Monthly Archives: November 2018

Young adults on their own for the first time can be attractive prey for financial fraudsters. Here is how to spot the red flags:

1. Phony online booksellers
2. Fake credit cards and real ones
3. Tuition scams
4. Advance fees
5. Blackmail
6. Nonexistent apartments
7. Public Wi-Fi
8. Weak passwords
9. Check cashing scams – if something seems too good to be true, it probably is.
10. Don’t part with personal information unless you’re where it’s going
11. The more someone needs money upfront, the greater the likelihood you’re about to be robbed.

Read more

Before I started working form home, I worked for a mortgage company in an office next to a Starbuck. Every weekday for a year, I brought a Grande Caramel Macchiato for $4.55 and boxed lunch from a deli for $6.95. I thought that was a bargain. But at the end of the year, I added up my lunch money and discovered I had spent $1,288.50 on coffee and $1,876.50 on sandwiches. That is $250 per month. If I took the same money and invested it I would have 200k. If this is similar to your life experience. Think about investing and saving and watch your money grow.

Read more

At the beginning of their careers, women earn more than men. But when they reach this age, the good times end. Pay growth for college-educated women suddenly stops at around the age of 40, according to the new findings from compensation research firm PayScale. The reason for this gap? PayScale chief economist Katie Bardaro says it all comes down to job choice. Bardaro says jobs that men choose – such as software developer and engineering roles – have longer real-wage growth. By contrast, women choose professions – teacher, health care worker, social worker, administrative worker – where wades don’t rise as much over time.

Read more

Many retailers across the nation offer a wide variety of ”senior” discounts to people as young as 50.  Here are the stores:

1. Bealls
2. Bealls Outlet
3. Walgreens
4. Michael’s
5. Pep Boys
6. Kohl’s
7. Harris Teeter
8. Rite Aid
9. Ross
10. Goodwill

Read more

If you’ve got medical debt, or any kind of debt that’s causing you a problem. You can negotiate with your medical billing office or the collection company. At times, there maybe an error in the billing statement. Check to see if your statement is correct. You also can contact Medical Billing Advocates of America to see what assistance they can offer.

Read more

These senior discounts could save you up to $200 on a round trip flight – and possibly more. The average domestic airfare is $349.17, according to the latest federal data. That is before luggage fees or in-flight entertainment. To cut costs pack lighter, use frequent-flyer miles and select the most inconvenient travel times. But if you are 50 or older, there is one more way to save: Ask for a senior discount. Here are a few airlines that offer senor discounts:

1. American Airlines
2. British Airways
3. Delta Air Lines
4. Southwest Airlines
5. United Airlines

Read more

Today is Election Day! Remember to VOTE!

Voting is also a means to support financial literacy legislation. Financial literacy education programs and consumer protections and all decided at the ballot box. Financial literacy education in schools, in the workplace, and state-wide education is an important measure to prepare citizens to be aware of consumer protections that affect our daily lives. Contact your local representatives to let them know that you want financial literacy education programs in your community.

Read more

Using plastic to make purchases is convenient, but it carries a risk. Take precautions to avoid all-too-common forms of credit card fraud. Using credit cards to make purchases has become so routine that it’s easy for consumers to forget they’re at risk of becoming the victims of fraud. Be diligent by following these tips:

1. Carefully review billing statements
2. Use a shredder
3. Closely guard your credit card details
4. Beware of skimmers
5. Destroy old credit cards

Read more

Tax savings is a key advantage of 529 plans which are great savings for higher education. Morningstar analyzed and earned positive ratings – either ”Gold, ”Silver”, or ”Bronze”.

Still, only four plans earned the highest positive rating – and they are the same four plans that earned the rating last year. These Gold-rated plans, and the states that sponsor them, are:

1. Bright Start College Savings – Illinois
2. Invest529 – Virginia
3. Vanguard 529 College Savings – Nevada
4. my529 (formerly know as Utah Educational Savings Plan) – Utah

Read more

You do not need to pay back your reverse mortgage as long as you continue to live in your home, and you do not have to make any payments on the loan. However, you will need to keep up with other housing costs like property taxes, homeowners insurance, repairs and association dues. When the owner of the home dies, the loan will be due. Your heirs can pay off the loan balance if they want to keep the property to settle the debt. There are a few drawbacks to getting a reverse mortgage:

1. fees
2. interest grows over time
3. no annual tax deduction for interest
4. loan must be repaid if you move out
5. additional housing costs and;
6. a smaller inheritance

Read more