Home > Financial Literacy

Financial Literacy

4 Ways Keeping Up with the Joneses Hurts Your Budget

4 Ways Keeping Up with the Joneses Hurts Your Budget

If you thought peer pressure ended once you graduated from high school, you are wrong. Peer pressure is around us every day in the guise of keeping up with the Joneses. It exists at work, where you may have a snobby coworker who brags about her new car or the hundredth new shirt she just bought but doesn’t even need. But, the pressure to measure up and keep up with the Joneses doesn’t end there either.  It’s also present among family members and friends who try to impress and outdo you every time the family gets together. Unfortunately all of this pressure can wreak havoc in your life if you aren’t careful. In fact, there are lots of ways keeping up with the Joneses can hurt your budget. Here’s how. 1. Makes You Spend More There are a lot of reasons you may try to keep up with the Joneses. One is because you may feel the need to fit in with your family, coworkers, or friends. Another is to avoid being ridiculed by others. A third reason could simply be your base competitive nature to “beat” someone else. None of the reasons really matter. The bottom line is that ...

Read More »

4 Ways To Take Care Of Your Finances If You Become Disabled

It’s challenging enough dealing with an accident or unexpected health condition that leads to a disability without having to figure out how manage your finances now that you can only work part time or not at all. However, there are five effective steps that you can take to get your finances in order fairly quickly. Let’s take a look at how to get some money coming in and how to manage your money better: 1. Apply for financial assistance. The first step to coping with your finances is to get some money flowing in as soon as possible and the best way to achieve this goal is to get some financial assistance. So, see if you qualify for Social Security Disability Insurance (SSDI), Worker’s Compensation, or Disability Insurance. Social Security Disability Insurance (SSDI): Social Security Disability Insurance (SSDI), will pay you and eligible members of your family if you have worked long enough and paid your Social Security taxes. The benefits are paid out based on your financial needs. SSDI eligibility includes factors such as your age and the nature of your disability. You have to be under 65 years old and your disability has to be a serious condition officially recognized ...

Read More »

What are Major Retailers and Banks Doing to Prevent Fraud?

While the opportunities afforded to businesses from digital technology are huge and have created new markets for many firms, emerging and developing technology has also brought about some challenges and problems. Fraud is a huge concern for retailers and banks these days, and such organizations have to work hard to remain up to date with the fraudsters and criminals that threaten their work. One of the worrying aspects of digital fraud is that it covers so many different areas of business engagement and interaction. In March 2017, a report issued by The&Partnership suggested that firms would lose over $16 billion in advertising fraud (sometimes known as click fraud) alone. That is just one small component of digital engagement and interaction, which means that the overall sums of money lost by firms due to the increased number of ways that digital fraudsters and hackers can impact on their business. In addition to advertising or click fraud, other types of digital fraud that companies have to be aware of include: Online retail fraud Smishing, vishing and phishing Spam emails Malware Proxy servers and botnets Of course, while the loss of money can be highly damaging for a company, for many, the loss ...

Read More »

How to Start Your Financial Future Out on the Right Foot – Part Deux

Financial Future

Last time we talked about starting out your financial future when embarking on adulthood. This is a crucial time in anyone’s life because the decisions that you make during early adulthood can really make or break your future financially. We broke down the two biggies in the last article: cash and credit. In this article, we are going to dive into your credit score and debit cards. So let’s jump in! Benefits of Increasing Your Credit Score If you are putting things on credit and not paying off your monthly balance, then you are directly affecting your credit score NEGATIVELY. This is the opposite of what you want to do because your credit score can impact more than you think it can. On the flip side, if you pay your credit card off every month, you are only INCREASING your credit score. The bonus here is that the higher your credit score, the more you qualify for big purchases in the future. Two of these biggies are cars and houses, with a smaller third possibility at business loans and/or credit cards to start a business. Some employers and rental companies even look at your credit score as an indicator of ...

Read More »

How to Start Your Financial Future Out on the Right Foot

Financial Freedom

  So, you’ve graduated high school and are embarking upon your wide open future. Going to college is an exciting time for most. But, it can also be a huge stepping stone with your financial future. College is the time that most people are first on their own financially, at least partially, and get their first credit card. So what is the best way to handle all of this newfound freedom and secure your financial future at the same time? Cash I know that the saying is “Cash is King,” and it still is for the most part. The reason for this saying is because when you are paying for something with cash, it doesn’t affect your credit and therefore your financial future in any way, shape or form. If you pay for things with cash, you don’t have to worry about getting authorization from a bank. You just pull out your wallet and call it a day. Cash is one of those things that is pretty easy for a college student to make because there are plenty of jobs, and side hustles, that pay straight cash. Here are a few examples, some that I personally embarked upon to make ...

Read More »