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Motley Fool Answers

5 Ways to Fix Your Finances Without Cutting Back

Motley Fool Answers

The Motley Fool

Taxes, Saving, Money, Investing, Planning, Retirement, Personalfinance, Finance, Education, Business

4.4823 Ratings

🗓️ 29 August 2017

⏱️ 23 minutes

🧾️ Download transcript

Summary

Nathan Hamilton is back with ways you can fix your finances that don't involve cutting back on your spending. We'll also answer your question about what to do with leftover 529 money and visit the town of secret Coca-cola millionaires.

Transcript

Click on a timestamp to play from that location

0:00.0

This is Motley Full Answers. I'm Alison Southwick, and I'm joined as always by Robert Brokamp,

0:07.2

personal finance expert here at the Motley Fool. Hello, Bro.

0:10.0

Hello, Alison.

0:11.0

In this week's episode, we're going to count down five ways that you can fix up your finances

0:14.5

without denying yourself the little things you love. We're also going to answer your question

0:19.0

about what are you going to do with all that extra

0:21.3

529 money and explore the town of secret Coca-Cola millionaires.

0:25.8

All that and more on this week's episode of Motleyful Answers.

0:29.7

It's time for Answers!

0:30.7

Answers!

0:31.9

And Ernie sent us a card from British Columbia and he writes,

0:37.2

Hopefully you'll answer my question since I sent it to you on a postcard.

0:40.0

The answer is yes.

0:41.2

Due to a generous scholarship from the Navy,

0:43.2

my son will have a lot of money left in his 529 plan after graduation.

0:47.0

Then he will serve in the Navy for at least five years.

0:49.1

What can he do with the leftover money in the 529 plan?

0:52.6

Thanks, Ernie.

0:54.1

Should we get the gratuitous, give the money

0:56.0

to us jokes out of the way. Yes. Do that, Ernie. All right. Thanks. Bye. No, I'm just kidding.

1:02.0

So, just so we're all clear, 529 is a savings account for college. You put the money in. You

1:08.2

don't get a tax break, but it grows tax-free as long as the money

...

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