How to Money Ask HTM - Unnecessary Credit Cards, Creatively Funding Grad School, & Dropping Car Insurance To Save #982
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May 12, 2025 Listener questions kick off a lively discussion about the necessity of credit cards in daily life. Creative funding strategies for graduate school are explored, especially for mid-life career shifters. The hosts weigh the pros and cons of switching to Roth contributions with retirement on the horizon. Car insurance debates unfold, focusing on potential savings from dropping full coverage. They also touch on thoughtful ways to manage cash gifts for kids, blending finance with lighthearted anecdotes.
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Using Credit Cards Wisely
- You don't need a credit card to live, but using one wisely has benefits like rewards and fraud protection.
- Start with one simple cash-back card and pay the balance in full each month to avoid interest.
Creative Grad School Funding Tips
- To fund grad school without loans, ask your employer about tuition reimbursement and explore scholarships and financial aid.
- Consider stretching out your degree timeline to cash flow tuition and compare costs at various schools.
Roth vs Traditional Strategy
- Choosing Roth vs. traditional retirement contributions depends on income, expected expenses, and retirement lifestyle.
- Market downturns can be an ideal time for Roth conversions to minimize future tax liabilities.