Monthly Archives: July 2018

If you have a student loan, there is a good chance that it may be serviced by Navient. Navient is a spin off from Sallie Mae and is the nation’s largest student loan servicer with more than 12 million customers of more than $300 billion government and private student loans. The summary of the California lawsuit focuses on federal student loans with allegations that Navient systematically and illegally failed borrowers at every stage to include the following:

• created obstacles to repayment by providing bad information;
• processed payment incorrectly;
• failed to act when borrowers complained
• illegally cheated many struggling borrowers out of their rights to lower payments, which caused them to overpay for their student loans
• deceived private student loan borrowers about requirements to release their co-signer from the loan; and
• harmed the credit of disabled borrowers, including severely injured Veterans

Read about your next steps:

https://www.forbes.com/sites/zackfriedman/2018/07/17/navient-student-loans-questions/amp/

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Back-to-school season is fast approaching, which means sales-tax holidays will begin in several states. Check out these upcoming sales-tax holidays for your state:

1. Alabama: July 20-22
2. Arkansas: August 4-5
3. Connecticut: yet to announce, but usually is the 3rd week in August (19-25)
4. Florida: August 3-5
5. Iowa: August: 3-4
6. Maryland: August 12-18
7. Mississippi: July 27-28
8. Missouri:August 3-5
9. New Mexico: August 3-5
10. Ohio: August 3-5
11. Oklahoma: August 3-5
12. South Carolina: August 3-5
13. Tennessee: July 27-29
14. Texas: August 10-12
15. Virginia: August 3-5
16. Wisconsin: August 1-5

For more information about what items are exempt or spending caps that may apply:

https://www.moneytalksnews.com/16-states-with0upcoming-sales-tax-holidays/

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When asking to get a raise in salary, there are certain things that you just don’t want to say. Perhaps you’re near the closing of a job interview and there is a great deal is near, you want to be able to use the correct words and strategies to make sure that you get that higher pay. According to Josh Doody, author of “Fearless Salary Negotiation”, “It’s important to be very clear with what you communicate to avoid ambiguity, which could complicate things and slow the negotiation process”.

A common mistake that people are always making is saying what you currently make. Once your the person you’re making the offer with knows what you are currently working with, they are more likely to tie your raise to the number you gave them. You are more likely to get a higher pay if you keep your current salary to yourself.

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Always do your homework before switching jobs rather than leaping hastily. The job of job-switching could prompt wage growth. Unemployment is at it’s lowest level in years and make the job market more favorable for the worker. Annual pay increases that job-switchers saw in May are roughly 30 percent larger than those who remain in the same job over the past year.  There are several things to consider besides higher wages such as tuition for college, childcare, your commute, and promotion potential. See if you can find better employment opportunities and evaluate if this is the best decision for you.

https://www.moneytalksnews.com/workers-who-do-this-boost-their-pay-by-30-percent/

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There are several ways to avoid bank fees and save money. Here are a few things you can do:

1. Shop for an online bank
2. Shop for a credit union or community bank
3. Use electronic features
4. Sign up for direct deposit
5. Look for a volume discount when you have multiple bank accounts
6. Maintain a minimum balance
7. Get cash at the grocery store using your debit card
8. Use only network ATM’s
9. Subscribe to email and text alerts
10. Track you money closely
11. Comparison shop for a bank that meets your needs
12. Cancel overdraft protections that have fees associated with it

https://www.moneytalksnews.com/banking-fees-are-killing-you-here-are-14-ways-dodge-them/

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What’s more exciting than watching money grow? That is compounding at work, whether it’s compound interest or compounded growth of stocks in a portfolio. It begins with the interest you earn in the bank savings account. The money you deposit at the bank can be borrowed and used by the bank, and for this privilege, the bank pays you interest. Of course, the higher interest you earn the more compound interest you will receive. This is how you make your money work for you. Time is the best way to enjoy the benefits of compound interest, which is interest on top of interest. Read here for more details…

https://www.fool.com/amp/retirement/2018/07/10/compound-interest-and-compound-growth-a-compreh.aspx

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It is important to save where you can, but it’s just as critical to spend where you should. Consider these items:

1. home improvements
2. your health
3. quality food
4. retirement
5. products that save you money
6. costs to relax
7. repairs and maintenance

https://www.thestreet.com/story/10469819/1/7-things-you-should-spend-money-on-today.html

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Unexpected costs can cost you money. Here are five easy ways to save money:

1. traffic tickets
2. bank fees
3. late payments
4. automatically renewed memberships and subscriptions
5. untapped discounts or negotiation opportunities

https://www.thestreet.com/story/10491145/1/five-costs-you-should-always-avoid.html

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It doesn’t take a miracle to get your personal finances in order:

1. Thou shal donate to worthy causes and those less fortunate
2. Thou shalt protect your finances
3. Thou shalt save and invest
4. Thous shalt educate yourself and be responsible for your decisions
5. Thou shalt set financial goals
6. Thou shalt pay yourself first
7. Thou shalt live on less than you earn
8. Thou shalt understand the difference between wants and needs
9. Thou shalt pay off all credit card debt
10. Thou shalt take actions

https://www.thestreet.com/story/10370223/1/10-commandments-of-personal-finance.html

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Financial tips for broke millennials:

1. Check in on your finances regularly. Even if it make you queasy.
2. Get a fee-free checking account
3. You can build credit without a credit card
4. You can get a credit card with no credit

see more:

https://www.forbes.com/sites/lucymueller/2017/08/18/a-crash-course-in-personal-finance-for-broke-millennials/

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