Considering a refinance? Make sure you take these steps before signing on the dotted line. Now might be the time to get that loan. Mortgage rates – which had been near historic lows for many years – have been rising and may climb again. So, it might pay off to lock in a rate now before home loan costs climb even higher. Remember the following steps:

1. Figure out if refinancing will pay off for you
2. Learn whether you can get rid of mortgage interest
3. Decide if you want to extract cash
4. Do not consider a short-term adjustable mortgage – it can be costly

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When: Thursday, March 14, 2019 2:00-3:00 pm EST

What: Learn to use our focus Re-entry guide to help individuals in prison or in the community achieve their financial goals in transition! Every year, approximately 640,000 people are released from prison and nine million from jail. The resulting 70 to 100 million people with criminal records face unique financial challenges.

How to join the March 14, 2019 webinar:

at 2:00pm (ET) click: https://www.mymeetings.com/nc/join/

Enter Conference number: PWXW8880618

Audience code: 7910999

You can also join the event directly at:

https://www.mymeetings.com/nc/join.php?i=PWXW8880618&p=7910999&t=c

Listen to audio: 888-972-9338   passcode:791099

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If you are contributing to a 401(k) plan, you probably enjoy seeing those savings increase each year. When you change jobs, you may think of the money as a way to pay moving expenses and other costs connected to starting a new position. Or you may think of the account as a way to save for a house or another large purchase, or to borrow money for your child’s education. But wait – your 401(k) is one of the best ways to save for retirement. Only consider using it for something else if you are hit with serious hardship. Not only are their rule about withdrawing 401(k) money prematurely, but it is likely to become a critical piece of your retirement income pie since most people do not have another retirement option from their employer. For these reasons, your 401(k) is more important than you think.

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Steps to take to help boost your financial and overall mental health. People often talk about how debt negatively affects your financial health, but what about your mental health? A recent study found that “perceived financial well-being is a key predictor of overall well-being.” The likelihood of having a mental health issue is three times higher among those who are in debt.

So why does debt negatively affect our mental health?

“As a society, we don’t typically speak kindly of people in debt.” explains Mackenzie Kingdon as licensed mental health counselor. A lot of labels swirls around about people in debt:failure, immature, impulsive… the list goes on.” It is easy for a person in debt to internalize those feelings, creating a part of their overall identity based upon these self-imposed labels.

A vicious cycle: Mental illnesses also contribute to financial stress. To make matters worse, studies show that people who struggle with existing mental illnesses such as depression, anxiety or even addiction are more likely to struggle with debt. Depression and anxiety make it harder for them to take action to eliminate debt.

1. Take care of your mind -seek treatment
2. Set up a budget (and stick to it)
3. Build your credit score
4. Establish an emergency fund

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Here are 15 more reasons why you should start your own small business today:

1. You have time. Yes, even you.
2. You have the money,
3. You have the courage.
4. You have the right connections.
5. You are never late to any party.
6. You can get people to listen to your ideas.
7. You have the skills.
8. You have plenty of great ideas (or can get them).
9. You can afford the risk.
10. You don’t have to wait for perfection.
11. You can do things differently (and enjoy it).
12. Your success isn’t assured (and actually that’s a good thing).
13. It’s not too hard (long journeys are hard – individual steps are easy).
14. You’ll be proud of yourself even if you fail (this time).
15. You can start a business in just a few hours.

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Many aspiring entrepreneurs believe building a widely successful business will just happen with the snap of the fingers.

Time to wake up.

Building a successful business in theory is very simple.

1. care about the customer
2. connect with the customer
3. create new customers
4. convince new customers
5. coddle your current customers

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Want to cure income inequality? Promote entrepreneurship. One of the most pressing issues for our society today is income inequality: The rich get richer while the poor struggle to access meaningful opportunities. Income inequality as a growing concern for our economic well-being. A parallel concern is the sense that the primary path to generational advancement — access to quality education — is increasingly a product of privilege given the skyrocketing costs. The beauty of entrepreneurship: if a new company is formed it hires people and creates jobs in its community. As it grows, people’s opportunities multiplies and wages rise. Inequality diminishes because people get pulled into to good jobs.

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Make the most out of your 401(k) plan by contributing as much as you can each pay period and ensuring you get your employer match. If you contribute 1% of you paycheck to your 401(k) and you employer will match if you contribute 2% you are not taking advantage of your employer matching policy. This is the biggest mistake employees make, second only to using their 401(k) as a piggy bank. Be informed of what you employer offers every year, since tax policies and laws are subject to change.

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Any improvement in financial literacy will have a profound impact on consumers and their ability to provide for their future. Recent trends are making it all the more imperative that consumers understand basic finances, because they are being asked to  shoulder more of the burden of investment decisions in their retirement accounts – all while having to decipher more complex financial products and options. Learning how to read financially is not easy, but once mastered, it can ease life’s burdens tremendously.

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Financial literacy is crucial to help consumers save enough to provide adequate income in retirement, while avoiding high levels of debt that might result in bankruptcy, defaults and foreclosures. Those with financial literacy plan for retirement and, in essence, have double the wealth of people who do not plan for retirement. Conversely, those with low financial literacy borrow more, have less wealth and end up paying unnecessary fees for financial products. In other words, those with lower financial literacy tend to buy on credit, and are unable to pay their full balance each month and end up spending more in interest. This group also does not invest, has trouble with debt and a poor understanding of the terms of their mortgages or loans. Even more worrisome, many consumers believe that they are far more financially literate than they really are.

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