We’re kicking off the week by answering your questions! And if you have a question for us, we’d love for you to submit your own via HowToMoney.com/ask/ , send us your voice memo!
- Do I need to report rental income that I’m receiving from my daughter to the IRS?
- Should we stay with the insurer we know and trust or should we shop our coverage to bring down the cost?
- What’s the deal with secured credit cards?
- How should I minimize my savings in order to maximize financial aid for my college bound kids?
- Am I able to still contribute towards my Roth IRA for last year if I didn’t open that account until this year?
Additional links from this episode:
- I called it the Brew ‘n View up in Asheville, but it’s technically Asheville Pizza & Brewing
- Don’t cheap out on insurance but we do want you to save as much money as you can!
- Our interview with Elisia Howard where we discussed getting the most financial aid.
- Secured credit cards are a great option for folks who don’t have good or any credit history, but the newer Petal Credit Card does the same and it’s not a secured card!
- Here are the best credit cards for consultants and contractors, if you have a small business!
During this episode we both enjoyed a Seeing Double by Anderby Brewing. And as we’ve kicked things off with a bang in 2021, we could really use your help to spread the word- let friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money in these difficult times!
Best friends out!
Hi guys,
Love the podcast. I’ve learned quite a bit. Thanks.
My question is about what CC to use.
My gf has the Amex card that pays 6%.
I have the citi double card that pays 2%
I also have the Amazon that pays 5% on Amazon purchases.
I switched from the big bank Chase to a credit union. They have a CC that pays 1% but it puts it into a special savings account that currently earns 5.31%. Pre covid it was at around 10%.
What is my best scenario?
I pay the balance each month so I want to get the most reword for everyday purchases.
Thanks for any advice.
Baron Bugala