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

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January 25, 2021
by Chelsea

Why You've Got to Listen to This Episode...

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!

Moments You Don't Want to Miss

[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’s so many options online!! I have a small policy from work but I know it will never be enough."

Links & Resources Mentioned

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