E46 – Jordan Goodman from Money Answers

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Today we are excited to welcome back a past guest who is a wizard when talking about student loans and now credit.

Jordan Goodman is also known as America鈥檚 Money Answers Man-
Welcome back!

[2:14]聽Should people have more than 1 credit card?
路聽聽聽聽聽 Yes- you want to build credit
路聽聽聽聽聽 3-4 cards is the ideal amount
路聽聽聽聽聽 Cards that have benefits for your life
路聽聽聽聽聽 Guidetocreditcard.com

[3:10]聽A listener wrote in: My boyfriend thinks that you should have a revolving balance on your credit card. Can you explain to him why this is a bad idea?
路聽聽聽聽聽 Because you鈥檙e paying interest
路聽聽聽聽聽 Does not help your credit score
路聽聽聽聽聽 Debt management plan cambridgecredit.org

[7:11]聽Fraud is a scary thought to almost all Americans. Is there a way to get errors off your credit report?
路聽聽聽聽聽 Yes- there鈥檚 a whole procedure
路聽聽聽聽聽 Fair and Accurate Credit Transactions Act
路聽聽聽聽聽 Tourdecredit.com- helps improve credit reports

[8:58]聽Listener scenario: A 21-year-old girl gets in a car accident and is seriously injured. She has no health insurance and is now half a million dollars in debt. What should she do?
路聽聽聽聽聽 Go to Healthcareadvocates.com

[11:46]聽How do I know if a debt resolution company is legit or a scam?
路聽聽聽聽聽 Legit ones cooperate with the creditors
路聽聽聽聽聽 Scams are called debt settlement companies

[13:1]聽If a loved one dies, parent or spouse, are you automatically left their debt or is there a way around that?
路聽聽聽聽聽 Typically, debt is against the estate not the benefactors

Sponsor

[15:39]Chain of Wealth鈥 If you want to refinance your student loans head over to chainofwealth.com/credible for $200 off your first payment.

Refinancing your student loans can save you thousands!

If you鈥檙e enjoying this podcast, don鈥檛 forget to subscribe, rate and review!

Value Link Round

[16:9]聽What is your favorite quote?
路聽聽聽聽聽 鈥淓very day, think as you wake up. Today I am fortunate to be alive, I have a precious human life, I am not going to waste it.鈥

[16:36]聽Best advice someone gave you?
路聽聽聽聽聽 Set up habits

[17:5]聽Last advice?
路聽聽聽聽聽 Savers dilemma: Secured real estate fund

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About the Podcast
Chain of Wealth

Chain of Wealth

The Chain of Wealth podcast is a biweekly podcast boasting over 500,000 downloads. We interview inspirational guests about money topics. You can learn more about us here.

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