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Financial Literacy

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 ...

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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 ...

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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 ...

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4 Tips for Knowing When to Spend and When to Save

Even the most reluctant spenders understand that there comes a time when they have to spend money. They even recognize that there are times when going with the cheapest option is not a good thing. They just have a little trouble sorting out how to recognize those times. It is not just those obsessed with saving money that experience this problem. At some point, it happens to us all. We all have certain blind spots when it comes to spending money. We routinely overspend on things we don’t have to. And we frequently hold back when we should be investing at a higher level. Here are a few tips that will help determine when to spend and when to save: Spend When a High Level of Skill Is Involved We can live with airlines cutting corners on everything except the maintenance of the plains and the quality of pilots. We also agree that discount surgery is out of the question. Home construction is another one of those areas where skill is worth the premium. Solar panels like the ones you may buy from Ion Solar require an installer with a high level of skill and experience in the same way ...

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Professional Tips for Effective Money Management

The management of credit is one of the most important financial undertakings. It all begins with your credit card account, regardless of your limit. Unlike the federal government, most households cannot run a deficit indefinitely. The mere notion of being buried in debt is an anathema to most people. Fortunately, there are failsafe ways to help you make timely bill payments, and manage your credit card effectively. All the while, it is important to safeguard the integrity of your ID and your personal information. What steps can you follow to secure your standing with credit ratings agencies? For starters, credit card companies advise clients to ensure that they have the right cards for their spending needs. Frequent flyers are better suited to cards with Voyager Miles and similar programs. There are credit cards for students, low-income earners and highflyers. In fact, major banks and financial institutions recommend that clients shop around for the very best deals. You certainly don’t want to be paying a hefty annual fee to maintain your credit card account with American Express if you can’t afford to do so. Keep your payments light, by opting for zero annual fees and the lowest possible interest rate repayments. ...

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