You're listening to Talk Wealth To Me, the safe-space money podcast where we discuss anything and everything related to personal finance. In our inaugural episode, we're chatting about Financial Literacy Month and budgeting!

April may be Financial Literacy Month, but for our team at the San Diego Financial Literacy Center, financial literacy month is every month.

Did you know some 93 percent of the public believes everyone should create a budget, but a majority of us are not creating budgets? Yep, about 63 percent of us are not creating a budget. The number one reason why? Well, you'll just have to listen to the show to learn the answer to that burning question.

I'm On A Budget

In our second episode, we sit down and chat with DebtWave Credit Counseling, Inc.'s credit score coach Adriana Sanchez Torres about what exactly a credit score is, the five components that make up your credit score, how to order a credit report, some common myths about credit and more!

Understanding Credit Scores

We're joined on the show by Sarah Arevalo, DebtWave Credit Counseling's Quality Assurance and Compliance Administrator, who's also married to our beloved co-host Felipe, to chat about the cost of having a baby!

Americans often severely underestimate just how much it costs to raise a baby in the first year. According to a Business Insider article from July 2018: The average cost to have a baby in the US, without complications during delivery, is $10,808— which can increase to $30,000 when factoring in the care provided before and after pregnancy.

36% think it costs between $1,001 and $5,000 to raise the average U.S. baby during its first year
18% think it costs $1,000 or less
Half of all hopeful parents — and 48% of all Americans — think diapering items, including diapers and wipes, are one of the biggest expenses of the first year of a baby’s life. However, we estimate this expense at $743 for the first year — less than nearly all other cost categories in the analysis. 

By contrast, only 37% correctly believe child care is one of the biggest expenses. Full-time care in a center costs an average of $8,059 for the first year of life — more than any other expense analyzed.

How much will it cost for you to have a child? Check out Nerd Wallet's baby calculator.

For parents concerned about baby recalls, you can find info on the US Consumer Product Safety Commission's Twitter account or their website.

Questions, comments, suggestions? Contact the show at talkwealthpodcast@gmail.com or connect with us on Facebook, Twitter, and LinkedIn under the San Diego Financial Literacy Center and DebtWave Credit Counseling, Inc's monikers!

And Baby Makes Three

Marriage and Family Therapist Ed Coambs, MA, MBA, LMFTA, CSAT-C, CFP, who also specializes in financial therapy, joins us to discuss financial infidelity: What is it? How does it affect a marriage? And what can you do if financial infidelity happens to you?

When we keep financial secrets from our spouse or significant other, we are guilty of financial infidelity. But according to a new study, only 52 percent of individuals believe their significant other is totally honest with them when it comes to money.

Given that 50 percent of marriages end in divorce, and financial issues are the leading cause for separations in the nation, we asked Ed to share some insight with us on what happens when financial infidelity occurs: Are our relationships completely doomed when our spouse makes a purchase without our consent? What if they're earning more than they lead us to believe? We chat about all of this and more - along with how our childhood and emotional money baggage plays a role in our spending and saving habits!

Comments, questions or suggestions for the show? Email us at talkwealthpodcast@gmail.com.

Want to learn more about Ed Coambs? Visit his practice website or check out this blog on financial infidelity from DebtWave Credit Counseling. 

To learn more about DebtWave Credit Counseling, visit our website or connect with us on Facebook, Twitter, Instagram, and LinkedIn.

To learn more about the San Diego Financial Literacy Center, visit our website or connect with us on Facebook and Twitter.

Financial Infidelity

DebtWave Credit Counseling and The San Diego Financial Literacy Center Present Talk Wealth To Me: The safe-space podcast where we chat about anything and everything related to personal finance.