616-If Missing One Paycheck is a Problem For You, You're Behaving Stupidly
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 9 January 2019
⏱️ 44 minutes
🧾️ Download transcript
Summary
Stop behaving stupidly with your money.
- NPR story: https://www.npr.org/2019/01/09/683519210/air-travelers-and-workers-may-feel-government-shutdown-effects
- SNL: Don't buy stuff you can't afford: https://youtu.be/Qb8hTzUoI54
Transcript
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| 0:00.0 | Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge, skills, insight, and encouragement you need to live a rich and meaningful life now, while building a plan for financial freedom in 10 years or less. |
| 0:11.0 | My name is Joshua, I am your host and today we talk about making sure |
| 0:15.5 | that you are not behaving stupidly with your money so that you will never be in a |
| 0:22.3 | position of a slave who lives in fear of losing a single paycheck. |
| 0:29.0 | We begin with a short excerpt from this morning's program of Morning Edition on National Public Radio. |
| 0:36.4 | Air travelers are used to flight delays and cancellations because of the weather, |
| 0:40.8 | or maybe mechanical problems. Well, it soon might be the partial government |
| 0:44.5 | shutdown that is disrupting travel. |
| 0:46.6 | New planes are not being certified to fly. |
| 0:50.0 | Security screeners and air traffic controllers are working unpaid. Here's more from |
| 0:53.8 | MPR's David Schaefer in Chicago. I'm here at Chicago's O'Hare Airport |
| 0:57.9 | standing next to one of the large CT 80 scanners. It's essentially a CT scanner for your checked luggage. And the TSA officers who operate |
| 1:07.0 | this machine, they're here at work lifting the heavy and sometimes odd-shaped and over-stuffed bags onto the conveyor belt to go through the machine. |
| 1:16.0 | Even though come this Friday, if the shutdown continues, they won't get paid. |
| 1:21.0 | And that presents a severe financial hardship for many of these officers. |
| 1:25.0 | I've been here 16 years plus I am a single mom. |
| 1:29.0 | Christine Vitell is a security screener at O'Hare with a son in college. |
| 1:32.6 | She's trying to figure out how she'll pay his tuition and... |
| 1:35.6 | I just bought a house. |
| 1:37.6 | I'm not going to be able to pay my mortgage. |
| 1:39.6 | A lot of the offices, they live paycheck to paycheck. Janice Casey is president of the union local representing TSA employees in Chicago and she |
| 1:47.6 | notes that they are among the lowest paid federal employee. Some average 36 to 4343,000 a year, but start only in the mid-20s. |
... |
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