Monthly Archives: February 2019

Income inequality in America refers to the extent to which income is distributed in an uneven manner among persons in the population. In the United States, income inequality, or the gap between the rich and everyone else, has been growing markedly, by every major statistical measure for some 30 years.

Financial literacy education attempts to provide tips and tools to ensure individuals make the best financial decisions for themselves for every phase of life.

Read more

Here is how to get your finances in shape for your golden years, one step at a time. After years of dreaming, its finally almost here: Sometime soon, you plan to retire. Perhaps you intend to quit working a decade from now – or this summer. Either way, you still have time to get your finances in shape before beginning what could be happiest period of your life. Following are seven key steps to ready your nest egg for retirement.

1. Consider talking to a pro
2. Establish a monthly budget
3. Decide on a withdrawal amount
4. Figure out how to cut unnecessary costs
5. Weigh whether to dial down your risk
6. Estimate health care costs
7. Get rid of remaining debt

Read more

Thinking of padding your federal tax return by deduction these expenses? Find out why that could be a costly mistake. No one wants to pay more taxes than they have to. Don’t make the mistake of trying to claim one of the following 14 items:

1. Unreimbursed work expenses
2. Travel expenses for work
3. Home insurance
4. Interest on a home equity loan
5. State and local taxes over $10,000
6. The kitchen counter that doubles as a work desk
7. Losses from a house fire
8. Cosmetic surgery
9. A doctor-ordered vacation
10. Funeral costs
11. Moving expenses
12. Volunteer hours for charity
13. Political contributions
14. Baby sitter for your date night

Read more

Financial flu symptoms: Headache, that queasy feeling in your stomach, and an urge to hide under the covers. You sign into your retirement account and see a quarter where your balance looks like it’s taken a significant hit. The new reports wane consumer confidence. It’s no wonder you have that sick feeling in the pit of your stomach and a pounding headache.

Take a breath. Remember it is just another day  the and chances are good that the sun will rise in the east tomorrow morning.

Help is on the way.

1. Understand that news reports will exist forever, even when the markets are soaring. It’s the media’s job to add a dash of danger to keep you from changing the channel.
2. Acknowledge that yes, markets are violatile and the markets go up and down.
3. Examine your biggest risks, and make changes if necessary to prevent the biggest losses.
4. Don’t allow fear, anxiety, and panic to cause you unnecessary pain and suffering. Try it, you’ll like it!

Read more

Here’s what you miss out on when you pay by cash, check or debit card – even purchases of less than $10. For small purchases, cash remains king. But paying with physical dollars and cents can sometimes be a mistake. Folks are passing up opportunities to earn rewards and missing out on other advantages of credit cards – including consumer protections. These three reasons are important:

1. Rewards
2. Credit building
3. Credit protections from credit card company against fraud

Read more

Applying for credit soon? Here’s a simple list of things you can do to get your credit score in top shape ASAP.

1. Check your credit score and credit history
2. Lower your utilization ratio ($1000 limit – debt owed should be less than $500)
3. Pay debt twice per month to pay debt faster

Read more

A seemingly small stumble – such as forgetting to return library books – can cause your credit score to plummet. The next time you check your credit score, you might discover it has taken a tumble because of a seemingly small mishap on your part. Here are some other types of mishaps that can damage your credit score:

1.  Car rental reservations (settle the bill as soon as possible)
2. Past-due rent payments
3. Library delinquency
4. Outstanding medical bills
5. Delinquent tax obligations (city, county, state, or federal)
6. Defaulting on recurring bills
7. Breached gym membership contracts
8. Unpaid traffic citations
9. Closing credit cards
10. Too many credit cards applications
11. In-house zero-interest financing

Read more

Being money smart is about more than having a budget and eliminating dumb purchases. It means creating a financial foundation that will carry you and your family comfortably through whatever life throws your way. To create that foundation and find lasting financial security, you need these 10 products:

1. Checking account
2. High-yield savings account
3. Health insurance
4. Homeowners or renters insurance
5. Auto insurance
6. Disability insurance
7. Life insurance
8. Retirement fund
9. College savings account

Read more

Do your loved ones a big favor: Get your affairs in order so you don’t leave your survivors to face a legal mess. If you want loved ones to remember you fondly tackle your estate-planning tasks. Your heirs will thank you for not leaving a legal mess to sort out. Here’s what you should know about eight documents that can help you get your affairs in order.

1. Last will and testament
2. Revocable living trust
3. Beneficiary designations
4. Durable power of attorney
5. Health care power of attorney and living will
6. Provision for digital assets (emails, social media accounts, and webpages)
7. Letter of intent (last wishes and messages to kin)
8. List of important documents
   • Life insurance policies
   • Annuities
   • Pension or retirement accounts
   • Bank accounts
   • Divorce records
   • Birth and adoption certificates
   • Real estate deeds
   • Stocks, bonds, and mutual funds

Read more

If you don’t polish your skills in these areas, hiring managers may move your resume to the bottom of the pile. Valuable skills come and go in today’s job market. Students and job seekers have to keep up. LinkedIn, the career marketplace, recently listed the skills and experience most in demand on its site. Consider the following pertinent jobs skills for 2019:

1. Aptitude in cloud computing
2. Experience in artificial intelligence
3. Analytical reasoning
4. People management
5. UX design (user experience design to improve user satisfaction)
6. Mobile application development
7. Video production
8. Sales leadership (bring business to the organization)

Read more