Wisdom with Money

Theology Gals | Episode 110

This week Coleen and Angela address being wise with our money. Below you'll find an outline of the topics discussed.


Budgeting software options
Work on your budget together as a couple
Budget for everything

Getting out of debt

Pay off highest interest debts first
Pay more than the minimum
If you aren't carrying a balance on your credit card DON'T START!


Emergency Funds
Saving for bigger purchases

Home improvements

Saving for retirement (which will tie in with investing)


Types of investments

Debt (bonds)
Real Estate
Equity (stocks)
Derivative investments (options, hedges, other very complex instruments)

Why Invest

Lifetime avg return on the market


Start early
Max it out, get every match dollar
Diversify (talk about risk)

Individual stocks >40
Mutual funds
Diversify across asset type as well

Shift strategy with age

Not so great financial decisions

Credit cards
Buying too much house
Viewing a car as an investment
Not saving for retirement
Whole life insurance


Teaching children to be wise.

Young children

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