In times of high interest rate environments, most people will not refinance due to the cost. With that being said, circumstances arise to warrant this, such as divorce, marriage or a job relocation. For the most part, people wait for the federal reserve to cut rates so that borrowing money is more palatable. For example, at the time of this recording, the average interest rate for a 30-year mortgage is 7%. So when the rates begin to drop later this year, people will rush in to refinance. For example, a 7% interest rate for a $300,000 mortgage generates a monthly payment of $1,995. If we go to ..read more

After the December holidays we often hear people talk in social groups and in the media that the credit card bills are coming due as a result of shopping during the December holidays. Obviously, this means only one thing: that if you have payments coming, debt was compiled that can’t be paid off in one billing cycle. Moreover, the simple fact is that when this occurs, it means that people are buying things that they cannot afford. We have talked about this many times . . . this is not a good practice. Secondly, it is probable that this debt is piled onto existing debt. To put this in perspe ..read more

Okay, you’ve got to be escheating me. What on earth does that mean? The definition derives from medieval times, in feudal law. When a landowner (tenant of a fief) died without an heir or committed a felony, a process was needed for the ownership of the land. In modern times it is the right of a government to take ownership of estate assets or unclaimed property in the event there are no heirs or beneficiaries. In layman's terms, you may have a variety of financial assets that you can claim and this includes uncashed payroll checks, inactive stocks, court funds, dividends, checking and savin ..read more

This week’s personal finance tip is about Better Battery Co’s Recycling and Delivery Program. Can you imagine how many batteries are in landfills considering every household uses them? According to The California Department of Resources and Recycling, it is estimated that 4 billion disposable batteries are shipped to the US each year and that means the average US household uses an estimated 47 batteries per year. Now this is a daunting piece of information; however, there is good news. You can now purchase batteries online while also disposing of them responsibly. Better Battery Co. has de ..read more

This week we talk about how there are a record number of weddings in 2022 and the people attending them are going broke Website: https://www.somethingonmymind.net/ Social Media https://www.instagram.com/somm.podcast/ https://www.youtube.com/channel/UChec5qcZBcGkIhUU3belNDw https://www.tiktok.com/@somm.podcast?lang=en https://www.facebook.com/somm.podcast https://twitter.com/Somm_podcast ..read more

This week's episode is about the future of crypto regulation. In time a global structure will be put into place and the United States is seeking to be the leader.  With China banning crypto, this opens the door to be a superpower with digital coins. The U.S. is also looking into a digital coin to outright remove the paper money and metal coin exchange.  In the roundtable we talk about deal breakers with your partner.  Website   https://www.somethingonmymind.net/ Merchandise https://www.somethingonmymind.net/shop Social Media  https://www.instagram.com/somm.podcast ..read more

In the roundtable, we discuss how individual body parts are ugly.  Website   https://www.somethingonmymind.net/ Merchandise https://www.somethingonmymind.net/shop This week we discuss a woman's question about how to manage her money after he husband passes due to a terminal illness. She assets coming from his trust and some on her own; however, she has no plan in place.   In the roundtable we discuss how individual body parts are ugly.  Social Media  https://www.instagram.com/somm.podcast/ https://www.youtube.com/channel/UChec5qcZBcGkIhUU3belNDw https://www.t ..read more

This week’s topic discusses the world of cheese and how to get the most from this fermented product loved the world over.  According to Wikipedia cheese was cultivated approximately 7,000 years ago by accident, as a result of storing and transporting milk in bladders made of ruminants' stomachs, as their inherent supply of rennet (enzymes) would encourage curdling. So needless to say being cheesy isn’t easy as it is inherently tied to aging; however, the concoction creates delectable flavors and textures. When it comes to personal finance, pound-for-pound, cheese is one of the most expens ..read more

Okay, you’ve got to be escheating me. What on earth does that mean? The definition derives from medieval times, in feudal law. When a landowner (tenant of a fief) died without an heir or committed a felony, a process was needed for the ownership of the land. In modern times it is the right of a government to take ownership of estate assets or unclaimed property in the event there are no heirs or beneficiaries. In layman's terms, you may have a variety of financial assets that you can claim and this includes uncashed payroll checks, inactive stocks, court funds, dividends, checking and savin ..read more

The United States culture tends to recognize many types of celebrations and this has created a common theme of replacing presents with gift cards. They are easy to purchase, simple to use and the beauty is that people can shop for what they want without having to wrap and return items. Throughout the years gift cards can accumulate in wallets or desk drawers and many people are waiting to redeem them for a special occasion. According to USA Today, 47% of Americans have one unused gift card, voucher or store credit, and on average each person has $175 in unspent gift cards. So the most common ..read more