328: “What should I do with my stimulus check?” – Money Expert Raeshal Solomon joins me today!

FYI: I am starting a WTOO book club, a chapter-by-chapter read of my parenting books! If you want to learn to get good behavior from your kiddos, and share some stories, and spend some time each week with me, you can do that starting in May : )
Click here to buy Positive Discipline Ninja Tactics, the book we’ll start with, so you can get reading!

I am so excited to bring you this conversation, with returning champion, mom, and money expert Raeshal Solomon of mylittlebanker.com!
Raeshal knows so much about money and getting out of debt – firsthand; in our first WTOO conversation, in episode 215, she shares how she successfully got herself out of debt.

In our conversation (recorded for OkayCon 2020, the Free Virtual Summit taking place during April 2020; go to OkayCon.com to check out all the presentations!) Raeshal shares:
– 6 steps you can take to get your finances under control, during and after the pandemic
– How (and why) to “take the emotion out of money”
– What you actually should do with your stimulus check

This is a wonderful and extremely helpful conversation.
Join us!
(Go to weturnedoutokay.com/328 for links and Raeshal’s 6 steps outlined : )

I believe that challenging times call for dramatic measures. So I’m upping the WTOO game!

Free Parenting Advice – Click the following link to sign up for my Free Newsletter, where each week you’ll get tons of advice and ideas for parenting through the Covid-19 crisis:

Parenting Support Every Step of the Way – We’re facing one of the most challenging times of our lives. Like me you are probably feeling all kinds of fear, anxiety, and worry right now.

Besides which, you are also likely sheltering in place with kids – whose behavior is leaving a lot to be desired at the moment!

That’s why I’ve got special help for you during (and beyond) the Pandemic.

For a limited time, I am offering NPC membership at a special rate: $1 for your first month, and then the Friends & Family Monthly Rate, 25% off standard membership : )

So you can get the help and support you need during this crisis, click the link below:
Here are Raeshal Solomon’s 6 steps for taking control of your money:

1. Take the emotion out of it.
Raeshal says: “Money is an emotional topic… Bounce out of the emotional part of it and get to the logic as quick as you can.”

2. Do personal research.
What do you owe, what are your debts? Will anyone give you a break for a month, or three months?

3. Cancel some stuff.
What can you live without right now, how can you scale back your spending?

4. Make adjustments to your budget.
Here is where the stimulus check can come in! How can you move money around, so that your spending some here, less there, saving a little here and expending a little there?

5. Cancel your autodrafts and control bill paying yourself.
Do this so you don’t get an overdraft in your bank. You can also ask your bank about overdraft protection, and Raeshal dives into the pros and cons of this step.

6. Help others if you can.
If you find that you’ve come out at the end of the month with a little extra, we talk about the best ways to have a significant impact, even with just a bit of money.

Key Links:

Find Raeshal Solomon’s podcast PodKashKids, her My Little Banker book series (finance for kiddos : ) and so much more at her website, mylittlebanker.com

Here is episode 8 of the PodKashKids podcast on money lessons that kids can learn during the coronavirus.

Raeshal is finding news and support by watching The Daily Show with Trevor Noah.

I am finding by watching my town’s Emergency Meetings, each weekday, which they post in YouTube. So thankful for our local government and first responders here in Bellingham, Massachusetts <3

Speaking of Trevor Noah, he wrote a great book! It’s called Born a Crime, and you should read it. Especially right now.