Scary Money Decisions to Avoid (Halloween Edition)

Everyone's Talkin' Money

Shari Rash

Business, Self-improvement, Education

4.6 • 631 Ratings

🗓️ 31 October 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Ready to face your financial fears? In today’s Halloween-themed episode, I take you on a haunted tour through the spine-chilling world of scary money decisions you do not want to make. From scary impulse buys to zombie retirement plans, these terrifying mistakes are lurking around every financial corner—and we’re here to keep your wallet safe from the things that go bump in the bank! Here’s what you’ll learn: The Curse of Minimum Payments: Why that “minimum due” might just be the most dangerous trick your credit card has up its sleeve. Impulse Spending Demon: Don’t let the urge to splurge turn your budget into a haunted wasteland! Oversized House of Horrors: Thinking about that dream house? It might just be a mortgage monster in disguise. Zombie Retirement Plans: Retirement is coming… and it’s hungry for your cash if you don’t start preparing now! Lifestyle Creep Phantom: Don’t let your income raise summon this spending specter. Haunted Loans: Avoid the payday loan quicksand that can drag your finances into the abyss. Overdraft Fee Monster: Keep this fee-hungry fiend out of your checking account with a few smart moves. This episode is packed with laughs, chills, and practical tips to avoid these common money mistakes that can haunt you long after Halloween is over. CONNECT WITH SHANNAH FREEBIE: Show Me the Money Workshop FREEBIE: She’s Got Wealth Workshop Looking for Money Coaching? Book a complimentary 20-minute call with Shannah to learn more https://savvycal.com/everyonestalkinmoney/comp Healthy Wealth Program for Women https://etmpod.link/healthywealth Follow me on Instagram SPONSORS Thanks to Money Picked for sponsoring the show. To schedule a FREE meeting to figure out your next financial steps, go to http://www.moneypickle.com/etm. Thanks to Wildgrain for sponsoring the show. Wildgrain is offering our listeners $30 off the first box - PLUS free Croissants in every box - when you go to http://www.wildgrain.com/etm to start your subscription. Thanks to Mint Mobile for sponsoring the show. To get your new 3-month premium wireless plan for just 15 bucks a month, go to http://www.mintmobile.com/ETM . Thanks to OneSkin for sponsoring the show. Get 15% off OneSkin with the code ETM at https://www.oneskin.co/ Thanks to Quince for sponsoring the show. Go to http://www.quince.com/etm for free shipping on your order and 365-day returns. Thanks to NerdWallet for sponsoring the show. Don’t wait to make smart financial decisions. Compare and find smarter credit cards, savings accounts, and more today at www.nerdwallet.com. Thanks to Monarch for sponsoring the show. After trying out Monarch for myself, I understand why it’s the top-rated personal finance app. Listeners of this show will get an extended thirty-day free trial when you go to www.monarchmoney.com/ETM. Thanks to ButcherBox for sponsoring the show. Sign up today at www.butcherbox.com/etm and use code ETM to get $20 off your first order. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey, it's Shawna and welcome to everyone's talking money.
0:11.7	Welcome to a special spine-chilling episode of everyone's talking money.
0:17.1	Today we're diving into the haunted graveyard of scary money decisions to avoid. But beware,
0:23.8	what you hear, yeah, it might make your wallet scream and tear. That's right, my friend.
0:29.5	In this episode, we're talking about those horrifying mistakes that creep up when you are least
0:34.7	expecting them. And if you're not careful, they'll drag down your bank account
0:39.2	to the underworld faster than you can say credit card debt. So grab your garlic, your silver
0:45.9	bullets, or whatever it is you need to fend off financial frights. Because we're about to dive
0:51.4	into seven terrifying money decisions you should never, ever make
0:55.9	unless you enjoy living in the financial house of horrors.
1:00.4	All right, let's get spooky.
1:08.9	Picture this.
1:10.6	You've got a credit card balance, just a couple of 100 bucks, and you think,
1:15.4	you know what, I'll just pay the minimums. Big mistake. Here's the spooky reality. When you only
1:22.6	make the minimum payments, your balance can balloon and grow so big that it is its own financial terror.
1:32.9	Let me tell you about a friend. She started with a $500 balance and paid the minimum, thinking,
1:38.2	you know what, no big deal. It's fine. I'll pay it off over time. But fast forward three years,
1:43.5	and thanks to the interest that just
1:45.7	grew and grew, her debt had more than doubled. The debt became a monstrous over $1,500
1:53.8	debt, and she still felt stuck. She didn't know how to actually get out of this place. And I think what happens is with debt.
2:03.7	It's we look at the amount of money we owe and we keep making these payments, minimum payments,
2:10.0	thinking that we're doing something good.
	...

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