Smart Money Mamas Show

January Mailbag: Credit Scores, Bitcoin Investing, & Term Life Insurance

January 25, 2021

#90 For this episode, we asked the mamas in our free Mamas Talk Money Community on Facebook to send us their questions.

If one person in our community has a question, there are no doubt others wondering the same thing. Today we’re going to discuss increasing credit scores, Bitcoin investing, finding the best provider for term life insurance, and more! 

(05:05) Christine asks, "I recently opened 529 plans for my children, and while I was there, the representative told me that I should keep depositing into my 403b and before I retire transfer the money into a ROTH IRA, does this make sense?"​ 

(10:56) Christine had a second question, "My children now have debit cards. What rules should I set up as far as making purchases? 

(16:59) Court wants to know, "What is your advice regarding credit cards? I was a die hard Dave Ramsey fan and when I began my debt free journey in January 2015, I did need to get rid of all credit cards because my spending was out of control. Now, my husband and I are about to buy the house we’re renting and payoff our van loan. 

(28:14) Nancy says, "What is your take on Bitcoin investing?"  

(41:35) Amanda asks, "Hubs and I are saving up to do some home renovations in 5 years. I am toying with the idea of putting it into our brokerage account so that it can get better growth than in a plain savings account. I want to continuously add money so a CD is out. Other than the possibility of losses from potential market dips, what kind of tax implications could I see from my brokerage path?" 

(48:19) Tiffany says, "Where do I start for figuring out term life insurance for my husband and I? There are so many options online!! I have a small policy from work, but I know it will never be enough." 

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