Monthly Archives: May 2018
Bloomberg News reported that $37 billion a year is scammed from the elderly. Telephone pitchers, online scammers, and family members are often culprits. Be proactive in protecting your loved ones by asking them to share questions with you regarding new financial contacts, companies, or inquiries. Although this problem is not new, new methods exist to reach out to elderly family members such as online dating sites to allow individuals to become acquainted with strangers that gain the confidence of our loved ones. Ask questions from time to time to inquire about new friends your elderly loved ones may trust unaware of the risks to them. Share this article with your family to make others aware of this important risk.
Finding a reliable car mechanic is not always easy. Especially if you moved to a new city and are still building your social and business networks. An article by Hiram Reisner says there are 12 keys to finding a car mechanic see link below:
https://www.moneytalksnews.com/13-ways-find-honest-auto-mechanic/2/
- Don’t wait for a breakdown
- Start with recommendations and reviews
- Look for certifications and memberships
- Don’t shop by price alone
- Weigh indie repair versus dealerships
- Ask questions
- Scope out the shop
- Make sure the shop has the latest equipment
- Ask for a warranty
- test out the technician
- Get a second opinion
- Don’t bow to pressure
Spread the news! We found an article listing restaurant that give away free gift cards. You’ll find details in the link below. https://www.moneytalksnews.com/slideshows/10-more-restaurants-giving-away-free-gift-cards/
- Bahama Breeze
- Benihana
- Black Angus
- Bonefish Grill
- Bravo Cucina Italiana
- Brio Tuscan Grille
- Carrabba’s Italian Grill
- First Watch
- Fleming’s Prime Steakhouse & Wine Bar
- Fogo de Chao
- IHOP
- Olive Garden
- Outback Steakhouse
- Quaker Steak & Lube
- Starbucks
- Tony Roma’s
Did you know you can shop at Costco without a membership card? Here’s how:
- Shop online
- Use a gift card
- Go as a guest
- Use a household card (family member with a Costco card)
- Use a delivery service
- See the optometrist
- Buy prescription drugs
https://www.moneytalksnews.com/7-ways-you-can-shop-costco-without-membership/2/
If you or someone you love needs to build credit from scratch, there are (7) easy ways. An article by Allison Martin, an accountant says the following:
- Become an authorized user
- Get a co-signer
- Apply for a secured credit card
- Diversify your debt
- Check with your financial institution
- Apply for a department store credit card
- Ask companies to report on your behalf
https://www.moneytalksnews.com/7-easy-ways-obtain-credit-when-you-dont-have-any/
If you miss student loan payments you may set up a general forbearance program. However, you must beware that a forbearance program often hurts you because you will delay payments and interest will add up. Ultimately, you will owe more in the long run. Typically forbearance works best for temporary short-term troubles such as maternity leave, unemployment, or temporary medical issues. If a borrower has a job that doesn’t pay well it may be beneficial to look into income-driven repayment plans which are adjusted to create lower loan payments. Make no mistake, student loan payments should never be ignored and cannot be discharged in bankruptcy except in rare instances. Please note: federal student loans are listed on your credit report and you must make 20 years of payments on time before you will be considered for a loan forgiveness program. https://amp.freep.com/amp557999002
Relationships can be tricky, but when you throw in money, they can get really complicated.
SunTrust had found money to be a huge stress with married couples, and about 35% said it was the leading topic they fought about. Something else that caught my eye was 63% of couples feel that their spouse overspends.
Ok, so if money can be a huge source of tension and there is a significant segment that feels like there is a spending problem, then the logical conclusion is that more couples need to talk about money. This may sound like a logical idea, but the reality is that many of us aren’t doing this.
A big factor is that while we know we should talk about money, we don’t exactly know how to do it. How do you actually start the conversations? How do you open up about money without opening a can of worms?
The five key things are:
1. Start with Your Goals and Dreams
2. Plan Your Finances Like an Epic Trip
3. Play to Your Strengths with Money
4. Automate Your Plan and Have Money Dates
5. Working as a Team
Millennials have access to various types of information 24/7 and have shown to be financially savvy. However, access to social media is stunting millennials financial growth by influencing their spending patterns. When millennials are bombarded with clothing, technology, and restaurant ads there might be a tendency to be swayed and increase impulse spending. Seventy-five percent of millennials feel financially confident, compared to Gen Xers. Forty-eight percent of millennials with a 401k contribute 10 percent or more of their paycheck every month. Forty-one percent set aside money each month for savings. The median retirement savings for millennials is $35,000 compared to Gen Xers who have fewer years to save for retirement.
https://www.moneytalksnews.com/social-media-is-stunting-millennials-financial-growth/