Welcome to KFI's BRAND NEW Sunday show, 'How To Money with Joel Larsgaard.' Tune in every Sunday 12-2pm to hear Joel talk about all things personal finance and listen live, on-demand, anytime on the iHeartRadio app. Joel's goal for the show is simple. He wants you to Save, Invest and Enjoy More of What Matters.
Stat Of The Week: This year the average American took on more than $1,549 in holiday debt, and most will take more than 6 months to pay it off so in reality it'll be even more. So how do you tackle that holiday debt?
Money Move Of The Week: Start a holiday fund NOW. $10 a week is all you need to put aside in a physical envelope or a separate bank account, but a small amount can give you everything you need by the time the holidays come around to not end up in debt after New Year.
Will a recession happen? Truth is, no one really knows and if it does, no one knows how bad it'll be. But a personal recession could happen anytime, so Joel's advice, shoot for keeping $2,467 in a savings account at all times!
Egg prices are NUTS, and higher in California than anywhere else.
There is a disturbing rise of car payments of $1000 a month or more! Rethink the way you look at a car, are you taking on a huge payment because you want to show off with a nice car or is it just something to get you from Point A to Point B. Joel's advice, If you can't afford to pay your car in cash, don't take on a huge payment each month.
Changes to retirement plans this year, what is the 'Secure Act 2.0.'?
Websites mentioned today:
- undebt.it - To help you reduce debt
- Doctor of Credit - Find the best deals for banking, credit cards and more
- Edmunds.com - Best deals for cars, both new and used
Hear the entire show below!