Ask Ralph Reviewed (Finance Show)

Dave Jakson [00:00:03]:

Welcome to the podcast rodeo show. I'm your host Dave Jackson from the school of podcasting.com. This is where we grab a random podcast and see how long we can hang on. Then I take my 18 years of podcasting experience and give you an honest first impression. And today, we're going to listen to the Ask Ralph podcast. You can find that at ask Ralph podcast .com. And according to our good friends at Apple Podcasts, you better get comfy. This is the epitome of TL Doctor.

Dave Jakson [00:00:38]:

But welcome to the AF Ask Ralph podcast where financial expert Ralph Estep Junior shares his knowledge and insights on mastering your finances, lowering your taxes, growing your business, and finding the personal success. With over 30 years of experience in the field, Ralph simplifies complex financial concepts and provides practical tips for listeners. You could stop there. We know what the show's about, but wait, there's more. In each episode, Ralph covers a wide range of topics, including budgeting, taxing strategies, invest wait. Investment techniques, small business management, and more. Whether you're an individual looking to gain control over your personal finances or a business owner seeking guidance on financial decision baking and growth strategies. This podcast has something for everyone.

Dave Jakson [00:01:23]:

Well, that's a bad thing, really. You want a podcast that's just for people like you just said here. So alright. But wait. There's more. Ralph's friendly and approachable style makes it easy to understand even the most intricate financial concepts. He breaks down complicated ideas into bite sized pieces that anyone can grasp, the real life examples and insightful advice empowers listeners to take charge of the financial future the financial future with confidence. Does that really say anything that the first 2 paragraphs didn't? I'm smelling chat GPT here.

Dave Jakson [00:01:59]:

But wait, there's more. The Ask Ralph podcast is not just about theory. It's about practical application. Each episode provides actionable steps that listeners can implement right away to improve your financial situation from creating effective budgets to maximizing tax deductions again. Didn't we already talk about this? But wait, there's more. Join thousands of other listeners who have benefited. I know I definitely know this is, Chad GPT. But wait.

Dave Jakson [00:02:25]:

There's more. Remember that achieving personal success goes beyond just making money. It's about finding balance in all areas of life while building lasting prosperity. Did that really say anything? This this smells so much of chat GPT. Remember that achieving personal success goes beyond just making money. Yeah. But that's not we're not here talking about personal success. We're talking about financial.

Dave Jakson [00:02:48]:

Let The Askaroff podcast be your trusty companion. But wait. Yes. There is still more. Don't miss out on this opportunity To learn from one of the best in the industry, tune in today and start taking steps towards mastering your finances, lowering your taxes. We already said all this stuff, growing your business and finance finding personal success with the Askaroff pod. That that reeks so much of Chatt GPT, and nobody's gonna read that for the record. You could stop after the 1st paragraph.

Dave Jakson [00:03:15]:

Alright. And we're gonna listen to the episode that, for the record, full disclosure, Ralph is a member of the school of podcasting, and, Ralph didn't read my section about intros, apparently. But, anyway, also, for the record, your Episode description is not searched by Apple Podcast. They searched the title of the episode. So which in this case is They just searched your title, which is the Ask Ralph podcast, how to master your finances, lower your taxes, grow your business, and find personal success. That is a heck of a tagline. I don't think you're in any danger of spamming. I think you're okay with that.

Dave Jakson [00:03:57]:

It is a bit long, but that's okay. The only yeah. And then it has his name, and then Ralph also is LPA, ABA, ATP, and MD MBA. So congrats on all those lovely letters because I know it takes a while to get those to appear at the end of your name. Alright. We are set up. 1st things first. The following is an opinion and only an opinion.

Dave Jakson [00:04:23]:

These are actual, Honest first impressions. If you don't like the opinion, feel free to never listen again. And it goes like this.

Ralph V. Estep, Jr [00:04:31]:

In this episode of Ask Ralph, we dive into the importance of having an emergency savings plan in place.

Dave Jakson [00:04:37]:

Alright.

Ralph V. Estep, Jr [00:04:37]:

Life is full of unexpected events that can throw us off balance financially. By building a safety net through an emergency savings fund, you could protect yourself from these situations and gain peace of mind.

Dave Jakson [00:04:49]:

I think we know what an emergency fund is for.

Ralph V. Estep, Jr [00:04:51]:

We'll explore how to get started with setting savings goals and creating a budget that allows you to allocate funds towards your emergency savings. We'll also share some strategies for success that will help you stay on track and build up your fund over time. So if you're ready to take control of your financial future and be prepared for whatever life throws at you, then stay tuned for this informative episode on building an emergency savings plan.

Dave Jakson [00:05:18]:

I smelled chat GPT again. I don't know any human that uses the word informative.

Announcer [00:05:24]:

Welcome to the Ask Ralph podcast, where listening to an experienced financial professional can help you make sense of confusing questions, Content headlines and industry trends about taxes, small business, financial decision making, investment strategies, and even the art of proper budgeting As Ralph makes the complex simple by sharing his real world knowledge with all things financial. Now here's your host, Ralph Estep Junior.

Ralph V. Estep, Jr [00:05:49]:

Hello, everyone, and welcome back to another episode of ASG Ralph, the podcast where we answer all of your burning questions about personal finance and taxation.

Dave Jakson [00:05:57]:

She just said

Ralph V. Estep, Jr [00:05:58]:

I'm your host, Ralph Estep Junior. Today, we have an important topic to discuss, building an emergency savings plan. Joining us today as our sponsor of this episode is Saggio Accounting Plus providing comprehensive accounting services to individuals and businesses. Now building an emergency savings plan is a crucial step towards financial security and peace of mind.

Dave Jakson [00:06:18]:

For the record, That was really quick to sponsor, then back to where I got a little whiplash.

Ralph V. Estep, Jr [00:06:23]:

Life is full of unexpected events such as a job loss, medical emergencies, or car repairs. We've all had these. And having a safety net in place can help you navigate these situations without going into debt or experiencing a dire financial hardship. So let's dive right in and explore how to get started and define some strategies for success.

Dave Jakson [00:06:44]:

Let's do that.

Ralph V. Estep, Jr [00:06:45]:

1st and foremost, it's important Understand why an emergency savings plan is necessary. Many people live paycheck to paycheck. It's sad when you look at the statistics of that. Little to no savings to fall back on in times of crisis. This leaves them vulnerable and relying on credit cards or loans to cover unexpected expenses. By building an emergency savings fund, you create a financial cushion that can protect you from these situations and provides a sense of security. You might be asking, how do you get this started? With anything else, the first step is to set a savings goal. Determine how much you wanna save for emergencies.

Ralph V. Estep, Jr [00:07:25]:

Keeping in mind that financial experts recommend having at least 3 to 6 months worth of living expenses set aside.

Dave Jakson [00:07:32]:

And people always ask, how do you know if somebody's reading? Listen to how he says living expenses.

Ralph V. Estep, Jr [00:07:37]:

Having at least 3 to 6 months worth of living expenses set aside.

Dave Jakson [00:07:42]:

So he might have ran out of breath, but that was just like,

Ralph V. Estep, Jr [00:07:45]:

it might sound like a lot at the beginning, but it's something to work towards. That's why we call it a goal.

Dave Jakson [00:07:51]:

So let's go back to the promise of the beginning of the episode. You're gonna show us, like, hands on, step by step what to do.

Ralph V. Estep, Jr [00:07:58]:

This amount may vary depending on your personal circumstances and risk tolerance. Once you have a savings goal in mind, break Get down into manageable milestones to track your progress. You're not gonna do this all at one time. You might make a goal for this month or this week review, and then watch it build up over time. The next thing you need to do is create a budget.

Dave Jakson [00:08:21]:

Okay. Hold on. You didn't tell me how to do it, though. Like, look at your bank and see if they have a tool that will automatically deposit money into your goal or something like that. That was That was kind of a 50 foot review, and you said real life examples on how to do this. And so this is very high level, not bad information, just not very step by step ish.

Ralph V. Estep, Jr [00:08:44]:

I mentioned this in my book, may I spring your finances? Take a close look at your income and expenses to identify areas where you can cut back and allocate more money towards your emergency savings. This may involve making some sacrifices and prioritizing your savings goals over discretionary spending.

Dave Jakson [00:09:03]:

And this would be a great place to put in some examples. Like, maybe you only have 1 streaming service instead of 7, and then watch that 1. And when it's over, Switch to another one. You know, some sort of example here, real life stuff.

Ralph V. Estep, Jr [00:09:15]:

Consider automating your savings by setting up automatic transfers from your paycheck.

Dave Jakson [00:09:19]:

There we go.

Ralph V. Estep, Jr [00:09:19]:

Or checking account into a separate emergency savings account.

Dave Jakson [00:09:22]:

Bingo.

Ralph V. Estep, Jr [00:09:23]:

This way, you're less likely to spend the money and more likely to consistently contribute to your savings. If it's gone Before you see it, then it may be a good way to keep your savings going. So let's discuss some strategies for success

Dave Jakson [00:09:35]:

There we go.

Ralph V. Estep, Jr [00:09:36]:

When it comes to building an emergency savings plan. I've given you just a few tips here to discover. Number 1, start small and be consistent. If you're new to saving, It's okay to start with a small amount and gradually increase it over time. The key to this is consistency. Even saving a Small amount regularly can add up over time. Remember, it's better to save something than nothing at all. I'm certainly not expecting you to do this all overnight.

Ralph V. Estep, Jr [00:10:02]:

But if you take little steps, maybe it comes down to making some choices during the day to not buy that Starbucks cup of coffee.

Dave Jakson [00:10:10]:

How dare you?

Ralph V. Estep, Jr [00:10:11]:

Or eat out for lunch and maybe brown bag it. Pray Number 2, cut unnecessary expenses. Take a hard look at your monthly expenses and identify any unnecessary or discretionary spending that can be reduced or eliminated. This may include dining out less frequently, canceling unused subscriptions. That's a pet peeve of mine. It's amazing to me how many clients just continue to pay for things they're not using or finding more affordable alternatives for certain expenses. There are always options, but you have to start by looking at Where are you spending your money? Number 3, save windfalls and bonuses. Whenever you receive unexpected money such as a tax refund, Work bonus or monetary gifts, consider allocating a portion or all of it towards your emergency savings.

Ralph V. Estep, Jr [00:11:00]:

These windfalls can give your savings a significant boost.

Dave Jakson [00:11:07]:

So the audio is good. The recorded intro was good. I thought the Preroll was a little much. We we don't need all that information. Just, hey. Today, I'm gonna talk about helping you set up an emergency fund, and I think we all know What an emergency fund is. It's a fund you use when you're in an emergency. But the other thing that I as I listen, it's number 1.

Dave Jakson [00:11:28]:

You are you are obviously reading this. Now you are obviously reading it well, but I can still tell you're reading it like you're not monotone. But the one thing this is missing, there is zero Personal information. And I'm not asking for your birthday and Social Security number, but, certainly, there's a story here somewhere where when you were doing something if you listen to Dave Ramsey, right, he's like, well, there was a time I was broke, and then we're eating beans and rice and that whole 9 yards. Right? He's he's injecting himself so that your audience will kinda get like, oh, this guy knows what it's like to have to dip into the emergency fund or something of that nature. So that was the one thing I thought was really missing. It just reeks of chat GPT. There's no it's all overview stuff.

Dave Jakson [00:12:17]:

And so why not say, at my bank, I use such and such, and every month I do you know? And if you don't wanna get into the details, but I set Aside x amount of money per month, and I don't spend it that way. Inject some personal stories, examples, because you said real life examples, and everything there was kinda high level, You know, no real detail, and this is where you can make up you know, make do a Bon Jovi. Gina and, Whatever the guy was and living on a prayer, make up 2 people, Gina and Donnie, and they make x amount of money. Kinda bring it down so people can identify with it. But that's the only thing I I really noticed. I thought the audio was decent. The pace was good. It just was Kinda high end and not very personal.

Dave Jakson [00:13:09]:

The other thing that threw me for a loop was you mentioned your sponsor, and I believe the sponsor is you. And you said it so fast because you know it because you hear the name of your show all the time or the name of your company, but you said this so fast, and there was no website to go to.

Ralph V. Estep, Jr [00:13:25]:

Joining us today as our sponsor of this episode is Sajo Accounting Plus providing comprehensive accounting services to individuals and businesses.

Dave Jakson [00:13:33]:

I'm really expecting a Soggio accounting.com, sogio.com. Something there, but that was so fast. And, consequently, you went from that right back into the show to where I was like, wait. Is this still the ad? So maybe a little transition music there, something to let us know that this is an ad and now we're not in an ad. So I I liked the intro, the recorded one, especially. I liked that you do sound super friendly, but you're also reading to me. And I I get the feeling you've run this through chat g p t a few too many times to where we've completely washed out Ralph, and it should be called Ask Chat GPT. So don't forget to put you into your show.

Dave Jakson [00:14:24]:

I know Chat GPT can write everything. And then the other thing is, remember, we don't talk like we write, and we don't write like we talk. And so if you're going to read your podcast, You have to really work at it. And one of the things you need to do is occasionally pause, but not mid sentence because that sounds weird, but really work at it. And that's where you have a a nice tone of voice. But because you you never mess up, You never there's like, you just heard me say, you never mess up. Like, you don't have to think about it because it's on the page, and I don't think saying you never mess up needs to be edited out. It just shows I'm thinking.

Dave Jakson [00:15:05]:

It shows it's a conversation. And for me and this, again, it's my opinion. I'm not a fan if I can tell you're reading it because I wanna have a conversation with you. I don't wanna hear you read me a bedtime story about emergency funds. And that's just me. It's my opinion. If you wanna check it out, if you're like, wait. Wait.

Dave Jakson [00:15:26]:

Wait. I've I'd like that. Ask Ralph podcast .com. He has quite a few episodes out there, and you can check them out, and then you can. He also has a book. I thought that was nice. Anytime you mention your book, that's always a good time to go. Available at askgolfpodcast.com because somebody might go that, and make sure that in your episode, you know, description, there's a link to that book.

Dave Jakson [00:15:51]:

Anytime you mention anything that somebody can click or buy, make sure it's in your episode Description now. If you would like your podcast right here on The Podcast Rodeo Show, it's super simple. Ask the podcast coach.com/store. And if you need more Ralph again, you can always find him at af ask ralph podcast.com. He's also going on the podcast review show where myself and Eric k Johnson We'll be not only listening to his full episode, not just the beginning, but also checking out his website. I'm Dave Jackson from the school of podcasting.com. Why help podcasters? It's what I do, and I Look forward to working with