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    Podcast Summary

    • Monetize your home with side hustles like Airbnb hosting or find an assumable mortgage for potential savingsExplore side hustles like Airbnb hosting to earn extra income from your home or search for assumable mortgages for potential housing savings. Both require effort and research but offer significant rewards.

      Monetizing what you already have, such as your home, through side hustles like Airbnb hosting, can be an easy and effective way to earn additional income. Airbnb makes it simple to get started, and your home might be worth more than you think. Meanwhile, in the current housing market, finding an assumable mortgage can be a valuable housing hack for buyers looking to take over an existing mortgage with an older, lower interest rate. However, these mortgages are rare and can be challenging to find. If you're new to side hustles or house hunting, don't be intimidated. Both Airbnb hosting and finding an assumable mortgage require effort and research, but the potential rewards can be significant. Remember, it's important to do your due diligence and understand the terms and requirements before diving in. Overall, being resourceful and creative with what you already have can lead to financial opportunities and savings.

    • Communicate with your agent, use a mortgage broker, explore state programs, and focus on improving your credit scoreEffective communication with your agent, utilizing a mortgage broker, investigating state programs, and enhancing your credit score are crucial for a successful first-time home buying experience

      When buying your first home, there are several key steps to ensure a smooth and successful process. First, communicate your desires to your real estate agent. Second, consider using a mortgage broker to help navigate the loan application process, which could save you money and time. Third, explore state programs for first-time homebuyers, which may offer reduced interest rates or low down payment requirements. Fourth, focus on improving your credit score, as it will significantly impact your mortgage rates and overall home buying experience. Remember, a mortgage is a debt, so it's essential to approach the process with a clear understanding of the financial commitment. Additionally, keeping your credit utilization low and ensuring a strong credit score will put you in a better position to secure a favorable mortgage rate and ultimately, the home of your dreams.

    • Consider Investing for a Down Payment Instead of SavingInvesting your down payment money could help you reach your goal faster while creating wealth, but remember the risk and consider a hybrid approach.

      Instead of saving a large down payment for a home, consider investing the money instead. This strategy, based on historical performance of the stock market, could help you reach your down payment goal faster while creating wealth. However, it's important to remember that investing comes with risk, and a hybrid approach of growing your nest egg in a high yield savings account and a smart investment portfolio can help manage risk and increase your chances of success. Remember, there's no shame in renting while you build your wealth and turn your home into an asset, rather than a liability. For those looking to start investing for a down payment, consider using a money app like Magnify, an AI investing assistant, to help create a portfolio tailored to your goals.

    • Consider renting and investing instead of buying a home with high interest ratesHigh interest rates could make renting and investing a more financially beneficial option than buying a home, but individual circumstances should be considered before making a decision.

      With current high interest rates, it might be more financially beneficial to rent a property and invest the extra money in the market instead of spending it on a mortgage. This strategy could potentially yield a higher return than paying off a mortgage. However, this advice may not apply to everyone, and individual circumstances should be taken into consideration before making any major financial decisions. If you have money-related questions or need personalized advice, consider reaching out to Money News Network for potential assistance. Remember, investing in yourself is the most important investment you can make.

    Recent Episodes from Money Rehab with Nicole Lapin

    The Money Trail of the 2024 Olympic Games

    The Money Trail of the 2024 Olympic Games
    We assume that the Olympic Games bring a sweet economic benefit to the host country. The truth is that the lucrative financial picture is questionable at best. Nicole follows the money trail of the Olympics and unpacks some of the biggest expenses and why some countries go bankrupt over the games. Plus, she shares a financial solution that may change the Olympics forever. All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Brokerage services for alternative assets are offered by Dalmore Group, LLC, member FINRA & SIPC. Brokerage services for treasury accounts offering 6-month T-Bills are offered by Jiko Securities, Inc., member FINRA & SIPC. Banking services are offered by Jiko Bank, a division of Mid-Central National Bank. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value.  Brokerage services for Regulation A securities are offered through Dalmore Group, LLC, member FINRA & SIPC. Risks at public.com/disclosures/alts-risk-and-conflict-of-interest-disclosure See public.com/#disclosures-main for more information.

    "I Quit Gambling... Now What?" (Listener Intervention)

    "I Quit Gambling... Now What?" (Listener Intervention)
    With the rise and legalization of sports betting platforms, gambling has never been easier— and compulsive gambling has never had a lower barrier to entry. Today, Nicole talks to a Money Rehabber who has had many highs and devastating lows over a decades-long career of gambling. Today, he shares how he’s building a healthier relationship with money, and they make a financial plan that helps him pave the way for a better financial future. If you or someone you know is struggling with compulsive gambling, you can call the National Gambling Helpline to be connected with local resources at: 1-800-GAMBLER. All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Brokerage services for alternative assets are offered by Dalmore Group, LLC, member FINRA & SIPC. Brokerage services for treasury accounts offering 6-month T-Bills are offered by Jiko Securities, Inc., member FINRA & SIPC. Banking services are offered by Jiko Bank, a division of Mid-Central National Bank. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value.  Brokerage services for Regulation A securities are offered through Dalmore Group, LLC, member FINRA & SIPC. Risks at public.com/disclosures/alts-risk-and-conflict-of-interest-disclosure See public.com/#disclosures-main for more information.

    DON’T Leave Money on the Table: How To Find The Right Credit Card (and Perks!) For You (Listener Intervention)

    DON’T Leave Money on the Table: How To Find The Right Credit Card (and Perks!) For You (Listener Intervention)
    If you were leaving money on the table… wouldn’t you want to know? Today, Nicole speaks to a Money Rehabber who feels like she could level-up her credit card game and find the right card for the cash back perks she’s looking for. Join today’s Money Rehabber and find the right card for your financial life at: creditkarma.com/moneyrehab. Credit Karma is a sponsor of this podcast episode. Credit Karma’s Approval Odds is not a guarantee. Credit Karma looks at how your credit profile compares to other Credit Karma members who were approved for the specific card shown or whether you meet certain criteria determined by the lender.

    Why Nicole Rents— and Doesn't Own— Her Home

    Why Nicole Rents— and Doesn't Own— Her Home
    For decades, the American Dream has been defined by homeownership. But for Nicole, she's been able to make her money work harder for her by renting, and not owning, her home. Today, she follows the money trail of renting versus buying, and challenges the cliche that homeownership is the best path to financial freedom. All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Brokerage services for alternative assets are offered by Dalmore Group, LLC, member FINRA & SIPC. Brokerage services for treasury accounts offering 6-month T-Bills are offered by Jiko Securities, Inc., member FINRA & SIPC. Banking services are offered by Jiko Bank, a division of Mid-Central National Bank. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value.  Brokerage services for Regulation A securities are offered through Dalmore Group, LLC, member FINRA & SIPC. Risks at public.com/disclosures/alts-risk-and-conflict-of-interest-disclosure See public.com/#disclosures-main for more information.

    Invest Like the Best: Three Pro Tips from Famed Investors Ray Dalio, Warren Buffett, and Michael Burry

    Invest Like the Best: Three Pro Tips from Famed Investors Ray Dalio, Warren Buffett, and Michael Burry
    Want to invest like the best? Today, Nicole shares tips from three of the greatest investors of our time: Ray Dalio, Warren Buffett, and Michael Burry. All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Brokerage services for alternative assets are offered by Dalmore Group, LLC, member FINRA & SIPC. Brokerage services for treasury accounts offering 6-month T-Bills are offered by Jiko Securities, Inc., member FINRA & SIPC. Banking services are offered by Jiko Bank, a division of Mid-Central National Bank. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value.  Brokerage services for Regulation A securities are offered through Dalmore Group, LLC, member FINRA & SIPC. Risks at public.com/disclosures/alts-risk-and-conflict-of-interest-disclosure See public.com/#disclosures-main for more information.

    The 4 Steps to Financial Independence

    The 4 Steps to Financial Independence
    Nicole couldn't let Independence Day get too far behind us without talking about a very important kind of independence: financial independence. Today, she breaks down the four steps she took to become financially independent. You can — and should — try this at home! All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Brokerage services for alternative assets are offered by Dalmore Group, LLC, member FINRA & SIPC. Brokerage services for treasury accounts offering 6-month T-Bills are offered by Jiko Securities, Inc., member FINRA & SIPC. Banking services are offered by Jiko Bank, a division of Mid-Central National Bank. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value.  Brokerage services for Regulation A securities are offered through Dalmore Group, LLC, member FINRA & SIPC. Risks at public.com/disclosures/alts-risk-and-conflict-of-interest-disclosure See public.com/#disclosures-main for more information.

    Decoding "Blue Stocks" and "Red Stocks": the Industries That Trend with Politics

    Decoding "Blue Stocks" and "Red Stocks": the Industries That Trend with Politics
    Happy 4th of July, Money Rehabbers! If you're like Nicole, as you celebrate today, you might also be thinking about the elephant in the room: the election. Nicole unpacks how the value of the dollar reacted to the Biden-Trump debate last week, and which industries tend to rally when a Democrat is in the White House, and when a Republican is in the White House. All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Brokerage services for alternative assets are offered by Dalmore Group, LLC, member FINRA & SIPC. Brokerage services for treasury accounts offering 6-month T-Bills are offered by Jiko Securities, Inc., member FINRA & SIPC. Banking services are offered by Jiko Bank, a division of Mid-Central National Bank. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value.  Brokerage services for Regulation A securities are offered through Dalmore Group, LLC, member FINRA & SIPC. Risks at public.com/disclosures/alts-risk-and-conflict-of-interest-disclosure See public.com/#disclosures-main for more information.

    Step-by-Step Guide for Making Your First Investment

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    How To Pick the Personal Loan That's Right For You

    How To Pick the Personal Loan That's Right For You
    Personal loans can be a lifeline in times of need. However, not all personal loans are created equal. Today, Nicole unpacks six common types of personal loans, the benefits and risks, and helps you understand which one might be the best for you and your financial picture. Want to estimate how long it would take you to pay off your debt? Use this debt repayment calculator: https://www.creditkarma.com/calculators/credit-cards/debt-repayment All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank. Brokerage services for alternative assets are offered by Dalmore Group, LLC, member FINRA & SIPC. Brokerage services for treasury accounts offering 6-month T-Bills are offered by Jiko Securities, Inc., member FINRA & SIPC. Banking services are offered by Jiko Bank, a division of Mid-Central National Bank. Securities investments: Not FDIC Insured; No Bank Guarantee; May Lose Value.  Brokerage services for Regulation A securities are offered through Dalmore Group, LLC, member FINRA & SIPC. Risks at public.com/disclosures/alts-risk-and-conflict-of-interest-disclosure See public.com/#disclosures-main for more information.

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