Ep 72 Money terms you need to know

This week we are diving into the importance of money management for financial independence. You will learn various personal finance vocabulary terms to include topics such as budgeting, interest rates, credit scores, assets, liabilities, and asset allocation. 

Jerry also shares insights on building credit responsibly and provides tips on setting up and investing in retirement savings plans like 401k and IRA. 

So if you are looking to live a purposeful life and achieve financial independence, you won’t want to miss this week’s episode! 

00:29 Importance of Money Management for Financial Independence

01:22 Understanding Personal Finance Vocabulary

02:52 Definition of Interest Rate

03:19 Avoiding Paying Interest

04:13 Understanding Interest as a Creditor

05:09 Definition of Credit Score

06:07 Differentiating Personal and Business Credit

09:09 Importance of Credit Score

10:16 Building Credit Responsibly

11:59 Definition of Asset

12:56 Definition of Liability

13:54 Understanding Balance Sheet

16:13 Definition of 401k

18:40 Investment Options in a 401k

20:03 Investment Options in a TSP

21:08 Definition of IRA

22:18 Understanding Stocks

23:18 Definition of Mutual Fund

23:53 Definition of Asset Allocation

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ABOUT THE Alignment Way Podcast: 

Jerry St. Pierre overcame significant life adversity. Now, his life's work empowers others to also thrive through head, heart, hands, alignment. Today, Jerry thrives and he shares his story to inspire many, and he is reaching back to help others! Jerr is the host of “The Alignment Way Podcast,” where he has conversations that inspire you to financial independence and to do work that you love, so you too can live a purpose filled life!

DISCLAIMER: 

The Alignment Way podcast and related websites are the personal views of Jerry St Pierre. The Content in this show are not those of the United States Air Force, Department of Defense, or U.S. government. Content expressed are provided for general information purposes only and do not constitute legal, tax, accounting or other professional advice. Visitors should not act upon any information or content found here without first seeking appropriate advice from an accountant, financial planner, lawyer or other professional.