Monthly Archives: September 2018

To protect yourself against credit fraud, there are a few things you can do… First, take advantage of the new law allowing you to freeze your credit report for free. Second, you can freeze your credit cards and unfreeze when you need to. Third, avoid over-sharing information on social media. In a recent article, individuals convicted for credit fraud shared tips that assisted their ability to steal information from unsuspecting consumers. Remember this:

Your mother’s maiden name allows thieves to link your stolen info with private info that only you would know.

When thieves already have your social security number all they need is your mother’s maiden name or previous addresses to prove they are creditable when calling vendors to gain access to credit cards and open accounts in your name.

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On Friday, September 21st, you can freeze your credit report for free! Based on a recent law passed to protect consumers. This is great news for anyone who has been affected by the credit breach at Equifax last year when million of records were stolen to include social security numbers, addresses, names etc. Your credit report will be frozen for one year at no cost to you and you will receive a pin in the mail to unfreeze your credit report as needed. Transunion and Experian are also included in this legislation to allow consumers to freeze all credit reporting agencies.

https://www.nextadvisor.com/blog/new-federal-law-lets-you-freeze-your-credit-for-free/

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Marilyn Lewis wrote, retirement planning should take priority over debt repayment. Not contributing to your plan at work means you’re giving a potential company matches. Even if your employer doesn’t match, every dollar you don’t put toward retirement is a dollar that won’t help you later on. Save diligently for your retirement! You may be able to retire earlier than you think!

http://www.moneytalksnews.com/resolve-budget-this-year-heres-how-painlessly/

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Budgets don’t hurt if you do them right. Taking control of your finances is possible only if you have a spending plan. Creating a budget – one that will get you out of debt so you can save money – is a great goal. Here are four things you can do:

• Be specific
• Important Goals
• Achievable  (realistic)
• Hold yourself accountable

http://www.moneytalksnews.com/resolve-budget-this-year-heres-how-painlessly/

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Everyone should have their own updated ‘financial literacy toolkit‘. A financial literacy toolkit includes items that you need to be informed about your personal financial status.

1. FREE Annual credit report
2. Credit score
3. Know the interest rates of your credit cards, and loans
4. A written plan to aggressively repay debt
5. A written plan to aggressively save for emergencies
6. A written plan of long-term financial goals
7. Life insurance
8. Health insurance
9. Last Will and Testament
10. Health Care proxy

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There are ways to avoid wasting food and save money at the same time. Knowing where to place items in the refrigerator or  decide whether or not the item needs refrigeration at all. Purchase only what you need and shop for groceries when you must replenish your food stores. Many households waste hundreds of dollars each year on food that has perished. These few tips can assist you:

1. Keep things at ‘eye’ level
2. Don’t store perishable food in the doors
3. Avoid cross-contamination
4. Keep fish in the back
5. Avoid overcrowding
6. Get creative with unusual tools
7. Know what not to refrigerate
8. Beware of ethylene

https://www.moneytalksnews.com/slideshows/8-fridge-organizing-tricks-that-save-food-and-money/

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In the past 25 years, one in seven people who files for bankruptcy is age 65 and older, which is almost a five-fold increase. Bankruptcy is designed to give individuals a fresh start to relieve financial strains. There are four things that will cause someone to file for bankruptcy later in life.

1. The stress of dealing with debt collectors
2. A decline in income
3. Medical expenses
4. Missing work for medical reasons

Read more…

https://www.moneytalksnews.com/4-things-that-could-push-you-into-bankruptcy-during-retirement/

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Your credit report and your credit score are different and here’s why. Your credit report is gathered from the (3) reporting agencies Experian, Transunion, and Equifax and is a history of your payment history. The credit score is your ‘grade’ based on your credit report. A credit score ranges between 300 – 850. According to Experian, a score above 740 is considered very good. Your credit score is based upon the following factors:

1. Payment history (35 percent)
2. Amounts owed (30 percent)
3. Length of credit history (15 percent)
4. New credit (10 percent)
5. Credit mix (10 percent)

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https://m.huffpost.com/us/entry/us_5b981bafe4b0162f4731a535/amp

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STEM (science, technology, engineering and math) degrees have a high value and for several years have been promoted by high schools, colleges, and state governments. The major that tops them all is actuarial science. Actuarial science majors bring home an average annual salary of $108,658 according to a new Bankrate report with an unemployment rate of 2.3%. Currently, only 22% of actuarial science majors holds an advanced degree, which knowledge base includes both statistics and math.

https://www.forbes.com/sites/kateashford/2018/09/12/stem-degree/amp/

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To prepare for Christmas, begin in September to take your time to plan your shopping strategy. Whether you plan a visit to a local discount outlet, shop on line, or at the mall. Decide now how much you will spend and what gifts you need to purchase. May this a stress-free holiday season. Stick to your plan and also purchase small inexpensive gifts for the last minute thoughts. This will may your holidays more relaxed and enjoyable!

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