CLEVELAND — On Saturday's brand new episode of the 3 Things to Know podcast, a certified financial planner breaks down what people need to know to make sure they're in a financially health place.
In a conversation about everything from cash flow to credit cards and investing in stocks and bonds, NCA Financial Planners' Elizabeth Scheiderer, CFP, makes figuring out where to start when it comes to money talk easy to understand.
"The first place to start is your cash flow," Scheiderer says, when discussing the most basic jumping off point for grappling with your financial situation. "The biggest question you need to ask yourself is are you spending less than you make."
Scheiderer explains the answer to this question really sets the stage for whether you'll find red flags when it comes to your financial health.
Plus, 3News investigative reporter Rachel Polansky joins me to share how to get to Ansel's Cave, the little-known hiking trail in Geauga County that you Need to Know in Neo, and sticks around to explain why yoga instructor Marni Task is such A Good Follow on both Instagram and Facebook.
In keeping with this week's theme on being financially responsible, Scheiderer talks with me about how to make your money work for you, even if you only have a little bit to work with, and what she thinks about the popular new investment app, Robinhood.
"Big picture, what I like about the Robinhood app is it kind of opens people’s eyes to investing," she says.
Scheiderer likes that it gets people learning about the stock market, even if the focus is more on day trading than long-term investing, the latter of which she favors as a certified financial planner. She also notes, however, that Robinhood recently was in the news for a settlement paid to the Securities Exchange Commission, based on what the company called past practices, so Scheiderer cautions everyone to do their research before signing on with any financial services.
Scheiderer also touches on how life plans can change, with them, so can your your financial needs.
For the full conversation, just search for '3 Things to know with Stephanie Haney' wherever you get your podcasts, or follow your preferred link below:
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Check out more episodes, including tips for how to avoid burnout in your everyday life, at the links below.