

When you should go into a physical bankAt the death of a parent, what do you do?What banking precautions you can put in placeHow to not take away dignityKey Takeaways:

Your parents’ local bank will notice when your parents start to do things out of the ordinaryLook at your parents’ statement or get access to their online bankYou don’t need to take over your parents’ accountsWhen you notice a change, start having a conversation with them“Getting online access to your parents bank while your parents get the paper statements is a great way to monitor their account.” – Rachael Ela

About Rachael Ela:  Rachael Ela is a Vice President and Branch Manager of Optima Bank & Trust, working in the Stratham, NH market. She has over 18 years of banking experience and has spent the last seven in the New Hampshire market working with local business owners, municipalities, and nonprofits. Rachael currently serves as Chairwoman of the Exeter Area Chamber of Commerce, a board member of the Exeter Society of St. Vincent de Paul Community Assistance Center, and is a Past President and Paul Harris Fellow of the Exeter Rotary Club. She is a graduate of the New England School of Financial Studies at Babson College and resides in Exeter.

Reach Me Here: Rachael Ela

Business: Optima Bank & Trust

Website: www.optimabank.com

Reach Me Here: KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT’s book- The Hardworking Woman’s Guide to Money

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In this episode, KT discusses:

Economists’ viewpoint on tariffsPresident Trump initiating tariffs on both steal and aluminumWhat other countries are doing with tariffsGood and services on a budgetKey Takeaways:

Tariffs can drive up the cost of thingsWe as consumers are not willing to pay more for clothing which tends to enable the negative side of a tariffThe average hourly wage of a worker has been fairly flat on an inflation adjusted basis for the past 8 years“The most hurt consumer in a tariff war is the middle class.. Because they shop in the stores that carry the most stuff that’s brought in from around the world.” – KT Thomas

Reach Me Here: KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT’s book- The Hardworking Woman’s Guide to Money

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In this episode, KT and Rachael Ela discuss:

Banking feesThe cost of not paying attentionBanking in 2018Properly using overdraft protectionKey Takeaways:

The FDIC now requires banks to track what people are spending on banking (the first quarter of tracking totaled to 7.4 billion dollars spent)If you’re writing a check or making a payment, you need to have that money in your account at the time of the paymentOverdraft protection is a credit line — it’s something that automatically sweeps over when you need itIt’s important to look at your accounts/statements and see if you’re using your accounts properly 

“The financial system, in general, moves a lot faster than it used to last year, five years ago, and definitely twenty years ago.” – Rachael Ela

About Rachael Ela:  Rachael Ela is the Vice President and Branch Manager of Optima Bank & Trust, working in the Stratham, NH market. She has over 18 years of banking experience and has spent the last seven in the New Hampshire market working with local business owners, municipalities, and nonprofits. Rachael currently serves as Chairwoman of the Exeter Area Chamber of Commerce, a board member of the Exeter Society of St. Vincent de Paul Community Assistance Center and is a Past President and Paul Harris Fellow of the Exeter Rotary Club. She is a graduate of the New England School of Financial Studies at Babson College and resides in Exeter.

Reach Me Here: Rachael Ela

Business: Optima Bank & Trust

Website: www.optimabank.com

Reach Me Here: KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT’s book- The Hardworking Woman’s Guide to Money

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In this episode, KT discusses:

The type of people who buy gym membershipsThe challenges of cancelling your gym membershipThe yearly cost of average gym memberships 

Key Takeaways:

It’s hard to cancel membershipsPeople pay for a membership they don’t use because they hope to come backBe a little forceful in cancelling your membership“They do everything they can to keep you paying. And pay we do.” – KT Thomas

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT’s book- The Hardworking Woman’s Guide to Money

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In this episode, KT and Rachael Ela discuss:

Steps that you shouldn’t skipTypes of accounts to open for your businessUnderstanding your bank’s funds availability policyThe expense of going too fastKey Takeaways:

Find an attorney, find an accountant so that you give your business a strong financial foundationMost banks will allow you to start out with a simple account and upgrade it as your business growsWhen you write a check, you’ve got to have those funds ready and available in your account at the time you cut the checkWhen you’re considering a business line of credit, your bank will ask you questions like “Why do you need this line of credit and when will you draw on it?”“Just like personal accounts, there are a huge amount of options out there for businesses.” – Rachael Ela

About Rachael Ela:  Rachael Ela is the Vice President and Branch Manager of Optima Bank & Trust, working in the Stratham, NH market. She has over 18 years of banking experience and has spent the last seven in the New Hampshire market working with local business owners, municipalities, and nonprofits. Rachael currently serves as Chairwoman of the Exeter Area Chamber of Commerce, a board member of the Exeter Society of St. Vincent de Paul Community Assistance Center and is a Past President and Paul Harris Fellow of the Exeter Rotary Club. She is a graduate of the New England School of Financial Studies at Babson College and resides in Exeter.

Reach Rachael Ela:

Business: Optima Bank & Trust

Website: www.optimabank.com

Reach KT Thomas:

Website: https://ktsmoneymatters.com/

Purchase KT’s book- The Hardworking Woman’s Guide to Money

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In this episode, KT discusses:

The current real estate trendRecent change in taxes for 2018Rise in the higher market interest rate 

Key Takeaways:

Homes went up 5.7 percent last yearDon’t go house brokeMortgage rates are starting to go up 

“If you are thinking about buying a house, think now vs. two years from now.” – KT Thomas

Real Estate Numbers- realtor.com

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In this episode, KT and Tammy Symons discuss:

Financial changes to consider when you start a familyHow to care for that child when both parents are workingKeeping insurance in mindPlanning for your child’s educationKey Takeaways:

Create a new budget – because your grocery bill, clothing bill and much more is going to changeIf the parent leaving the workforce has the health insurance under his/her group policy, that needs to be addressedIt’s important to start saving for college as early as possibleIf you started saving $100/month when your child is first born, you could end up with about $38,000 when your child attends college… if you wait until he/she is 4, you’ll end up with $26,000… If you wait until he/she is 10, you’ll end up with about $12,000“The US Department of Agriculture came out with a study based on 2015 numbers, saying that the average kid from cradle to college costs between $175,000 – $375,000.” – KT Thomas

Connect with Tammy Symons, CFP:

Website: www.newdaysolutions.com

Email: tammy@newdailysolutions.com

Phone: 800-834-2101

Click here to reach KT  

Connect with KT Thomas: https://ktsmoneymatters.com/

Purchase KT’s book- The Hardworking Woman’s Guide to Money 

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In this episode, KT and Tammy Symons discuss:

How to rebuild yourself after divorce, financiallyHow your expenses changeThe help of a professional through a divorceProtecting your credit score 

Key Takeaways:

Putting together your new income vs. expenses and understanding what that is, is a great first stepSometimes, the beauty of going through a divorce is you having the ability to make and craft your own retirement goalsGet rid of joint credit cards ASAPMake sure you understand what the divorce agreement states… keep an eye on your beneficiaries for your life insurance, your retirement accounts etc. 

“There are going to be changes in earned income as well as expenses paying out child care… those changes are most likely going to happen and you need to account for what those changes are going to be.” — Tammy Symons

Connect with Tammy Symons, CFP:

Website: www.newdaysolutions.com

Email: tammy@newdailysolutions.com

Phone: 800-834-2101

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