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Ep. 426: Parent PLUS Loans Are the Bane of Our Existence?!
סדרה בארכיון ("עדכון לא פעיל" status)
When? This feed was archived on December 27, 2023 01:24 (). Last successful fetch was on November 07, 2023 12:32 ()
Why? עדכון לא פעיל status. השרתים שלנו לא הצליחו לאחזר פודקאסט חוקי לזמן ממושך.
What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.
Manage episode 302791287 series 1785727
We want to answer your questions about money. Email us and you may hear yours on the air: askpete@petetheplanner.com
This week on the Pete the Planner Show, Pete and Damian drop in with a new intro! You’ve got to hear this.
No time to listen? Here’s a preview of what happened and when:
Show Notes:
PARENT PLUS LOANS ARE THE BANE OF EXISTENCE: [5:03]
- Nerdwallet has a new survey for people with Parent PLUS Loans
- DAMIAN: There are typically some unintended consequences that come with Parent PLUS loans. This can go far beyond family disharmony and reach into jeopardizing retirement accounts.
- PETE: Prior to a student capping out their student loans, the choice of school and according scholarships weigh in.
- DAMIAN: Often times, bonuses and potential future incomes don’t come in leaving parents to supplement their child’s education
- PETE: I believe the toughest years of someone’s life are 47-53 – your kids are going through college, your midlife crisis, your health is changing, and so much more. Don’t put a Parent PLUS loan in the mix on top of this
- DAMIAN: Make sure you’re not going to cut yourself off at the knees as you go through this period of your life
HOW TO TURN OVER A NEW LEAF, FINANCIALLY: [19:58]
- I previously have not been great with money. I want to turn over a new leaf. I want to show a commitment to myself and others, but how do you actually do that?
- PETE: I think it’s beyond the budget. I think it starts at saving 10% of any income, no excuses. This is the best place to start.
- DAMIAN: There’s a tangible result, but that 10% number could feel like a lot of money to some. Maybe try $1 on day one, $2 on day 2, and so on…
- PETE: A friend of mine became a barber years ago. His dad told him to set aside $10 cash every day. He did. He had saved $10 per day, and $30 on Fridays to account for weekends….he did this for fifteen years. At the time I spoke with him, he had something like $55,000.
- PETE: Step two is to critically look at your expenses and ask, “Does this actually matter to me and what I care about today?”
- PETE: Step three is to create a realistic household budget. There are countless ways, but try something.
Keep it locked for even more! Check it out in the full show! — click PLAY below.
SIDE NOTE:
— Before you go, give your personal finances a facelift. Peep our personal guidance platform: Hey Money. —
The post Ep. 426: Parent PLUS Loans Are the Bane of Our Existence?! appeared first on Pete the Planner®.
300 פרקים
סדרה בארכיון ("עדכון לא פעיל" status)
When? This feed was archived on December 27, 2023 01:24 (). Last successful fetch was on November 07, 2023 12:32 ()
Why? עדכון לא פעיל status. השרתים שלנו לא הצליחו לאחזר פודקאסט חוקי לזמן ממושך.
What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.
Manage episode 302791287 series 1785727
We want to answer your questions about money. Email us and you may hear yours on the air: askpete@petetheplanner.com
This week on the Pete the Planner Show, Pete and Damian drop in with a new intro! You’ve got to hear this.
No time to listen? Here’s a preview of what happened and when:
Show Notes:
PARENT PLUS LOANS ARE THE BANE OF EXISTENCE: [5:03]
- Nerdwallet has a new survey for people with Parent PLUS Loans
- DAMIAN: There are typically some unintended consequences that come with Parent PLUS loans. This can go far beyond family disharmony and reach into jeopardizing retirement accounts.
- PETE: Prior to a student capping out their student loans, the choice of school and according scholarships weigh in.
- DAMIAN: Often times, bonuses and potential future incomes don’t come in leaving parents to supplement their child’s education
- PETE: I believe the toughest years of someone’s life are 47-53 – your kids are going through college, your midlife crisis, your health is changing, and so much more. Don’t put a Parent PLUS loan in the mix on top of this
- DAMIAN: Make sure you’re not going to cut yourself off at the knees as you go through this period of your life
HOW TO TURN OVER A NEW LEAF, FINANCIALLY: [19:58]
- I previously have not been great with money. I want to turn over a new leaf. I want to show a commitment to myself and others, but how do you actually do that?
- PETE: I think it’s beyond the budget. I think it starts at saving 10% of any income, no excuses. This is the best place to start.
- DAMIAN: There’s a tangible result, but that 10% number could feel like a lot of money to some. Maybe try $1 on day one, $2 on day 2, and so on…
- PETE: A friend of mine became a barber years ago. His dad told him to set aside $10 cash every day. He did. He had saved $10 per day, and $30 on Fridays to account for weekends….he did this for fifteen years. At the time I spoke with him, he had something like $55,000.
- PETE: Step two is to critically look at your expenses and ask, “Does this actually matter to me and what I care about today?”
- PETE: Step three is to create a realistic household budget. There are countless ways, but try something.
Keep it locked for even more! Check it out in the full show! — click PLAY below.
SIDE NOTE:
— Before you go, give your personal finances a facelift. Peep our personal guidance platform: Hey Money. —
The post Ep. 426: Parent PLUS Loans Are the Bane of Our Existence?! appeared first on Pete the Planner®.
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