Did your family automatically save when you were growing up? Joe’s family didn’t. How were you raised? If your family didn’t talk about money, don’t worry, because we’ll give you TONS of great ideas to start your family on the savings path. Today we’ll talk about the envelope system and others that have worked for our panelists…. speaking of….today we have a GREAT group of contributors, including Sandy Waters, from the Seven Figures podcast, and Deacon Hayes, from The Well Kept Wallet blog and podcast.

We’ll also answer a wrong number that luckily ended up on mom’s voicemail from Tyler, and also take a letter from Chris….great times on this show!

Also, in our special guest spot, we’ll talk about Hoot! This is a banking app and awesome debit card all mixed into one. We’re excited to be ahead of the game on their launch. Want to save some money on the launch? Here’s the link.

Subscribe below:

Show Notes:

<> Open

Compare checking, savings, credit cards, and loans before switching. Magnify Money makes it super easy to compare, switch and save.

Check out Magnify Money

LinkedIn 

Thanks to LinkedIn for supporting Stacking Benjamins.  Go to LinkedIn.com/SB and get a $50 credit toward your first job post.

Check out Linked In Job Postings

 <> Headlines

• American Richard Thaler Wins Nobel In Economics (NPR)

<>Today’s Contributors

Sandy Waters

Follow Sandy on Twitter: @sandywaters98

Check our Sandy’s podcast: RochesterBuzz.com

Deacon Hayes

Connect with Deacon: @deaconhayes

Check out Deacon’s site: WellKeptWallet.com

Want more from Deacon? Order his book!

Len Penzo

Drop a line on Twitter: @LenPenzo

Check out Len’s blog: LenPenzo.com

<15:56> Hoot

To learn about about Hoot and their smart card, visit them at: HootBank.com

Have some questions? Tweet them at: @hootbank

<26:05>Doug’s Trivia

• Around $2 billion is lost from estates every year in the USA because the families didn’t have an estate plan. What percentage of this goes to attorneys?

<31:58> Mom’s voicemail

Prepare your kids for a world of money based on plastic. Track their spending, help them learn about interest and appreciation, even shut off their card if necessary. Learn about pre-paid debit cards and financial tools to prepare kids for the financial jungle.

Check Out FamZoo.com

• Tyler has about $35,000 left on his student loans. Should he use a HELOC (a home equity line of credit) to pay off the rest of his amount?

<37:41> Letters From the Mailbag

• Chris is looking for some recommendations on estate planning attorneys. Any recommendations on our part?

<> Join Us Monday

William Studebaker, President of ROBO Global, will be coming around for a visit. You come on by to listen, and we’ll make sure there are freshly baked cookies waiting on you.

SaveSave